From the IRS Tag

The Beanie Baby Fortune Is Safe

In the early 1990’s, toy company Ty Warner, Inc. began producing tiny stuffed animals known as beanie babies. The product’s popularity quickly took off, and the toys became an instant collector’s item.  The company […]

Can You Tax The “Cloud”?

As advances in technology are continually made, there will always be those that look for ways to profit. In today’s society, most children and young adults have never heard of or seen a rotary […]

Will Raising Taxes Get You Elected President?

It is not common to hear a presidential hopeful “vow to raise taxes”, because paying more taxes is not on the top of most voter’s list of priorities. However, that is exactly what Hillary […]

Turning Back Time

There is nothing worse than working hard all year, having taxes withheld from your paycheck, and then finding out you still owe Uncle Sam come April. Taxes seem to be one of the most […]

More IRS Budget Cuts on the Horizon?

Congress reduced the IRS Budget Allocation approximately 7% from 2010 to 2014, then reduced the budget allocation another 3% from 2014 to 2015. Now it appears likely the IRS will be operating on even […]

More Lost Email Drama From The IRS

Just when it seemed like the media attention given to the story of the lost IRS emails had died down, a new development has arisen. Lois Lerner, the IRS official who claims to have […]

Common Misunderstandings About Tax Benefits Of Selling Your Home

The phrase “it’s a seller’s market” in real estate means that if you are looking to sell your home, you should expect plenty of buyers looking for homes and could reasonably expect top dollar […]

How To Determine Your Income For Purposes Of Taxation

The IRS rules allow the Service to collect a certain portion of your income as a tax. This means every year you have to file an income tax return, and report what you made. […]

Do Tax Cuts Really Help The Economy?

Back in the early 2000’s, under President George W. Bush, certain tax cuts were put in place. The idea was that if taxes were lowered, consumer spending would increase and the struggling economy would […]

The Impact Of Obamacare On Small Business Tax Liability

When Obamacare was implemented, there were certain penalties that business owners faced for noncompliance. One of the most costly penalties was for providing a health insurance plan whereby the employer reimburses the employee for […]