Qualified Small-Business Stock

Have you ever heard of qualified small-business stock (QSBS)? I doubt it, it is almost an anomaly. But there are tax benefits is you own them. You could get a nice tax break when you sell: The main tax benefit is 100% gain exclusion for many investors. Individuals who...

Books to Movies

I was just watching the “Offer” the factitious tale of the making of the “Godfather”.  I was looking back on those standout movies from the 1970’s and most seem to be based on bestselling books. Now these were blockbuster films, not “Where the Crawdads Sing” or...

Passport Issues

First, do you owe the IRS money? If so, is the balance greater than $55,000? If the answer to both questions is yes, then you may have a passport problem. The State Department can deny or revoke U.S. passports of people with tax debts of $55,000 or more on whom a tax...

Tax credit double dipping

Clergy and the military both get a double tax break on housing allowances; and I have no problem with either group doing so. The military are paid poverty wages and are encouraged to be locked into the poverty way of life as one way to get extra cash.  The idea behind...

The EV Credit

Congress giveth as well as they taketh, usually with the skill of a magician,  especially since they don’t want to be caught and get reelected. So, if you are thinking of buying an electric vehicle in 2023? You need to take note of the changes to the EV tax credit...

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