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The Simple Life

I know I’m a thousand years old, but I don’t think technology has the boom we think it has been. Information is easier to access. Great A more violent society. Bad, but not completely attributable to technology Less interpersonal communication. Bad No down time. Bad...

Private Candy Money

I have to admit I was unaware that upon the death of Forrest Mars Sr. (1999), he and his two sons were ranked No. 29, 30, and 31 by Forbes magazine’s list of richest Americans, and they each had a worth of approximately $4 billion. I never paid much attention to...

Donations against the future

Do you contribute to a Traditional or a Roth IRA? The idea behind the investing in a Traditional IRA is that your tax rates will be less when you are retired.  Most of our clients did not believe us when we explained that this is a fallacy, that they will be roughly...

Selling your home

In Fiscal 2020 we had clients who sold their home and did not prepare for the tax consequences. What was the most surprising was the fact that two or maybe three clients all claimed that they rolled the funds into a bigger home and so the profits should not be...

Smoking – the good and the bad

The proposal, announced earlier this year by the Food and Drug Administration, stems from the agency’s finding in 2013 that menthols are harder to quit than regular cigarettes and likely pose a greater health risk. The agency also found that menthols are likely...

Who is paying their fair share?

The most recent IRS statistics are out and the analysis is in, who are paying our taxes?  At least from 2018… IRS statistics from 2018 show that the top 1% of taxpayers (more than $540,000 in income) paid 40.1% of all individual income taxes; the top 5% (about...

Blockchain

Blockchain is a term you will be hearing more and more of if you haven’t already. The blockchain is bitcoin’s historical ledger of all transactions which is publicly viewable at all times by anyone, so that there can’t be any under-the-table cash transactions. This is...

Illinois CCL

Since a client insisted I get a FOID card and since my son was in the military, I have become aware of a subculture within my client base and family.  They are gun enthusiasts.  I have been encouraged to get my Conceal Carry License from the Illinois State Police....

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