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Tax Reform

It is interesting what Congress has been tossing around to be limited or out an out eliminated with the possibility of tax reform: mortgage interest, charitable contributions and state taxes.  For the vast majority of my clients that basically leaves property taxes as...

Tax Reform

It is interesting what Congress has been tossing around to be limited or out an out eliminated with the possibility of tax reform: mortgage interest, charitable contributions and state taxes.  For the vast majority of my clients that basically leaves property taxes as...

Tax Related Identity Theft

This tax season the IRS continues to be flooded with notifications from victims of tax-related identity theft.  Scammers are using stolen Social Security numbers to get unauthorized refunds, and the victims are finding out there’s a problem only when their tax return...

Advertising dollars and time

Where do you spend your advertising dollars and time? I was at a SCORE seminar sponsored by Palatine Bank and Trust ; that shared a formula for advertising that I have to admit that I had never seen or heard of before. Time                                            ...

Advertising dollars and time

Where do you spend your advertising dollars and time? I was at a SCORE seminar sponsored by Palatine Bank and Trust ; that shared a formula for advertising that I have to admit that I had never seen or heard of before. Time                                            ...

Overstated Tax Basis

According to the Supreme Court the IRS only has three years to seek back taxes based on an overstated tax basis.  According to a case where a business understated the gain from the sale of an asset because an inflated tax basis was used. The Service stated it had six...

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