Articles Covering Advanced Tax Planning and Tax Settlement Topics

As we approach the beginning of a new year, I thought you might enjoy a break from all the numbers (such as percentages, thresholds, tax

With less than six weeks before the end of 2022, I thought my readers would be interested in actions they could take before yearend to

The 2021 tax filing season officially ended on Monday 10/17, which was the filing deadline for extended personal income tax returns (Form 1040).  As mentioned

In Part 1, I asserted that I witnessed regulatory overreach and abuse by the IRS during my 40-year career.  I also presented my 6-point quick

Happy 245th birthday to the United States of America. The last sentence of the Declaration of Independence reads: “And for the support of this Declaration, with

When tax laws change after the tax year ends, tax preparers especially feel the aggravation and frustration of a moving finish line. Before COVID-19, Congress

Recently, I heard on the radio that the $1,900,000,000,000 ($1.9 trillion) spending bill had just passed the Senate. It was cleverly called a COVID relief

I trust you and your sweetheart will be able to enjoy some quality time together and appreciate each other for Valentine’s Day this month. On

Last month, I began to explore the IRS audit process. I warned you 1) not to ignore a letter sent by the IRS, 2) to

By the time you read this article there will be less than two weeks left before 2021 arrives. Since I gave you yearend tax reduction

As we approach the end of this crazy year, it is time to seize some tax savings. Once the calendar flips to 1/1/21 the vast

Ten years ago, I learned a hard and embarrassing lesson. I discovered that my clients really want me to save them taxes! Until that light

Today, I will address the huge return on investment available from the little-known college planning industry and also review the familiar tax breaks that help

I am taking this article in a different direction. Instead of communicating facts and opinions about the tax code or personal finances, I have chosen

I thought it might be time to explain some of the basics of taxes. Taxes fund expenditures of government. Synonyms for “tax” include: duty, tariff,

Last Saturday, the 244th birthday of this great country, I reflected on our history as a nation. In 1802 Senator Daniel Webster said: “Miracles to

The continuing COVID-19 pandemic and the recent riots and civil unrest got me thinking about disaster preparedness. This has been a topic of interest for

On Monday, May 4, our community and country took a step toward normalcy and I got a haircut that was long overdue. Many people left

COVID-19 has been the focus of the news every day for a month now. It is truly horrible that this new strain of virus is

“You can’t understand someone until you’ve walked a mile in their shoes.” There are many versions of this popular saying (an old song even comes

Since 2011, my passion and focus has been keeping money out of the IRS coffers and in the pockets of taxpayers through proactive implementation of

I trust you enjoyed the holidays and were able spend time with loved ones. I am happy to share that my wife and I became

A new decade begins a few days. Where did 2019 go? The older I get the faster time goes. I can still remember moving back

Appeared in the Columbia Daily Tribune on 7/6/19 The Tax Cuts and Jobs Act changed the tax preparation needs of many people. It made some

Appeared in the Columbia Daily Tribune on 6/7/19 I would estimate that less than one percent of the people in Mid-Missouri have ever hitched a

Appeared in the Columbia Daily Tribune on 5/11/19 In my last article I mentioned six types of tax-free income:  1) Muni bonds, 2) Life insurance

Appeared in the Columbia Daily Tribune on 4/13/19 Tax-Free Income is the best kind. When I mention tax-free income, you may think about municipal bonds.

Appeared in the Columbia Daily Tribune on 3/16/19 In this article, we will look at IRS audits and how to become “audit-proof.” The most important

Appeared in the Columbia Daily Tribune on 2/16/19 The new tax law (TCJA) altered the IRS Code than any change since the Reagan tax overhaul

Today’s topic is A Short History of the Internal Revenue Service. The original Constitution prohibited the direct taxation of its citizens. Article 1, Section 9 is

Posted Jan 18, 2019 at 2:28 PM on the Columbia Daily Tribute website Let’s review the new tax law (TCJA, Tax Cuts and Jobs Act) since the deadline (Monday, April

Posted on Columbia Daily Tribune Website on Jan 4, 2019 at 3:13 PM    Today’s topic is The History of Income taxes. I think the Founding Fathers were brilliant men.

Taxes don’t make sense! Why are some things taxed and others not? You may not know this, but the original US Constitution specifically prevented Congress

Posted Dec 7, 2018 at 11:37 AM Updated Dec 7, 2018 at 11:37 AM  on Columbia Daily Tribune  I would like to introduce you to seven fundamentals of tax planning that I learned from the

Posted Nov 21, 2018 at 1:19 PM Updated Nov 21, 2018 at 1:26 PM  on Columbia Daily Tribune  The third and final chapter covering the Home Office Deduction will handle allowable deductions, computation of the

Posted Nov 9, 2018 at 3:10 PM Updated Nov 9, 2018 at 3:10 PM  on Columbia Daily Tribune  In my last article, I introduced you to the Home Office Deduction and recommended it to most

Posted Oct 12, 2018 at 2:10 PM Updated Oct 12, 2018 at 2:10 PM  on Columbia Daily Tribune  In coaching small business owners and preparing proactive tax plans for clients, the home office deduction is

Posted Aug 17, 2018 at 3:07 PM  on Columbia Daily Tribune  Last month, I handled highlights of the New Tax Law focusing on the impact on personal tax returns. This

Posted Jul 20, 2018 at 1:47 PM on Columbia Daily Tribune My wife Pat and I love Central Missouri. We moved back to Columbia with our two sons (John and