One of the most common questions I get from people opening a business for the first time is, 'How do I deduct all of the many expenses incurred before the business actually opens its doors?' Most of these can be handled as either start-up expenses or organizational expenses. You can think of organization expenses as creating the paperwork part of a business and start-up expenses as setting up the physical structure of a business.

Business start-up expenses are those incurred for investigating or creating an active trade or business and the cost must meet these two requirements:

The Consolidated Appropriations Act (CAA), 2023 that just passed Congress includes the retirement package, SECURE 2.0. Here are the major changes that can affect you and/or your small business: 
The Saver's Credit is becoming the Saver's Match for tax years beginning after December 31, 2026

The retirement savings contributions credit (aka saver’s credit) is being repealed and replaced with a new “saver’s match.” The saver’s match will be paid in the form of a contribution to the taxpayer’s IRA or retirement plan, instead of a non-refundable tax credit as it is now.

One of the biggest hypes going around the internet, knocking on your front door, or blasting through your TV is all about how you can have solar installed on your house for no cost to you. But, the devil is in the details as they say.

They cook the books by saying that, IF you consider two factors:

One of the most asked question that I get at the tax desk is how long should I keep my tax returns. You've probably heard that seven years is the perfect period to hold onto your tax returns. However, the actual time to keep records isn't quite that simple. You probably don't need to keep every little piece of paper, because different records require different holding times. Let's take a look at some of them.

What to keep

If you lost your job last year and received unemployment benefits from the government, be sure to keep your 1099-G form, which reports the amount you have received. There is a misunderstanding by a lot of people that this is not taxable, but you will owe federal income taxes on the entire amount. 

Participating in an illegal scheme to avoid paying taxes can result in imprisonment and fines, as well as the repayment of taxes owed with penalties and interest. If you become aware of any abusive tax scams, please report them to the appropriate contact below.

Phishing Scams

Phishing is a scam typically carried out through unsolicited email and/or websites that pose as legitimate sites and lure unsuspecting victims to provide personal and financial information.

The "Democrats and Donald Trump" reminds me of a bad horror movie, where the hapless protagonists only make the monster stronger with each attempt to eliminate it. So goes the Democrats’ endless attempts to finally rid America of the “scourge” of Donald Trump.

Thanks to the Durham Report we now know they started even before Trump was elected president. Hillary Clinton’s campaign – with the full knowledge of the candidate and the sitting president, Barack Obama – cooked up a “dirty trick” to portray Trump as an agent of Russia in their effort to deny Trump the White House.

When that didn’t work they weaponized the FBI, CIA and the rest of the “deep state” to undermine and hobble his presidency. They spied on Trump and his campaign staff using false information manufactured by the FBI.

Nov 15 - What do the Federal Reserve and neoconservatives have in common? They both refuse to admit that their policies — the neocons’ promotion of perpetual war and the Fed's manipulation of the money supply — are complete failures, having produced the opposite of the promised results.

The latest example of the Federal Reserve engaging in Bill Kristol-like levels of denial is the Fed’s continued insistence that the return of 70s-style inflation is a “transitory” phenomenon resulting from the end of the lockdowns. The Fed has acknowledged the “transitory” inflation will last until at least 2022, yet it is still determined to keep interest rates at or near zero until the “jobs situation” improves.

In their efforts to turn our country into a socialist nation (even though it has failed every time tried), these left wing wackos in Congress want to borrow 1.75 Trillion dollars and pass one of the worst pieces of legislation ever written - over 2100 pages of it. Here is some of the garbage that is in it:

Some of the worst provisions of Democrats Tax and Spend Bill