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Archives for August 2025

Labor Takes a Holiday. Capital Gets the Breaks.

August 26, 2025 by Bill Bourbonnais

Every September, Americans fire up their grills, crack open a cold one, and celebrate Labor Day. But it didn’t start as an excuse to party, or buy mattresses at 30% off. It was born in the late 1800s, when workers sweated 12-hour days just to keep food on the table. Strikes turned bloody — most famously in Chicago at the Haymarket Riot — and demands for fair pay, safe conditions, and reasonable hours grew too loud to ignore.

Filed Under: Retirement, taxes Tagged With: business tax tips, capital vs labor, financial planning, labor day truth, passive income, real estate tax breaks, smart money moves, tax planning, tax strategy, wage tax burden

Mailing Checks to the IRS? That Ends Sept 30, 2025

August 22, 2025 by Bill Bourbonnais

Big changes from the IRS: starting Sept 30, 2025, no more refund checks and no more mailing tax payments. Here’s how to get ready before this digital transition hits your wallet.

Filed Under: IRS, taxes Tagged With: compliance tips, digital IRS, Direct Pay, EFTPS, electronic tax payments, IRS 2025 updates, IRS deadlines, paper check refunds, refund delays, taxpayer alerts

Houston, We Have No Taxes

August 19, 2025 by Bill Bourbonnais

You know how you sometimes hear about highflying companies sending miserly tax checks to Uncle Sam? Well, buckle up — SpaceX might just be the star of that show. According to a New York Times exposé, SpaceX has privately told investors that because of a 2017 tweak to the Tax Cuts and Jobs Act, it may never have to pay federal income tax, even if they do succeed in helping mankind colonize Mars.

Filed Under: tax cuts and jobs act, taxes, TCJA Tagged With: 2017TaxReform, BusinessFinance, CashFlow, EntrepreneurTips, IRS, LegalLoopholes, NetOperatingLoss, SmallBusinessFinance, SpaceX, TaxCode, taxplanning, TaxStrategy

Houston, We Have a Tax Problem

August 12, 2025 by Bill Bourbonnais

The law has always had a problem with altitude. Here on Earth, we can draw neat little lines on a map and call them borders. We can assign them to taxing authorities and know who collects what. But the higher you go, the fuzzier things get. Airspace law is still a little like a neighborhood feud about where the fence belongs, except the “fence” is somewhere above the clouds. And if we can’t agree on who controls the sky, how do we decide who gets to tax outer space?

Filed Under: taxes Tagged With: AsteroidMining, FutureOfTax, InternationalTax, OuterSpaceLaw, SatelliteBusiness, SpaceEconomy, SpaceLaw, SpaceTax, taxpolicy, TaxStrategy

Donor Advised Fraud

August 6, 2025 by Bill Bourbonnais

Matthew Christopher Pietras played his part like a maestro in a Tom Ford tuxedo. He floated through New York’s glittering gala circuit, sponsoring opening nights at the Metropolitan Opera and the newly renovated Frick Collection, booking private jets like they were yellow cabs, and sprinkling six-figure “donations”as if he had an endless trust fund. To anyone watching, he was the charming young patron who had cracked the code to effortless wealth. He traveled in high society like he was born to it: with 60 friends in tow for opera night and a knack for name-dropping that would make a PR flack blush.

Filed Under: estate, taxes Tagged With: AuditRisk, CharitableDeductions, CharitableLimits, DonorAdvisedFraud, EmbezzlementTaxes, FraudIncome, HighSocietyScandal, IRSRules, NonprofitTaxRules, PhilanthropyAndFraud, TaxLaw, TaxScandal, taxtips, WeeklyTaxBeat

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