Right now, Americans are locked in an increasingly fierce presidential election battle. Partisans on both sides are calling it the most important election of our lives. Rhetoric is growing hotter on social media platforms like Facebook and X, or whatever Elon Musk is calling Twitter these days. Some extremists are calling for violence if their […]
Understanding Disaster Losses for Your Taxes
We seem to be living in an age of natural disasters. Floods, fires, hurricanes, tornados, and other disasters often dominate the news. If a disaster strikes you, the tax law may help. It’s important to note that there are differences on how personal losses and business losses are treated and deducted under our current tax […]
Have a Coke and a S̶m̶i̶l̶e̶ Tax
On May 8, 1886, a Civil War veteran and pharmacist named John Pemberton was experimenting with a nonalcoholic alternative to the morphine he had become addicted to after a saber wound at the Battle of Columbus. He accidentally mixed the base syrup with carbonated water and then decided to sell it as a fountain drink […]
Faster, Higher, Stronger – Together
U.S. Olympians who medal in Paris will also bring home cash, specifically, $37,500 for gold, $22,500 for silver, and $15,000 for bronze. And here’s an extra patriotic bonus—in 2016, Washington passed a law that says Olympians and Paralympians don’t have to pay tax on any of those winnings!
Hi Bob!
Did you know that the late Bob Newhart was an accountant before he launched his career in comedy?
Newhart was born in Chicago in 1929. He graduated from Loyola University with a degree in business management before getting drafted and serving here in the States as a clerk during the Korean War. From there, he went to United States Gypsum to work as an accountant. And if he had succeeded, we might never have heard of him! Sadly, his motto, “That‘s close enough,” didn’t work for his employers. Nor did his habit of balancing petty cash out of his own pocket.
Let’s take a look at that motto of his: “That’s close enough.” Was it really so disqualifying?
What I Did on Summer Vacation
Over the last month, we’ve discussed several videos circulating on social media purporting to help you save money on taxes. Today, we’re going to see how one would-be influencer mishandles the basic concept of “substance over form.”
Summer is here, and that means vacation travel. Unfortunately, vacations are pricey. Wouldn’t it be great if you could get a deduction for those beach nirvana expenses? Never fear, Anna from Instagram is here to show you the way: “Here’s how you’re actually gonna be able to write off travel with any of your family members!”