Tax professionals hoping to rescue wasted dollars for their clients for are hoping to harness AI’s power. A startup company called Blue J has introduced two services for tax pros eager to hop on the AI bandwagon. Their diagramming tool helps planners create helpful illustrations for transactions like mergers and acquisitions, corporate spinoffs, and the like. And they’re more exciting “Ask Blue J” chatbot promises “research with confidence” to help planners research caselaw, clarify understanding, and expedite drafting. But Yogi Berra once said, “It’s difficult to make predictions, especially about the future.”
What Happen$ in Vegas Goes to Washington
The IRS is always a big winner on Super Bowl Sunday. The Las Vegas Convention and Visitors Authority expects it to generate $600 million in economic impact for the city. Much of that $600 million will eventually find its way to Washington in the form of taxes.
The bottom line is that much of the Super Bowl betting that used to go through bookies (where it got spent on pinkie rings) has moved to legal sports books (where it gets taxed). Today’s legal sports books report your winnings to the IRS. Then, they report their own income, too. And that means the IRS wins no matter which team scores the most points.
Read on, and let us help you stop wasting money on taxes you don’t need to pay – and put those dollars toward your seat in the stadium next year!
How is My LLC Taxed?
I originally posted this blog article in November, 2010. But I find that even over a decade later, many business owners – and their professional advisors- don’t understand how a Limited Liability Company is viewed under U.S. and state tax laws. Here’s a quick reboot of this important information, and an invitation to reach out […]
Suze Orman is Full of It
America has always been a land of opportunity, but most Americans don’t seem very good at managing those opportunities. The average American has just $87,000 saved for retirement, dimming hopes for endless days of pickleball in the sun. Nearly 4 in 10 can’t cover $400 in an emergency, which explains a landscape littered with dollar stores, pawnshops, and payday lenders.
Too Many Men on the Field?
The NFL playoffs mark the unofficial beginning of Tax Ad Season. As usual, Intuit’s TurboTax will be suiting up against H&R Block. TurboTax is charging out of the locker room with a new “Make Your Moves Count” campaign celebrating those who are “carving their own path, making bold moves and living in new and modern ways.” We’re not sure what any of those things have to do with taxes, but the ads will focus on the company’s tax experts, AI technology, and filing solutions, “ensuring the best outcomes for all types of filers.”
The Twelve Days of Taxmas
Every year, PNC Bank publishes its “Christmas Price Index” to track the cost of the Twelve Days of Christmas. For 2023, it’s a hefty $46,730. That’s up 13% since we looked two years ago. (Inflation bites.) The index may not be completely accurate—for example, the ten lords-a-leaping are valued using the cost of male ballet dancers rather than card-carrying British lords. As for those eight maids-a-milking, well, “cows not included.” But still, we always wonder what sort of taxes we’re looking at on the whole affair.