Your Guide to State, Local, Federal, Estate + International Taxation

Sports teams get tax relief on trades

As of this blog, my beloved Colorado Avalanche are squaring off in the second round of the Stanley Cup Playoffs against the San Jose Sharks; my Denver Broncos have just drafted what we all hope is the next QB of the future in Drew Lock; and locally, the Arizona Diamondbacks are exceeding all expectations and …

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Calls from the SSA? Don’t fall for it

Your personal information is a hot commodity these days. Fraudsters seem to develop new scams daily to try to dupe you into handing over your tax refund, your Social Security number and other sensitive information, so it’s no surprise we have another warning for you. The Federal Trade Commission says it’s seen a spike in …

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Don’t get trapped with the IRA 60 day rollover rule

Deadlines can be very stressful, especially when it comes to taxes. One stress that many people are not aware of is the 60-day deadline for keeping an IRA rollover tax-free. Why you may ask? Because missing the 60 day rollover rule can result in taxable income — and if you’re under age 59½, you may …

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Tax season 2019: overheard in the hallways

In one of the craziest, most surreal tax seasons I can ever remember, I thought it would be interesting to do another episode of Overheard in the Hallways. You know, things you have heard throughout the three months, with no context, that just make you laugh out loud. “I think it must all be taxable …

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Where’s my refund? Your CPA doesn’t know – check online

Where’s my refund? Are you asking yourself this question? We’re in the final days of tax season. Maybe your return is already in the hands of the IRS or maybe you’re waiting until the last minute. Either way, if you’re owed money, you want to know when it’s coming, right? You may be tempted to …

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Have you been billed for tax research?

How long is the tax code? Out of curiosity, a download of the current version (through November 29, 2018) is 6,499 pages. While it’s not all code provisions, that’s still too many! Then, there’s accompanying regulations that explain the code. In addition, the IRS publishes other guidance and court decisions to interpret various provisions. Even …

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5 Tips to determine if your Social Security is taxable

You may not realize the Social Security benefits you received in 2018 may be taxable. You should receive a Form SSA-1099 from the Social Security Administration which shows the total amount of your benefits. You can use this information to help determine if your benefits are taxable. Here are five tips from the IRS to …

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Are your frequent flyer miles taxable?

If you have traveled with a major airline recently or opened a new credit card, it’s very possible that you have received frequent flyer miles. While you were dreaming of where those miles might take you, you may not have stopped to ask whether those miles are taxable. Fortunately, frequent flyer miles are generally not …

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California implements Wayfair sales tax threshold

Recently the U.S. Supreme Court issued a landmark ruling in South Dakota v. Wayfair. This ruling opens the door for states to impose sales tax on internet retailers who sell into a state even if they have no property or employees in that state. Not surprisingly, other states have taken notice and are starting to …

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The IRS is getting social on Instagram

You can now get tax tips and helpful news from the IRS on Instagram. The agency just debuted its official Instagram account – IRSNews. Last year’s tax reform law brought many tax law changes that will affect virtually every taxpayer. The IRS Instagram account will share taxpayer-friendly information to help you better understand these changes …

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