Allan Rolnick's (taxcoach) Blog

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Industry Observer - TriState Tax Resolution LLC

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2019 

           Oscar night is the biggest night in Hollywood. The stars shine just a little bit brighter. The red carpets stretch just a little bit farther. And the bloated egos get just a little bit bloatier, if that's possible. (Here's looking at you, Bradley Cooper.) Ironically, fewer and fewer of...
02/27/2019
           Would anyone in their right mind sit down from scratch and develop the tax withholding system we have today? The IRS publishes tables telling employers how much to take out of everyone's paycheck, depending on their income, their filing status, and the amount they guesstimate they'll b...
02/22/2019
By Allan J Rolnick, CPA, CTC It’s the thick of tax season 2019. And I don't like to crow about other's mistakes, but this needs to be said. It may be self-serving, but it’s true. In our line of work, much of what we get to do is to *fix* or alleviate those mistakes, at least when it comes to the...
02/20/2019
          Just a couple of generations ago, it just wasn't polite to discuss money. We mostly knew who was rich and who wasn't. But it wasn't until about 1984, when crack investigative journalist Robin Leach launched Lifestyles of the Rich and Famous, that Americans began following celebrity hous...
02/15/2019
Get ready.  You may be about to experience another encounter with the law of unintended consequences. The Tax Cuts and Jobs Act gives you a possible 20 percent tax deduction on your rental property income. But that’s only if your rental property is a trade or business, and that comes with its own...
02/13/2019
Not only are we entering into the thick of tax season, but based on our political situation, we could be staring at another federal government shutdown on Friday.Which means, well ... we don't know exactly what it will mean except that God bless you if you are trying to get help directly from the...
02/11/2019
Two questions:  Did you prepay your 2019 rent so that you have a big 2018 tax deduction? How do you identify in your accounting records the monies you put on your IRS Form 1099-MISC for the business rent payments to your landlord?  For the 1099-MISC, do you simply look at your checkbook or paymen...
02/01/2019
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Small Business Tax Strategist
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