TurboTax Losing Customers By Hiding Price Increases

January 20th, 2015 at 11:48 am — By R&G Brenner

TurboTax, the leading do-it-yourself tax software by Intuit, has caused an uproar with their customers claiming shady tactics of “price gouging” & “bait & switch”.  Intuit has removed popular tax forms from their Basic & Deluxe programs, forcing clients to upgrade their software by at least $30 in order to have access to the same forms… Continue reading

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How a Tax Loophole Allows Corporations to ‘Invert’

January 12th, 2015 at 3:08 pm — By admin

Imagine, as an American, choosing to become a teacher in Russia, or a tour guide in Italy. According to U.S. tax law, you would have to pay taxes on your earnings, just as you would if you worked domestically. Now, imagine you’re an American corporation which has just purchased a foreign company. You shift over… Continue reading

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How Taxes on Recreational Marijuana Are Boosting Colorado’s Economy

January 9th, 2015 at 2:31 pm — By admin

The numbers are in, and the legal sale of recreational marijuana is, by all accounts, a success in Colorado, having earned $2 million in taxes related to the sale of recreational marijuana in just the first month of 2014. Unlike Washington State, which legalized the sale of recreational marijuana in the same 2012 election, Colorado… Continue reading

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The Affordable Care Act Includes a Tax on Medical Devices. Is That a Bad Thing?

January 8th, 2015 at 10:00 am — By admin

Were one to listen to the bipartisan rhetoric that has been whipped up in the House against the Affordable Care Act’s 2.3% excise tax on medical devices, it’s easy to see how a relatively small tax can be enough to scare a whole lot of people. Everything from the claims of company closures to the… Continue reading

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What California and Kansas Can Teach Us about the Laffer Curve and Tax Theory

January 6th, 2015 at 10:00 am — By admin

Since the economic collapse that began in 2008, politicians and lawmakers all across the United States have been on the move to enact policy that will stimulate the economy and bring back jobs. Tax policy has inevitably become part of this national discussion. The Laffer Curve, an economics theory that posits that cutting taxes is… Continue reading

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Will the New Congress Be Able to Make Any Progress on Tax Reform?

January 5th, 2015 at 1:16 pm — By admin

After the November 4th elections this year, it was widely expected that Republicans would take a majority in the House and Senate. Republican leaders campaigned toward victories on promises of change, though it is unclear just how much change will actually be accomplished. While the Obama administration has for years been interested in tax reform,… Continue reading

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Giving to Charity This Holiday Season? Here’s How to Report it on Your Taxes

December 23rd, 2014 at 11:51 am — By admin

The end of 2014 is just days away, and if you’re like many Americans, you are planning to give to one or more charitable organizations before the new year dawns. Around 34 percent of all charitable giving is done in the last three months of the year and slightly more than half of that is… Continue reading

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2015 Tax Season Delayed

December 18th, 2014 at 11:55 am — By R&G Brenner

R&G Brenner has just been informed by our commercial tax software provider, that the IRS has indicated that the 2015 tax season (for filing tax returns for tax year 2014) will be delayed AT LEAST until January 23, 2015.  This means the season could potentially be delayed even beyond 1/23. While delaying the start of the tax season has become a… Continue reading

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“Worst Filing Season Ever” Predicted For Taxpayers

November 5th, 2014 at 12:17 pm — By R&G Brenner

IRS Commissioner John Koskinen recently suggested that the 2015 tax filing season could be misery for taxpayers and IRS employees alike. Between extensive wait times to speak to a representative, implemented laws that have not yet been reflected in the tax code and congressional gridlock, this may be the worst tax season on record. “The… Continue reading

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October 15 Tax Extension Deadline

October 14th, 2014 at 10:33 am — By R&G Brenner

The deadline to submit 2013 tax returns to the IRS for taxpayers who elected to file extensions is Wednesday, October 15th.  Failure to do so may result in the penalties and interest assessed on due taxes.  Please note, that if you did not file your taxes yet, and did not file for an extension, your… Continue reading

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