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Quantitative Easing Explained . . . Again
As posted to Malekanoms YouTube Channel on 11/11/10 (Run Time: 6 minutes, 48 seconds) Quantitative Easing Explained . . . Again? Why "Again"? That's because I originally posted this clip as Blog Post #150 way back on 11/17/2010 when it was hot off the presses. Now . . . 9 years later, the powers-that-be have [...]
Connection Between Fraud and Geometry
What is the connection between fraud and geometry? Fraud experts have long suggested that the presence of three conditions, known as the “fraud triangle,” greatly increases the likelihood that an employee will commit fraud. Over the years, this conceptual framework has been expanded to become a “fraud diamond.” Understanding these models can help you protect [...]
The Right Retirement Plan for Your Business
If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored retirement plan for yourself and any employees. Several types of plans are eligible for tax advantages. But what is the right retirement plan for your business and it's employees? 401(k) plan One of the best-known [...]
What is the Best Fuel to Use in Your Vehicle?
As posted to the Chris Fix YouTube Channel on 10/15/19 (Run Time: 16 min, 10 sec) What is the best fuel to use in your vehicle? Chris Fix explains the octane rating system and other related matters in this informative clip. (This is Blog Post #635) Chris Fix creates and posts easy-to-follow, step-by-step how-to style [...]
A Family Bank Affords Intrafamily Lending
One of the primary goals of estate planning is to put in writing how you want your wealth distributed to loved ones after your death. But what if you’d like to use that wealth to help a family member in need while you’re still alive? A family bank affords intrafamily lending. If you’re considering making [...]
Tax Deductible Teacher Expenses
With the school year now in full swing, teachers often pay for various expenses for which they don’t receive reimbursement. Fortunately, they may be able to deduct them on their tax returns. However, there are limits on this special deduction, and some expenses can’t be written off. What are tax deductible teacher expenses? For 2019, [...]
Chris Martenson on the Economy Triple Header
As posted to the GoldSilver YouTube Channel on 10/9/19, 10/10/19 and 10/11/19 Chris Martenson on the economy from his home in Massachusetts with Mike Maloney of GoldSilver.com: Part 1 - End of the "Everything" Bubble In this first of a series of three videos, they discuss the general state of the economy since the last [...]
Health Care Fraud is Alive and Well in America
Even if you haven’t heard much about it lately, know this: Health care fraud is alive and well in America. Here’s a roundup of recent stats, law enforcement initiatives, common fraud schemes and how you can help prevent these crimes. Just the facts During fiscal year (FY) 2018, the Health Care Fraud and Abuse Control [...]
Tax Implications of Company Cars
The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefits of driving the cars!) Even better, recent [...]
Taking Traditional IRA Distributions
If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a SEP-IRA). It’s even more critical to carefully plan for taking traditional IRA distributions. Knowing the fine points of the IRA distribution rules can make a significant difference in how much you and your family will [...]
Should You Elect S Corporation Status?
Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social Security and Medicare taxes if they structure their businesses as S corps for federal tax purposes. But [...]
Beware Pump and Dump Schemes
When the value of a stock skyrockets, its investors may think they’ve hit the jackpot. But if the stock in question is part of a “pump and dump” scheme, investors may, in fact, lose their shirts. Here’s how to avoid getting taken by this type of investment fraud. Beware pump and dump schemes! A penny [...]
A Poorly Worded Apportionment Clause Can Upend an Estate Plan
Federal estate tax liability is no longer an issue for many families, now that the gift and estate tax exemption stands at $11.4 million for 2019. But there are still affluent individuals whose estates may be subject to hefty estate tax bills. If you expect your estate to have significant estate tax liability at your [...]
Innocent Spouses May Get Tax Relief
When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s combined income. Therefore, the IRS can come after either spouse to collect the entire tax — not just the part that’s attributed to one spouse or the other. This includes [...]
Steps to Take if an SSA No-Match Letter is Received
What should you do if an SSA no-match letter is received by your business? In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the agency’s files and data reported on [...]
Disclaimer
This blog is designed to provide competent and reliable information regarding the subject matter covered. However, it is being provided with the understanding that the blogmaster is not engaged in rendering investment advice. Laws and practices often vary from state to state and if investment assistance is required, the services of a licensed investment professional should be sought. The blogmaster resolutely encourages the reader/viewer to do their own research and due diligence before acting on any information contained herein. As such, Roger Rossmeisl specifically disclaims any liability that is incurred from the use or application of the contents of this blog. It should also be noted that the views contained in this blog are not necessarily representative of the opinions/beliefs of the other owners, management and/or employees of Kho & Patel CPAs.
