This tax musing is about the tax situation of winning the lottery (we should all have that problem) and the tax advantages of taking the money upfront this year as opposed to taking upfront next year or the installments (I am always in favor of taking the money upfront; who knows what can happen if someone is paying you installments over 20 or 30 years). This article in Accounting Today by Michael Cohn goes into more detail:http://www.accountingtoday.com/news/Powerball-WinnerFace-Major-Tax-Hit-64822-1.htmlSo now for these problems to apply to you all you have to do is win the lottery and then you will know what to do, so nothing is stopping you from winning (except the odds of course!)Remember, for financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com
CPA Tax Musings: Small Business Groups Urge Tax Reform Instead of Tax Hikes from Fiscal Cliff
This tax musing gives equal time to the anti-Buffetts, business groups advocating tax reform instead of hikes. This article by Michael Cohn in Accounting Today discusses it:http://www.accountingtoday.com/news/Small-Business-Tax-Reform-Hikes-Fiscal-Cliff-64808-1.htmlHopefully everyone will meet in the middle before we go off the Fiscal Cliff!Remember, for financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com
CPA Tax Musings: Pelosi Plans to Bring Tax Cut Extension Bill to House Floor
In this tax musing, House Minority Leader Nancy Pelosi is planning on using a discharge petition to bring the already passed Senate Tax Cut Extension to the floor of the House of Representatives today or tomorrow. You can read about it in this article by Michael Cohn in Accounting Today:http://www.accountingtoday.com/news/Pelosi-Plans-Bring-Tax-Cut-Extension-Bill-House-Floor-64853-1.html?ET=webcpa:e6391:204199a:&st=emailSo now the plot thickens: stay tuned for our next exciting episode! Remember, for financial, accounting and tax musings, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com