• Avoiding Estimated Tax Penalties

    Since we are still slow on Philly sports news, we are going to get right into the topic of the week.  As most of you know, the third quarter tax estimate deadline for individuals is less than 30 days away.   Hopefully you have paid the correct estimates for the first two quarters!  For those of […]

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  • Deducting Your Car Expense

    This past week was a relatively quiet week for Philadelphia sports (except for the Phillies making some trades for the future) so let’s get right to this week’s topic – deducting automobile expenses on your taxes.  This tax issue seems to be a hot topic every tax season for small business owners and employees.  So, […]

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  • The History of the United States Tax Law

    With the Independence Day holiday quickly approaching (can you believe it’s already July!), I wanted to switch things up a bit this week.  As we all aware, the current administration is looking to make a major overhaul to the tax code this year.  Although I have researched the history of the tax law changes in […]

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  • Trump’s Plans For Tax Reform

    he NFL draft came and went this past weekend in Philadelphia. The fan’s energy on Thursday night was amazing and, to me, the draft was much more entertaining because of it. The opening minutes of the draft saw a trade between the Bears and 49ers. The Bears traded multiple mid-draft picks to move up one […]

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  • Understanding the K-1: Part 3

    The weather has turned, birds are chirping, and MLB’s opening day has come and gone.  For most people this means Spring is here!  For myself and all of the tax preparers out there it means the “home-stretch” of tax season is upon us.  I am definitely looking forward to April 18th (we get three extra […]

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  • Understanding the K-1: Part 2

    I usually write something about sports for everyone one of my articles, but this week I have something else on my mind.  For the past month or so, my pet parakeet Larry Bird (yes, he is named after the basketball legend!) had been battling a tumor in his leg.  The little guy battled so hard […]

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  • Understanding the K-1: Part 1

    How is your NCAA bracket doing this year?  As per usual, mine is completely busted.  Hopefully you still have your Final Four teams still intact.  Anyway, this week I wanted to start to cover the impact of a Schedule K-1 on your taxes.  I think it is safe to say most business owners and people […]

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  • Active vs. Passive K-1’s

    March Madness is upon us and another one of my tax season “milestones” has passed.  I wish I could say that I watched a bunch of the games this year, but I haven’t.  I have been checking in on the scores though.  While the first day of games seemed to go in line with the […]

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