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Tax Lounge Blogs

Let the athletes be athletes and not worry about taxes

The Olympics has wrapped up and it caught the attention of most of my friends, even if only for a minute. My friend’s four year old daughter was even wrapped up into the Olympics especially gymnastics.  I found myself watching

Posted To: Tax Rants by David Rocci By: David Rocci on 8/16/2012 12:34:46 AM

Election Day and the Fiscal Cliff

November is quickly approaching and we are approaching Election Day as citizens will have an opportunity to vote on their presidential choice. The election will ultimately play a big role in our economic policy and we are nearing what Fed

Posted To: Tax Rants by David Rocci By: David Rocci on 8/15/2012 11:53:15 PM

Liberty Tax Service Offers Tax Classes with Emphasis on New IRS Standards

Beginning in calendar year 2012, all Registered Tax Return Preparers (Individuals who have a PTIN) and RTRP candidates must obtain 15 hours of continuing education annually.

Posted To: Tax Mommy's Blog By: Stephanie Brenneman on 8/14/2012 5:06:57 PM

Should I convert to a ROTH IRA?

So, you’re thinking of doing a ROTH IRA conversion, you might want to take into consideration changes that may happen over the next few years with the tax code. I’m not saying it will happen, but only something to take

Posted To: Tax Rants by David Rocci By: David Rocci on 8/5/2012 6:19:32 PM

Tax Exemption in place for Olympic Athletes

Are you enjoying the Olympics so far? What was your biggest surprise? Michael Phelps not reaching a gold medal since he was a young lad? One of my biggest surprises was the Olympic athletes not having to pay taxes Surprised?

Posted To: Tax Rants by David Rocci By: David Rocci on 7/30/2012 8:16:38 PM

Is Romney making waves by not releasing his tax returns?

Mitt Romney is making a huge mistake by not releasing his tax returns for the public to view. That is the one area that I agree after reading this blog at Don’t Mess with Taxes.  However, the main argument presented

Posted To: Tax Rants by David Rocci By: David Rocci on 7/21/2012 9:46:48 AM

Could online sales taxes help balance the budget?

Customers often shop online simply to save money by avoiding state sales tax on their purchases.  However, recently Amazon has made the headlines because they are looking to purchases be taxable, regardless of whether they have a physical presence in

Posted To: Tax Rants by David Rocci By: David Rocci on 7/20/2012 11:30:18 PM

Should the government “get out of our way?”

Recently I was hanging out with a good friend of mine, who admittedly, doesn’t know a lot about the economy or taxes, but said, “Why doesn’t the government just get the hell out of our way?”   I was stunned

Posted To: Tax Rants by David Rocci By: David Rocci on 7/13/2012 5:59:01 PM

Survey shows sandwich generation unaware of IRS gifting and loan tax rules

Millions of Americans fall into what has been labeled the "sandwich generation." This demographic is defined as those individuals who are providing care or financial assistance to both their

Posted To: Tax Ranger's Blog By: Tax Ranger on 7/11/2012 4:22:10 PM

Can you write off taxable income?

When it comes to paying Uncle Sam, there are very strict rules about what can and cannot be written off on income tax returns. However, there are several costs that many individuals and business owner

Posted To: Tax Ranger's Blog By: Tax Ranger on 7/9/2012 4:21:50 PM