Do You Owe the IRS a Lot? – By Kelly J. Bullis

Kim Pilant Kelly's Articles

In all my travels, I still haven’t found a creditor with more legal power to collect unpaid money than the IRS.  (Notice I said “legal?”  Of course, your local Loan Shark has Guido and his thumb-screw machine, etc. available to convince folks to pay up their debts.) So, if you owe the IRS and can NOT pay immediately, you have …

President Trump’s Tax Goals

Nancy Bullis Kelly's Articles

One month into a new President.  He’s checking things off his list that he promised to do.  One yet to be done has to do with MAJOR tax reform.  There is not enough room in a small column like this to go over all Donald Trump’s proposals, but here are a few that will impact most Americans which seem to …

Fraud … Watch Out! – By Kelly J. Bullis

Kim Pilant Kelly's Articles

It has become more obvious as I get older that not everybody is honest and trustworthy! If I had a dollar for every time I’ve heard a small business owner say about their employee that just got caught embezzling from them, “I don’t understand!  I trusted this person, why did they steal from me?” I might be rich enough to …

A Charitable Tax Break for Some IRA Owners – By John R. Bullis

Kim Pilant Kelly's Articles, Uncategorized

You have probably heard about the option (choice) IRA owners who are age 70 ½ or older have about sending their IRA distribution (or part of it) to a charity or church. The total limit each year for the IRA distribution(s) paid directly to charities is $100,000. That transfer (distribution) counts against your required minimum distribution.  Suppose your required minimum …

Treasure Hunting for Memories and Valuable Stuff – By Kelly J. Bullis, CPA

Nancy Bullis Kelly's Articles

Well, it’s Labor Day Weekend.  My friend Laurie O’Bryne figured this would be a great opportunity to talk about a seemingly “laborious” task.  I’m talking about cleaning out the personal effects of a lost parent or grandparent after they have passed away. What do you save?  How do you dispose of sensitive information?  Should you just throw away papers that …

The IRS is NOT calling! (part 2) By Kelly J. Bullis, CPA

Nancy Bullis Kelly's Articles

The IRS is NOT calling! (part 2) I can’t believe it!  I just am sooo amazed at how scared most folks are of hearing the name … “IRS”  Oooooh!  Sends shivers down my back…NOT! Look, our firm deals with the IRS on a regular basis on behalf of our clients, for all kinds of situations.  So what I’m about to …

Modern Day Cattle Rustlers…

Nancy Bullis Kelly's Articles

In the old days of the Wild West, the “bad guys” were usually bank and/or train robbers, and cattle rustlers. The U.S. Marshalls (and the Pinkertons) focused pretty much on catching the bank and train robbers, leaving the poor ranchers on their own to deal with them lousy rotten cattle rustlers.  (Cattle rustlers were usually cowboys gone bad.) Now imagine …