June 20, 2017

What is the 3.8% Medicare Surtax? – By John R. Bullis

IRS Code Section 1411 charges 3.8% additional Medicare tax on unearned income of high earning taxpayers.  That surtax is called earned income Medicare contribution tax or […]
June 13, 2017

Organize Your 2017 Tax Files – By John R. Bullis

It is can be easy to accumulate and save information that will help when your tax return is prepared.  Here are some thoughts and suggestions that […]
June 6, 2017

Thoughts on Gifting – By John R. Bullis

It is easier to give than to receive gifts. Depending on your circumstances and those of your children or grandchildren, maybe it is time to consider […]
May 30, 2017

Wife Held Not Liable for Fraud Penalties for Husband’s Illicit Business – By John R. Bullis

Bradley Ballard operated a sole owner business named Quik Copy.  He specialized in the unauthorized duplication of copyrighted works.  He concealed his piracy by dealing mostly […]
May 23, 2017

Maybe it is Best to Keep Your 401(k) Account – By John R. Bullis

When someone changes jobs, or retires, they need to decide whether to keep the retirement savings account they have with the old employer, commonly known as […]
May 16, 2017

IRS “Offers in Compromise” – By John R. Bullis

A recent Tax Court case shows a little how Offers in Compromise work and don’t work. Denise Lloyd was the owner of an insurance brokerage business.  […]
January 3, 2017

If You Got This, You Owe Tax On it! – By Kelly J. Bullis

I thought it would be fun, while you’re nursing yourself back to normal health after last night’s celebration, to get some laughs at some of the […]
December 27, 2016

Is It An Investment or A Business? – By John R. Bullis

Mr. and Mrs. Boree had a real estate business in Florida in 2002.  They bought 1,892 acres of vacant land, borrowing most of the money to […]
December 20, 2016

IRS Was Wrong (Again) In An Assessment – By John R. Bullis

The tax law is complicated and in a recent case IRS was found to have not presented enough evidence to support the assessment they did on […]