July 12, 2016

Possible New Tax Law For Individuals – By John R. Bullis

The House of Representatives recently passed and sent to the Senate a proposal to change the income tax laws for individuals.  Changes for businesses is a […]
July 19, 2016

Possible New Tax Law For Businesses – By John R. Bullis

A “C” corporation, one that files and pays its own tax, has a maximum tax rate today of 34%.  That makes it profitable to move jobs […]
August 2, 2016

Transfers Incident to a Divorce are NOT Taxable – By John R. Bullis

IRS Code Section 1041(a) provides that NO gain or loss is recognized on a transfer of property from an individual to a spouse, or a former […]
August 9, 2016

Senior Drivers – Some Considerations – By John R. Bullis

In Nevada most drivers age 65 and old must renew their driver’s license every four years and some special rules apply. Senior drivers who usually renew […]
August 16, 2016

Duty of Consistency Doctrine – By John R. Bullis

The Tax Court recently held that an S corporation that consistently reported income in the wrong tax year could not avoid tax by including the amount […]
August 23, 2016

When Education Expenses are Deductible – By John R. Bullis

The Tax Court recently found another example of when educational expenses are not deductible. An accountant tried to deduct his law school tuition and fees as […]
August 25, 2016

The Pathology of Socialism – By Toby Tatum

Socialism as we see it in Europe and in the U.S. is the process of a re-distribution of income via various income subsidies to the lower-income […]
August 30, 2016

Valuation Discounts Save Death and Gift Taxes – By John R. Bullis

The current IRS rules that allow valuation discounts may be changed in the near future.  Say an asset, such as a family business or a bundle […]
September 13, 2016

Thinking About Your Collections and Treasures – By John R. Bullis

It is difficult to do estate planning on how to handle your special collections and treasures.  Those are items with an emotional attachment as well as […]