Category: Uncategorized

On March 10, 2015 a bipartisan group of senators introduced the Marketplace Fairness Act of 2015 with the aim of giving states the ability to collect sales taxes from all retailers in return for simplifying their laws. Many believe the states are […]

Ever wonder why GE manages to have  a tax rate of 2% and you pay 35%. Why your taxes are high and the big multinational corporations pay less and less? The answer is simple.  The big companies shift their profits […]

1. The Machine.  The IRS reviews most returns by computer.  They give returns numeric scores based on certain items which may be high, out of line, or questionable.   They have an algorithm which can identify the returns which have […]

There is a new way to fund your retirement…report people who are not paying their taxes to the IRS. The IRS Whistle blower Office pays up to 30% for information on under reporting of taxes.  This is actually big business.  […]

Nursing homes are increasingly aggressive against children and others who received gifts or money from their parents. The concept is that if you take money from anyone who then winds up in a nursing home on Medicaid (the government), the […]

Tomorrow, there will be a 30% withholding penalty on any overseas payments to financial institutions that don’t share information with the IRS. So far, 77,000 financial institutions have agreed to share information and the IRS has entered into information sharing […]

In Connecticut, a Nursing home runs you about $12K if you private pay (more like $15K in Fairfield County).  If you are on Medicaid, the state pays the nursing home only about $7K. This is why the nursing home operators […]

With the advent of Obamacare and all the changes in the health insurance markets, sometimes the easy thing for the employer is to tell his employees is, “I’ll give you $2,000, you should get your own health insurance”. In the […]

U.S. Citizens and permanent residents (green card holders) living outside the U.S.may not be aware of their U.S. tax obligations. The rules for filing income, estate and gift tax returns and for paying estimated tax are the same as if […]

Medicare Medicare pays your health costs after age 65.  It does not cover nursing home care or assisted living.   It does not test either income or wealth. Medicaid On the other hand, Medicaid (I know the name is very similar and it […]