From the Archives

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From the Archives: Yes, You Have to File a Tax Return Even If You’re 72 Years Old

By | November 21st, 2016|Categories: From the Archives|Tags: , |

There's a rumor out there that you can stop filing tax returns when you turn 72. This rumor is not true.

From the Archives: Baseball and “Games Behind in the Loss Column”

By | September 8th, 2016|Categories: From the Archives|Tags: |

The concept of “games behind in the loss column” is really only relevant if two teams have played an unequal number of games. Why do pundits use this terminology so much? Because it reflects how much a team “controls its own destiny.”

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From the Archives: Send a 1099-C to a Non-Paying Customer? Updated

By | September 6th, 2016|Categories: From the Archives|Tags: , , |

Can you send a 1099 to a deadbeat client? It's probably legal, but probably not a good idea.

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From the Archives: Do Extreme Couponers Pay Tax?

By | July 8th, 2016|Categories: From the Archives|Tags: , |

It's a holiday week, so I'm re-posting popular stories from the past. A few years ago a show called "Extreme Couponing" was on TV. I decided to explore the tax consequences of people who use dozens (or sometimes hundreds) of coupons to end up paying almost nothing at the grocery store. A common search term that [...]

From the Archives: Taxpayer’s Drag Racing Team is Not a Business

By | July 6th, 2016|Categories: From the Archives|Tags: , |

Image courtesy of Pixabay.com This post from 2011 is quite popular. It's about a person in Minnesota who had a drag racing team which showed substantial losses each year. He took those losses as business deductions on his tax return, but the IRS and Tax Court said "no." The moral is: if you say [...]