Rod's Blog

Happy 2016! We mean that literally.

As tax season rolls around, the IRS has issued a few announcements that should make you very happy indeed.

As April 18th gets closer and closer, so does the big decision: should you do your own taxes with online software, or should you grit your teeth and hire a professional accountant?

We’re not about to make that decision for you.

But we can tell you the good things and the bad things about hiring a pro. After that, it’s up to you.

Have you ever wondered where that extra $10 at the end of your cell phone bill comes from?

It’s actually a federal tax, and it’s a surprisingly high one – 17.3%, on average, of your current phone bill.

This is probably news you didn’t want to hear.

By now, you should know that you really never get away with anything.

The IRS is ALWAYS watching.

And they want to see that you report every last little bit of money you make – even things that you wouldn’t think counted as “income.”

When people don’t report their entire income, the government suffers from a sad condition called the tax gap (the amount of taxes that go unpaid every year). We can’t have THAT.

You already know that you have to report wages, salary, commissions, tips, interest and dividends on your tax return (Form 1040). (At least, we hope you know this!) But did you know....

Yes, Virginia, there is a Santa Claus.

It's the season of magic, and miracles are still possible. In order to get you in a good mood for the holidays, here are a few things you might not have to pay taxes on, for a change.

Some of them will definitely surprise you.

Nothing to get you in the holiday mood like some nice, cheerful talk about taxes, is there?

Fortunately, the IRS is less naughty than nice around this time of year. Your year-end charitable deductions can get you a bit of a break on your taxes – if you fill out all the right forms, make your list and check it twice. Some important tax law revisions have taken place over the past few years, and you need to make sure you’re up to date.

Here’s what you need to know about charity deductions…courtesy of the jolly old IRS.

Here's the next installment of our exciting IRS history series – the story behind all those taxes you have to pay.

We know you were on the edge of your seats.

How come we have to pay all these taxes?

We know that you ask yourself this question every year – or, hopefully, every quarter.

So here are some answers.

Believe it or not, the IRS isn't all bad.

It's hard to hate farmers and ranchers – especially ones who live and work in drought-ridden states. And it seems that even the IRS has a bit of a weakness for the agriculture business.

Good news! If you own a ranch or farm and you've taken a blow this year, the government has issued an extended tax relief period just for you.

Sorry to break it to you.

You know those commercials you’ve seen that promise you’ll only have to pay “8 to 10% of your tax debt” or “pennies on the dollar” if you make an offer in compromise?

Those commercials are wrong. Or at the very least, misleading.