The Bottom Line Blog

Odds are good that if you hear the words “Mike Tyson” and “money,” you think of the huge purses ($685 million!) that Iron Mike won,

Accounting and taxes are all about the rules we use to manage the numbers. And we express those rules in words. This brings us to this week’s sad story about a lawyer, not an accountant, blowing it with the wrong words.

We’re all cursed to live in interesting times. But someday . . . someday . . . life will return to a new normal. Our job is to keep taxes from making that return to normal any harder than it has to be. So, call us with your questions, to age 91, 101, or beyond!

It’s not just a new year, folks. 2020 is finally . . . finally . . . finally over! Have we ever needed a fresher start? This particular January is an especially promising time to look towards future goals.

If the Grinch really had stolen Christmas, he’d owe tax on it! Ill-gotten gains are just as taxable as any other kind of income. Fortunately, the Grinch can take advantage of all sorts of tax deductions to help him pull off his Grinchy plot.

Here at our firm, we’re just as relentless as Abdel Soliman about helping you pay less. We just don’t have to use smuggled cell phones or fraudulent W-2s to do it. Instead, we give you a plan that takes advantage of the tax code’s legal “green lights” to go while paying less.

2020 is bringing us a different sort of Thanksgiving, with less friends and family. But if you’ve made it this far, you’ve got reason to celebrate. Have confidence in knowing that if Washington ever does hit us with a work-from-home tax, we’ll be here to make the best of it. Have a safe and happy holiday!

Fortunately, the tax code stands ready with all sorts of deductions for disaster losses, environmental cleanup, and even tax-free reimbursements for employee medical costs resulting from space mishaps. There’s no rule that they have to occur here on Earth.

Cross-border tax questions present some of the thorniest issues in tax. For example: when an American company like Apple takes components from 43 different countries, assembles them into an iPhone in China, and sells it in London or Paris, who gets the income tax on that profit?

Billionaires and rock stars aren’t just like us. They’re billionaires. And rock stars. They have more money and gold records. Careful planning can still give us the tax savings they so obviously want, without risking a trip to jail or even making the news.

If you’d like lower taxes in your forecast, you can’t just put your faith in the stars. Call us for a plan, and your horoscope will call for savings throughout the year!