Author - Marissa Adler

Important RMD changes! The SECURE Act.

Hello, Fellow Taxpayers, This letter is Really Short and Sweet, and will most likely be my last email until the new year (no cheering from the peanut gallery). After reading this letter, you can contact your trusted financial advisor or me. If you do not have one, let me know, I can make recommendations. Congress is set to pass the SECURE Act this week, pushing back the RMD age to 72 (for those turning 70.5 after 1/1/20). This sure will make those...

Questions and Answers from Clients – June 14, 2019

Hello Taxpayers, As you read this, I am attending an event in Orlando. Many of you know that I travel for different things after tax season. This month, I am traveling three times; one for networking, one for education (next week) and one where I am teaching other Enrolled Agents, CPAs and lawyers on tax issues (the week after in Reno. Heck, someone has to do it). So as Willie Nelson sings, “On the Road Again.” You can see the video...

RIP Rainbow Dave – May 24, 2019

Hello Fellow Taxpayers, I hope you have some fun plans for this weekend’s Memorial Day. Unfortunately, a good friend of the Treasure Coast, David Guizerix or Rainbow Dave to those that knew him passed away this past week. I will not go into the details, but Dave was young, way too young to pass on. He left a loving wife and adoring children, not to mention other family and more friends than almost anyone I know. He had a good business,...

Tax Tip….RMD & QCD! – May 10, 2019

Hello Fellow Taxpayers, Ali, Marissa and I are in LA attending our mastermind meeting in LA. However, I want to share some information with you. We are always working hard to improve our practice and service and meetings like this help take us to the next level. Under the Tax Cuts and Jobs Act, many taxpayers did not have to itemize their deductions on their tax return, which was one of the reasons for the new law. The other reason for the...

New IRS Notice? – May 3, 2019

Hello Fellow Taxpayers, This week, I was in DC attending the IRS Advisory Council meetings. My fellow members and I, work to help the IRS in their quest to have an effective tax administration (don't laugh). I want to bring up an issue that you may find interesting. Over the past few years, I have advised you that the IRS, in 99% of the cases, will not contact you by email and all letters via snail mail will look and feel official. If...

Forming New Companies – April 26, 2019

Hello Fellow Taxpayers. The tax season crunch is over, at least for now. Next week I am starting my travels to speak around the country. Although not as much as last year. Next week, I will be in DC attending the IRS Advisory Council spring meetings. This session, I am on the Wage and Income Subgroup which looks at things associated with form filling and security. Speaking of which, the IRS has announced (News Release 2019-58) that it is making a change. This...

What makes a lease a lease? – April 19, 2019

What can get truly ugly, my fellow taxpayers? A tax surprise!   Arthur E. Boyce claimed a $28,749 Section 179 deduction for the cost of his new truck. In walked the IRS, and it denied the Section 179 deduction because Boyce leased the truck that he thought he purchased. The court ruled for the IRS. Good-bye, $28,749 tax deduction. SURPRISE!! Pertinent Facts The contract between Boyce and Dan Wiebold Ford Inc. was titled “Motor Vehicle Lease Agreement—Closed-End” and called for Boyce to Make fixed monthly payments...

Until We Meet Again… – April 12, 2019

Hello, My Fellow Taxpayers, I am writing this email during a brief lull in my last-minute craziness. There are only a few days left in tax season! However, I am still be overwhelmed with calls asking about filing tax returns. My question, "When can I get your paperwork?" Many say by Friday afternoon, so I tell them, we will have to file an extension and they hang up. Many of you that are already our clients have provided me your papers or...

Extension – March 29, 2019

Hello Fellow Taxpayers, April 15th is only 18 days away and your tax return is due by midnight on the 15th. Just for kicks here is a list of the 10 most popular reasons for filing late or not filing at all: 1. Laziness 2. Forgetfulness 3. Confusion 4. Death or Serious Illness of Taxpayer or Immediate Family 5. Invalid Advice From a “Competent” Professional 6. Active Duty Military Service 7. Incarceration 8. Ignorance 9. Destruction of Records 10. Belief That Paying Income Taxes is Voluntary Are you using one of these reasons...

Conclave – March 23, 2019

Hello Fellow Taxpayers, Even if you are not a college basketball fan, you may have noticed that the NCAA is starting their tournament to crown the 2018/2019 college basketball champions. Schools that win their conference (and there a load of them) automatically get a bid to the tournament. There is a committee that goes behind closed doors (not unlike a Conclave) and picks the remaining schools to come to a full 64 colleges. It is like selecting a baseball all-star team...