IRS Audit Red Flags
Certain red flags could increase your chances of getting the attention of the IRS. Luckily, the chances that your tax return will be chosen for an audit are very low. The IRS audited les than 0.5% of all tax returns in 2019. The majority of exams were by mail, which means that most taxpayers never
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Market Commentary – Feb 1, 2021
The Markets They say people watching the same event often see different things. That seems to have been the case last week when share prices of a few companies experienced tremendous volatility. Some cast the events as a David vs. Goliath morality tale, however, Michael Mackenzie of Financial Times saw it differently. He wrote, “…a
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The Tooth Fairy – Around the World
Around the world, COVID helped make 2020 one the most challenging years ever for dentists. The Dental Tribune reported most dental offices around the world closed their doors in March. While most eventually reopened, the impact on dental practices and suppliers was significant. Many adopted cost-cutting measures. The Tooth Fairy did not suffer the same
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The Life of a Twenty Dollar Bill
The Treasury Department prints millions of notes. The following information was obtained from U.S. Bureau of Engraving and Printing and details what goes into creating a $20 bill and when its lifespan ends. Paper A $20 bill starts out life as part of a large sheet of paper. While most paper is made primarily from
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Our Massive Tax System – By the Numbers
The size of the US Tax Code has increased quite a bit over the last 100+ years. Two of our most important historical documents, the Gettysburg Address and the Declaration of Independence have 272 and 1,337 words, respectfully. Our Federal Tax Code was formally established in 1913 and had 9,337 words. It has grown to
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Market Commentary – Week of Jan 11, 2021
The Markets The event at the United States Capitol building had a resounding impact around the world, but it didn’t deter global stock markets. Last week, investors weighed the violent disruption of America’s 2020 presidential election process against the outcome of the Senate runoff in Georgia, and decided the latter was more significant. Financial Times
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New Relief Package Overview
Much of the focus of the new relief package has been on the $600 payments to individuals, but the 5,000+ page act covers a lot more including, small business loans, funding for the COVID-19 vaccine and unemployment. Refundable Tax Credit The $600 individual payments, in addition to the $1,200 payment under the CARES Act in
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Always Risks
After a year of living with the fear of COVID-19, many investors are hoping 2021 will bring a return to ‘normal,’ even if the new normal may not be exactly like the old one. Optimism about the future has many investors feeling bullish, according to most of the sentiment surveys listed in Barron’s last week.