Month of September, 2007

I just got off a phone call with one of our DKAffiliated CPAs, Frederick Schubert. We were discussing one of his new clients and he brought up a great point that I don’t emphasize enough. This is a mistake that we both see, again and again, when people try to “do it yourself” with a corporation.

Wow! Another great idea from my colleague Frederick Schubert. I am so excited to be working with so many smart CPAs. If you want to find out how you can work with a DKAffiliated CPA, please drop an email to Richard Cooley, at rfc@taxloopholes.com.

Category: General Posted by: Diane Kennedy Edit item We have a deaf puppy named Nacho (Nacho Ordinary Chi). I was watching him this past week and realized that there were 3 lessons I could learn from this little dog. Hang in with me to the end – there really is a point to this.

Nacho

Now that I’m back doing strategies again, I’m starting to see even more clearly just why the Solo 401(k) plan may be one of the best tax-planning tools to come along in years!

It’s been said that the three most costly words in the English language are “Do It Yourself.” Sometimes it can be downright dangerous – like in the case of brain surgery, which I’m not even sure would be a possible do it yourself project.

Do It Yourself … or Disaster?

I just did a workshop on eBay today covering 25 common mistakes that can lead to an IRS audit. It was a lively workshop with a lot of questions regarding business structures, sole proprietorships and audits, and the big one “I just sell a few things on eBay - do I have to report that income and pay taxes on it?” (The answer is “yes,” BTW).

I just got a couple of complaints that I buried the announcement that I was taking on a few new clients for personalized tax strategies.

I just noticed that Amazon has our next book, “The Maui Millionaires for Business”, up with all of the advance comments we received. It’s always exciting to read what people have to say about the book…even before it’s published.

The Maui Millionaires for Business

I know, I know - IRS and funny don’t go together. They don’t belong in the same room, and they may not even belong on the same continent.

Just when you think you’ve got the tax loopholes figured out…here comes another tax wrinkle. It’s called Alternative Minimum Tax (AMT for short) and it’s estimated that 10 million more Americans will fall prey to it this year.