Allan Rolnick's (taxcoach) Blog

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Industry Observer - TriState Tax Resolution LLC
RECENT BLOG POSTS
           Would anyone in their right mind sit down from scratch and develop the tax withholding system we have today? The IRS publishes tables telling employers how much to take out of everyone's paycheck, depending on their income, their filing status, and the amount they guesstimate they'll b...
02/22/2019
By Allan J Rolnick, CPA, CTC It’s the thick of tax season 2019. And I don't like to crow about other's mistakes, but this needs to be said. It may be self-serving, but it’s true. In our line of work, much of what we get to do is to *fix* or alleviate those mistakes, at least when it comes to the...
02/20/2019
          Just a couple of generations ago, it just wasn't polite to discuss money. We mostly knew who was rich and who wasn't. But it wasn't until about 1984, when crack investigative journalist Robin Leach launched Lifestyles of the Rich and Famous, that Americans began following celebrity hous...
02/15/2019
Get ready.  You may be about to experience another encounter with the law of unintended consequences. The Tax Cuts and Jobs Act gives you a possible 20 percent tax deduction on your rental property income. But that’s only if your rental property is a trade or business, and that comes with its own...
02/13/2019
Not only are we entering into the thick of tax season, but based on our political situation, we could be staring at another federal government shutdown on Friday.Which means, well ... we don't know exactly what it will mean except that God bless you if you are trying to get help directly from the...
02/11/2019
Two questions:  Did you prepay your 2019 rent so that you have a big 2018 tax deduction? How do you identify in your accounting records the monies you put on your IRS Form 1099-MISC for the business rent payments to your landlord?  For the 1099-MISC, do you simply look at your checkbook or paymen...
02/01/2019
Raise hands to heaven, the IRS can finally start dealing with its problems again.The end of the IRS shutdown (for now), means that we can get moving on some things that have been holding us back, including getting wage levies removed, and all of the other pressing matters we work hard to fix on b...
01/30/2019
If you use triple-net leases for your rental properties, you may wonder whether you’ll get your Section 199A deduction.  We don’t have a clear answer for you, so we are going to go with “maybe.” As you’ll see, we need more information. A triple-net lease requires the lessee to pay the landlord re...
01/29/2019
As a realtor, listings are your bread and butter. Whether a listing presentation succeeds in convincing sellers to list, is about your ability to present yourself better than the competition. However, it typically starts with the ability to overcome seller objections (to listing the property, to...
01/23/2019
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           Americans love puzzles, games, and brain teasers. Newspapers publish crossword puzzles, word-search puzzles, and word jumbles. Bookstores sell jigsaw puzzles. And airport gift shops stock Sudoku puzzles to pass the hours in the sky. We love puzzles so much that someone found their way ...
01/23/2019
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Allan Rolnick

Small Business Tax Strategist
local_phone718-841-7317
smartphone917-391-8467
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