Allan Rolnick's (taxcoach) Blog

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Industry Observer - TriState Tax Resolution LLC
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 The Cambridge Dictionary defines "digging your own grave" to mean doing "something that causes you harm, sometimes serious harm." Kids who don't do their homework, politicians who cut popular spending programs, and people who overshare on social media all dig their own grave in one way or anothe...
03/24/2020
    If you're like most Americans, coronavirus quarantines and "social distancing" mean you're going to spend a lot of time in front of your TV binging on Netflix, HBO, Amazon Prime, and Disney+. If you're working from home, you'll spend more time listening to your favorite music on Pandora or Sp...
03/16/2020
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    When talented musicians join forces, they epitomize Aristotle’s maxim: “the whole is greater than the sum of its parts.” Collaboration is the essence of music, and even the most technically proficient soloists benefit from an ensemble framing and highlighting their skills. You can’t whistle ...
03/12/2020
  After years of flying under the radar, taxpayers who hold Bitcoin, Ethereum, Litecoin, and other cryptocurrencies are finally getting their fair share of scrutiny from the IRS. The tax agency, it seems, has figured out that cryptocurrency is here to stay, and that the mind-boggling returns earl...
03/04/2020
 This time of year, most Americans living in the northern half of the country are dreaming of sunshine. But there's a heartier, usually affluent breed that can't get enough snow. In Vermont, at resorts like Killington and Stowe, Ivy League students spend weekends hitting the slopes by day and don...
02/24/2020
 Hollywood legend Kirk Douglas, who died last this month, played nearly every role in his career: actor, director, producer, and writer. He was born before the first "talkie" hit theaters. He grew up one of seven children in an impoverished home. Then he worked his way through St. Lawrence Univer...
02/17/2020
  Of all the creditors or companies you might owe money to, the Internal Revenue Service can be the least forgiving about debt. If you don't pay your taxes, the IRS will levy and take possession of your property, including cash accounts, wages, and real and personal property. The IRS will sell no...
02/13/2020
  Every year, there are millions of taxpayers who find themselves unable to pay their taxes in full to the IRS. The IRS knows there will be some taxpayers coming up short. The good news is the federal government is happy to work with you. The bad news is, they’re relentless in their collection of...
02/07/2020
 The French newspaper Le Monde called it "the robbery of the century." So what was it? A Mission Impossible-style crew of balaclava-wearing acrobats bypassing sophisticated alarms to burgle a museum or gallery? Or maybe it looked like one of those "Oceans" movies: a crack team of hardened special...
02/06/2020
 It's 2020, and yet in today's Disneyfied America, little girls still dream of becoming princesses. Really, what's not to like about it? You get all the pomp and circumstance of the royal court without the inconvenient stress of actually running the country. You get to show off the crown jewels. ...
01/27/2020
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Small Business Tax Strategist
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