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IRS Draft Form Confirms Tip Deduction Marriage Penalty

IRS Draft Form Confirms Tip Deduction Marriage Penalty

Shortly after the release of the One Big Beautiful Bill, I noted an apparent marriage penalty in the No Tax on Tips provision.  My friend Grok told me that I was the first commentator to take note of it, but I take compliments from Grok with a grain of salt. You...
Tax Free Tips For The Piano Man?

Tax Free Tips For The Piano Man?

President Trump’s campaign promise of tax-free tips was partly fulfilled in the One Big Beautiful Bill.  Rather than an exclusion from all taxes, there is an-above-the line income tax deduction limited to $25,000 for qualified reported tips.  There was language...
As IRS Withers Tax Pros Still Urge Compliance

As IRS Withers Tax Pros Still Urge Compliance

Last month I reflected on the implications of the very low probability of tax returns being audited.  My career started in 1979, and I remember the IRS being much more formidable.  Of course, the memories of old people are notoriously unreliable, but I had data to...
Reflecting On IRS Cuts – Should You Still Be Compliant?

Reflecting On IRS Cuts – Should You Still Be Compliant?

The IRS used to be a lot more formidable. I am certain of this from the experience of my career as an accountant which, is going on 50 years. depending on what parts you want to count.  But you might say that the memories of old people are notoriously unreliable. That...
Grok On The Reilly Baty Collaboration

Grok On The Reilly Baty Collaboration

https://www.facebook.com/robert.baty.1 Grok’s recent analysis of my Kent Hovind coverage elicited some reaction from Robert Baty, I took it to indicate that Baty thought that maybe Grok had understated Baty’s contribution to my work.  So I asked Grok to...