Richard Streitfeld – Buddhist Mensch

Stay In Your Groove
(Keeping Records Without Going Off Track )

Q: How long should I keep tax records? B. Madoff, investor A: In general it’s advisable to save documentation supporting your tax return for seven years. The IRS generally has three years from the date of filing to audit your return, but up to seven if it suspects you under-reported your income. If you didn’t
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Zen Mensch Accounting

Om Vey! Q And A with the Zen Mensch CPA
(Mindful Answers, What’s Not To Like?)

I’m aqua-phobic and I always pay my taxes on April 15, unless it’s raining. Wait a month and I ALWAYS receive a penalty notice from the IRS.  Why is my CPA screwing up and why haven’t I switched? Your tax return is due April 15, but taxes must be paid throughout the year, whether you are paid
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Zen Mensch Accounting

Retirement Carpentry
Making Sure Your Package Is Built To Last

It’s daunting.  You can barely pay the bills, fret about keeping your job, and your triplets will be in college at the same time.  (And then your accountant congratulates you on your increased income, but you didn’t realize your taxes go up and your credits go down — more on this soon!). So when Suzie Orman suggests
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Zen Mensch Accounting

Don’t Be A Fool, Pay On Time!
Your I.O.U. Due In Two

Hey — I have until October 15, right? I just file that handy-dandy extension while I get my paperwork in order, build up my stash of cash and then file and pay in the fall. No worries, right? Not exactly. If you are getting a refund, you can enjoy the procrastination and the government holding
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