Richard Streitfeld – Buddhist Mensch

Bliss Requires Careful Planning

  Catering Gone Sour Jerry and Joan were college buddies and started a catering business together, Taste Buddies. Three years in, Jerry decided to take a part- time teaching position and a leave of absence from the catering enterprise.  He later wanted to negotiate a return to the company, but Joan would have none of
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Richard Streitfeld – Buddhist Mensch

“But Officer…”
The Hazards Of Late Filing

  (It’s N’oreaster time in New England. So cozy up and read one of my favorite back issues. Funny, I didn’t need to update it.) CALL it the miracle of compound interest. Or the government’s interest in collecting taxes. However you cut it, your household or sole proprietor business can easily rack up hundreds or
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Richard Streitfeld – Buddhist Mensch

Bewitched by Medical Deductions

  Q: I am paying my mom’s substantial medical bills but she collects a pension and lives independently. Can I get any relief through my tax return? –Samantha Stephens A: Believe it or not — YES, under some circumstance. You CANNOT take Granny as a dependent, the way you canTabitha. Her $18,000 yearly income from
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Richard Streitfeld – Buddhist Mensch

YEAR-END TIDBITS

Q: You’ve been preparing taxes for 98,172 years. What kind of mistakes do you see year after year? – Mel Brookstein, the 1000 year old man A: Here’s one! Self-employed or taxpayers with substantial investments often do not keep accurate track of their estimated tax payments. The IRS and States do keep track, so you
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