Mark Gleason's Taxation of Small Business Blog

TIGTA Report July 2017 – Employer Payroll Taxes

Auditors Auditing the IRS Say IRS Not Working Cases With $6.8 Billion Potential Under-Reported Taxes A recent report issued by the Treasury Inspector General for Tax Administration (TIGTA) criticizes the IRS for having an inadequate case selection process for investigating … Continue reading

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The Most Difficult Sentence To Understand In The Tax Code

The Most Difficult Sentence To Understand In The Tax Code Today I am going to share with my readers, Internal Revenue Code Section 509(a), which is supposed to be “legendary as the most difficult sentence to understand in the tax … Continue reading

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ROTH IRA’s for Young Workers

Summer is almost here. Although the official beginning of Summer is a couple weeks away, many college and high school students already have found summer employment and are hard at work.  Others will be starting their summer jobs in the … Continue reading

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Get Your Social Security Estimate Online

In 2011, the Social Security Administration (SSA) stopped the previous practice of sending out annual estimates of Social Security Benefits. However, there is an online calculator on Social Security’s web site which gives users a good picture of what their … Continue reading

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WHO ARE THE TOP 1%?

We hear about the top 1% all the time. Who are these 1%? The most frequently represented occupations of taxpayers in the top 1% of US taxpayers, according to IRS data, include: corporate executives, financial professionals, doctors, lawyers and a … Continue reading

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Is Your Will Up To Date?

Is Your Will Up To Date? If your will (or revocable trust document) has not been revised in the past five years, it’s time to dust it off and see if it still states your wishes.  Changes in your family … Continue reading

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IRS Reacts to to Presidential Order Gutting the Affordable Care Act

IRS Reacts to to Presidential Order Gutting the Affordable Care Act. The IRS has announced that electronic and paper returns will no longer be rejected and not processed for failing to the answer to the question, “Did the taxpayer have … Continue reading

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IRS Boosts Service Dogs

IRS Boosts Service Dogs Service dogs, the canines that lead the blind and provide emotional support, have been gaining in popularity.  They are helpful in many contexts and enjoy special status under the Americans with Disabilities Act.  They also have … Continue reading

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The Greatest Tax Cheat In History

The Greatest Tax Cheat in History Paul Daugerdas, a lawyer and certified public accountant from Wilmette, Illinois, seems to have won the world record for the biggest tax cheat in all history. He was sentenced recently to 15 years in … Continue reading

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Revenge is a Dish Best Served with Hard Cold Cash

Revenge is a Dish Best Served with Hard Cold Cash A recent Tax Court Summary Opinion tells a tale of greed, betrayal, and revenge. Mr and Mrs Kososki were in the process of terminating their marriage.  Shortly before separating they … Continue reading

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Mark Gleason

7200 France Avenue South
Suite 328
Edina, MN 55435

Tel: 612-861-4542
Fax: 612-524-5491

mark@lakes-cpa.com

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