Bottle Cap Bookkeeping, LLC

06/29/2019

What my offseason looks like! Lots of research and professional development.

06/19/2019

Bottle Cap Bookkeeping, LLC is now an approved IRS Continuing Education Provider for Enrolled Agents!

01/29/2019

This is an important concept to grasp, especially as misinformation about marginal tax rates is rapidly spreading.

Right now, with the confluence of tax season and a lot of public discussion about tax rates going forward, many people are discussing the ins and outs of

12/11/2018

Here's a good way for small business owners to be heard by policymakers.

The annual Small Business Credit Survey (SBCS) provides timely insights on small business conditions to policy makers, service providers, and lenders.

11/04/2018

If you bank with a large financial institution, I recommend considering switching to a credit union. While convenience is a perk of big banks, there are also some pretty horrific potential pitfalls, not to mention the fact that big banks have been bailed out with taxpayer money. Here’s a podcast episode that details one bank’s transgressions (and is funny to boot).

Comedians Dave Anthony and Gareth Reynolds examine Wells Fargo Bank. SOURCES TOUR DATES

06/18/2018

In the U.S., federal estate taxation is often billed as a “death tax”, but this is a misnomer. Fewer than 1% of U.S. individuals end up paying estate taxes upon their death, due to both (legal) tax avoidance strategies and the unified tax credit. That number is likely to only decrease due to the fact that this credit doubled for 2018, so the first $11,180,000 may be excluded from estate taxation. The highest marginal rate of estate taxation is 40%. For 2018, the highest marginal rate of individual income taxation is 37%.

Takeaway: Unless you are a very wealthy person indeed - so wealthy that even tax avoidance strategies can’t get you under that $11 million mark - your estate will owe nothing to the federal government, and your assets can transfer tax-free to your heirs.

04/18/2018

In a surprise twist, yesterday wasn’t Tax Day. Thanks to an IRS technology snafu, there’s one more day to file and be considered “on time”.

Also, to note, if you are owed a refund, you can file within the next three years and still get your money back without a penalty. But you are loaning the federal government your money interest-free for even longer, so you might want to just get on it and get your money now!

The agency’s electronic filing system came back online early Tuesday evening after being down most of the day.

03/25/2018

The deadline for 1040s (individual tax returns) this year is Tuesday, April 17 - just three weeks away. If you still need help with preparing your returns, contact me, I'd be happy to help!

03/20/2018

It’s easy to think of the IRS as the big, bad wolf, but, in reality, the IRS is, first and foremost, at the mercy of Congress, who passes tax law. The job of the IRS is just to execute the law determined by our elected officials.

03/19/2018

I understand this feeling of helplessness, but unless you actually have no ability to save for retirement whatsoever, banking on the future to be drastically different from the present as your retirement strategy is a bit of a gamble, to say the least.

Despite what news media tells you, millennials do have plans for retirement — just not what you might think