We all complain about the crazy and sometimes foolish behavior of the Internal Revenue Service. But, other taxing entities such as states, school districts and municipalities can be just as bad. These other taxing entities have no qualms in spending $100 to collect $10 in extra taxes. They are also quick to charge interest and penalties on anything and everything.

If one of these notices comes your way, please check immediately with your tax advisor. This piece of mail is not to be ignored.

Self-directed IRAs are not for the faint of heart. There are many ways for a seemingly innocent misstep to “blow-up” your IRA, causing your retirement funds to be taxed along with some BIG penalties and interest.

Many people including me want to make things hard. Because, if it isn’t hard, it is not worth doing. That old adage too often doesn’t carry its own weight.

Our featured WSJ article by Heidi Mitchell was published on November 4, 2021. It discusses studies that show that humble entrepreneurs are able to raise more money than ones who are not.

From a cash flow standpoint, the IRS, the state, school districts and cities can’t lose when it comes to gambling. From a tax standpoint, whether you win or lose at gambling. - you can’t win.