Bill Zumwalt's (teamzumwalt) Blog

This week the Supreme Court decision with regard to same sex marriages will have far reaching effects from a tax stand point.  It appears that a legally married same sex couples can  now file joint federal tax returns. But does this also mean  they can go back and amend the last three years feder...

For those of you who get my Wednesday blog/tax tips newsletter you will know that it was all about how the IRS loves June weddings. The newlyweds tax rate has just gone up. The IRS is going to make more money! I wrote this piece because our middle daughter,  Nicole  and our  youngest son , Chris ...

Yesterday I taught a continuing education class to about 50 real estate agents in Tulsa. As I had everyone in the room standup and talk about themselves I was surprised at how many of the agents were still sole proprietors. Of course the subject matter was the tax evolution of a real estate agent...

You've all heard that April showers bring May flowers. That's fine and all, and it doesn't leave anything for the IRS unless you're a farmer or a florist. But June brings brides — young brides, old brides, blushing brides, even bridezillas. Now the IRS pays attention, because now the IRS gets to ...

Well let’s see. The IRS has finally been able to get account information from Swiss((UBS) and London (HSBC) banks now for a few years. This has been coming for a long time and many people thought it would never happen and that their hidden bank accounts were safe from IRS scrutiny. Well we have w...

When most of us think "taxes," we think of federal taxes -- the IRS, Form 1040, and everyone's favorite holiday, April 15. It's true that the IRS is full of Very Serious People collecting Very Serious Taxes. But we can't forget state and local governments either. They collect their fair share of ...

Buying New Rental Property-Here’s a tip that will save you money!Most taxpayers when setting up a new property will break down the cost between the value of the land (which is not deductible) and the building.  The building is depreciable over either 27.5 years (residential) or 39 years (non resi...

We all love to download apps to our phones. We search and search to find an app that will do what we are looking for or save us some money or help us get more organized.  You start the download process but wait- there’s all this legalese we have to read (lol) and agree to follow. Well guess what....

When it comes to audits, our friends at the IRS are interested in examining returns as accurately as possible. (No, they're not just interested in squeezing out more tax, and some audits actually result in refunds.) So the folks in the Small Business/Self-Employed area have compiled a series of A...

Sunday was Father's Day, and if your family is like most, you talked about golf, or fishing, or the latest happenings on Duck Dynasty. You probably didn't talk about taxes, just because Dad doesn't like paying them! So here are some "father and family" themed tax quotes to put a smile on your fac...