Bill Zumwalt's (teamzumwalt) Blog

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Services for Real Estate Pros - William T. Zumwalt CPA, CTC "The Tax Coach for REALTORS"
RECENT BLOG POSTS
It was reported that the companies that perform as independent contractors for the IRS have 700 employees that owe the IRS $5.4 MILLION !! And what’s even better is that of the 700 employees more than half are not eligible  to work for their employers on IRS business since they are not in an inst...
11/27/2013
Will this ever stop? On Wednesday special agents of the Criminal Investigations unit arrested Kamal J. James , aka “Bro Messiah Aziz El and Crystal G. Hawkins, aka “Sis. Crystal Gabri El. They were charged with one count of Conspiracy to Defraud the US. Seems this pair had a company called Releas...
11/26/2013
Back in 1621, a group of hardy Pilgrims sat down for a three-day festival of thanksgiving to celebrate surviving plague, starvation, cold, scurvy, Indian attack, and all the other obstacles that made life in the "new world" so delightful. They feasted on game birds, flint corn, venison, eels, she...
11/26/2013
The IRS announced that the government shutdown will cause the filling of tax returns until February 4th, 2014. The normal date that the IRS would have accepted returns was January 21st 2014. This past closure came during a peak time period when the IRS is finalizing the programs for the coming ye...
11/25/2013
Last month Bank of America was found liable for fraud on defective mortgages sold by its Countrywide mortgage company. After a four week trial in Manhattan, it was determined that Countrywide originated shoddy home loans in a process called High Speed Swim Lane or  “Hustle” and then sold the loan...
11/25/2013
Law reviews are scholarly journals focusing on legal issues, usually edited by students at a particular school. America's law schools currently crank out hundreds of different reviews, which means there aren't a lot of topics that haven't already been covered. (Chief Justice John Roberts once sai...
11/24/2013
It’s Sunday morning and the clocks have been set back for daylight saving time. I ‘m sitting  in my principal (home) office working on a year- end tax plan for one of my more successful agents when I realize that it is not only November but the new year is  less than 60 days away. I bet you have ...
11/24/2013
Many of you know that our family is heavily involved with the Boxer Rescue of Oklahoma organization. Last year my wife, Debbie chaired the first annual fall party to raise money for this wonderful organization. Over $17,000 was raised to help with this worthy cause. This year our daughter, Nicole...
11/22/2013
Doesn’t it just give you a warm fuzzy feeling that the IRS has a heart and has increased over 40 tax provisions for 2014.  Some of those that are more well known are: 1) The maximum tax rate of 39.6% now starts at $406,750 for singles up from $400,000. While joint filers the rate starts at $457,6...
11/21/2013
The holidays are here, and millions of Americans kicked off the season with “Black Friday” shopping. Braving the crowds and the cold, facing scorn from family they’ve left behind, they line up at obscenely early hours (or duck out of Thanksgiving dinner before the pumpkin pie is even served) to s...
11/21/2013
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