Author Archive | Borbala Banto, CPA

We usually try and keep these dispatches light and entertaining. We know you’d rather read about “Tax Strategies for Somali Pirates” than, say, the latest regulations governing domestic international sales corporations. But every so often it’s time to put on our serious face, and this is one of those times. By now, of course, we […]

Happy New Year! 2013 is here, and after months of post-election sound and fury, we took a quick “test leap” off the dreaded “fiscal cliff.” Look out below! By this point, we’re all familiar with the income tax consequences of the cliff. The Bush tax cuts expired, as scheduled, on December 31, sending everyone’s taxes […]

We all know money can’t buy happiness, blah, blah, blah. But money can buy a lot of other good stuff we all want – like comfort, security, freedom, and independence. So, last week, millions across America lined up at gas stations, convenience stores, and bodegas to take a shot at last week’s record Powerball jackpot […]

Last week marked the celebration of our most uniquely American holiday. No, we’re not talking about Thanksgiving. We’re talking about Black Friday, our national homage to consumerism, conspicuous consumption, and all things capitalist. Walmart and other “big box” retailers pounded a final nail in Thanksgiving’s coffin, opening at 8 pm that night so shoppers could […]

Happy Thanksgiving! As we celebrate Thanksgiving, I wanted you to know how grateful I am to have YOU as a member of my valued community! The holidays are here, and millions of Americans are kicking off the season with “Black Friday” shopping. Braving the crowds and the cold, facing scorn from family they’ve left behind, they line […]

Hurricane Sandy roared ashore last week, interrupting our regularly scheduled election already in progress. And yes, we’ll be addressing election results shortly, especially as we get more guidance on what to expect for your taxes. But we’re impressed, as always, with how a natural disaster brings out the best in Americans, and we’re pleased to […]

There’s no denying that amateur sports, especially college football, are big business. Together, the 15 top-grossing teams score over $1 billion in revenue, with the University of Texas Longhorns alone generating $71.2 million in profit. Numbers like that would normally make the “receivers” at the IRS smile. But college football is different. The big Division […]

Ordinarily, we use these posts to discuss fun items related to taxes and finances. We know that you can read the usual boring articles about the usual boring tax topics pretty much anywhere else. And most of you are happy to let us worry about “the details.” Every so often, though, we need to discuss […]

If you don’t take care of your taxes, you risk some pretty expensive fines and penalties. Some of those amounts are fixed, like $89 per partner per month for failing to file your partnership return. Others are based on the actual tax due, like the 10% penalty for failing to file employment taxes. If the […]

Earlier this week, the Academy of Television Arts and Sciences handed out their 64th Primetime Emmy Awards. Showtime’s political drama “Homeland” was the big winner – stars Damian Lewis and Clare Danes won Best Actor and Best Actress, and the series itself won Best Drama. AMC’s period drama “Mad Men” was the big loser, failing […]