Wednesday, January 7, 2009

Introduction

I am embarking on a great adventure, blogging. I’m sure it will be fun, frustrating and frantic at times (notice the alliteration, just like the name.) As the title says, this blog is about taxes. Generally it will focus on your relationship with the Internal Revenue Service. I know, you don’t want a relationship with the IRS. Too bad, you have one. The intention is to provide information that might help you save some money on your taxes and could keep you out of jail.

The blog will stray into areas of interest to me, like soccer, my wife, my kids and grandkids. Occasionally it will wander into my opinions but they will be clearly labeled as such. I will even try to make it humorous but remember, I’m a CPA.

I plan on blogging 2 or 3 times a week and encourage your comments and questions. I will be reviewing and editing them if necessary. Write them as if your mother was reading them. Please see my comment policy.

Legal Warning: The information in this blog is as accurate as I can make it. Consult me or your tax professional before using anything posted here on your tax return. Your circumstances may be different than those assumed in the postings. Please see my disclaimer.

3 comments:

Jill said...

Welcome to the world of blogging Thom!! You're doing great!!!

Jill Adamy
Vario Creative
variocreative.com

Dave Kellerman said...

Thom--
Nice blog!
I wonder if you could comment on the new breaks being given by the IRS for small businesses.
I believe one can now either 100% deduct or amortize any and all purchases.
If one owns a one person LLC, is it possible to call a personal purchase a business purchase and take it off the top?
TY
Dave

Thom said...

Hi Dave

I will explain the 100% deduction you mention in about a week.

Unfortunately you cannot take a personal expense as a business deduction. If the purchase is part business and part personal then you could certainly take the business part.