Our Blog

  • Moving to A New Home Is Done Better By Most Than Changing Accountants. Here’s Why!
    by TaxDoctor on July 19, 2019 at 1:13 pm

    Summer is a popular time for people planning a move to put their home on the market.  It happens all year long of course, but the “hot season” is May-September.  There are many reasons.  School is out and if you have kids of that age it’s easier to change schools between grades.  Often, it’s when summer vacation schedules come around and except for tourism many industries slow down and moving done well takes at least a week and two weekends.  It’s easier to move without snow, so for some of the country that’s also a factor.  There’s are many more reasons, but Summer is when a “wave” takes place.  It’s hard work, stressful and a pain in the neck (and other […]

  • Does the IRS Really Have “Yard Sales?” Yes, All The Time!
    by TaxDoctor on July 12, 2019 at 1:48 pm

    The tax code is much more fluid than the public is truly aware of and deductions and credits come and go all the time.  Deductions like mileage for business owners change with the cost of gasoline, for instance, and can go up and down annually.  Often, it is actual programs that come and go, like energy tax credits or being able to transfer an IRA to a charity directly without paying income tax but still satisfying RMD requirements.  Often, these programs are temporary, and depending on whether the government believes that they have met their objectives, sometimes expire, or may become permanent.  Capital Gains has remained on sale!  It’s been changed over the years, but under the original Bush tax […]

  • Summer is the Time to Fix your Income Tax Problem!
    by TaxDoctor on June 27, 2019 at 1:52 pm

    It’s June.  In a few short months people will be filing their 2019 tax returns with a familiar recurring Moooooan and Grooooooan. Now is the time to take your preventative medicine and avoid the pain! Being human, we all form habits.  Some good.  Most bad.  We try to develop good ones to replace the bad ones and often we are successful, but most successes don’t come without a coach, cheerleader or some kind of support. Tax time is usually a time of regret over not being successful at last year’s promise to oneself, “I not going to pay this much again.  I`m going to keep better records and search out a tax planner or some professional help and get smarter […]

  • Are Taxes Fair?
    by TaxDoctor on June 20, 2019 at 5:38 pm

    The answer to that might surprise you.  Because, for the most part, the answer is yes.  However, sometimes they are only fair if you know how to “play the game”.  Most people think only the wealthy can avoid paying income tax because they know how to play the game.  Well, at a much lower level, everybody knows some of the tricks to “playing the game”.  For instance, you might be contributing to your 401k at work.  Well you’re playing the game.  However, you might not know that even though you’re contributing everything you can to your 401k at work, you’re still allowed to open an additional private IRA, and take another $6,000 or $7,000 off of your taxable income.  That trick is “knowing the rest of the rules […]

  • Time and Tide Wait for No Man
    by TaxDoctor on June 14, 2019 at 3:40 pm

    Taxes, like rain in the Spring, are a constant, but you can open an umbrella.  Many people are looking at their calendar and seeing the end of June, and although they have great intentions in March and April of getting proactive in and around learning how to mitigate this year’s tax outcomes, the time has slipped by.  People that should be storing capital differently in that stock brokerage account have already been paid six months in dividends that are coming to them as a 1099 next tax season.  Those people that meant to move the funds out of the bank are going to receive six months of interest now.  People who see the calendar, see the date, and are already […]

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3225 Broadway Ste A
Glenburn, ME 04401
1-207-884-6852

US Tax Centers of Bangor

 

3225 Broadway
STE A
Glenburn, ME
04401

1-207-884-6852