Our Blog

  • Chipping Away at the Tax “Snow Pile”
    by TaxDoctor on February 22, 2019 at 4:21 pm

    In the great Northeast, three quarters of the way through February, the snow piles are getting higher and higher in the mall parking lots and at that intersection you can’t see around that everyone hates.  It didn’t happen all at once.  Our first snow was in October this year.  It didn’t stay, but it set the pace for five months of winter.  As each storm leaves it’s trace, some melts away, some gets rained away, but overall it accumulates.  We might get ten inches, but only three really ends up on the pile.   Then another five inches, but this time all five end up on the pile, etc.  Your tax burdens build up the exact same way.  And there isn’t some magical button you […]

  • The Light Bulb Moment
    by TaxDoctor on February 15, 2019 at 2:42 pm

    Ever had a “light bulb” moment?  I have been driving for many years.  I’ve driven at least a million miles and I own a few cars (I collect certain types), and when driving my spouse’s car or one from the collection that I haven’t driven in a while, inevitably it’s time to gas up.  I pull up to a pump and get out and realize that the gas cap is on the other side, back up the car, turn it around with a sigh and fill it up. Then this year the “light bulb” moment.  While trying to figure out the dashboard “iPhone” charger fuse location, I happened to be looking at the diagram of the fuel gauge in the manua […]

  • Tax Planning Is Like Surfing
    by TaxDoctor on February 8, 2019 at 3:11 pm

    Not that we get much surfing here in the Northeast, but we have seen plenty of footage all the way back to the competitions on ABC’s Wild World of Sports.  Yup I’m that old.  The surfers sit and look at the horizon and anticipate the size of the waves.  It’s not an exact science, but they make their choice and then, the most important part, the proactively paddle like crazy toward the oncoming wave crest well ahead of its arival.  This allows them to meet the wave on their own terms, rather than seeing what they get when it gets to them, as they sit and do nothing.  Because of this action, they turn in time to ride the wave, and show off […]

  • Don’t Let The Tax Tail Wag The Dog! It’s A Giant Cop-Out At Best And Malpractice At Worst.
    by TaxDoctor on February 1, 2019 at 2:44 pm

    In the “old days”, you went to the general store for your dry goods, the blacksmith for your horse shoes or tool repair and likely had your own cow and chickens for milk and eggs.  Fast forward, you went to a lawyer to get a will, an insurance man to get a policy and an accountant to get your taxes done.  There was no internet, so information was something you had to gather and organize yourself.  You would talk to a few co-workers, a family member, a mentor and then take actions based on the limited intel.  Back then, you would sit with a financial advisor, and if they were a big deal they might have a globed ticker pumping out […]

  • Use the Government Shutdown As a Lesson In Your Own Tax Management
    by TaxDoctor on January 25, 2019 at 4:52 pm

    There are many types of taxpayers, but three common categories are: A. Those who are getting a refund which is “our money” back. B. Those who are getting their own money back and think it’s a refund but it’s really not. C. Those who are paying in, and not getting a refund. The first are the group of Americans we support as a society and for whatever reason, and whether they are hard working or not are earning under a livable wage, so we supplement their annual income with credits. Depending on the number of children and other factors, we give them more back than they have paid or had withheld. The next group have worked and had withholding or […]

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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