The Internal Revenue Service has advised taxpayers that in many cases they can continue to deduct interest paid on home equity loans. Responding to many questions received from taxpayers and tax professionals (yep, that is us), the IRS said despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity… Read More


My favorite thing as a kid was watching the Olympics (whether it was Summer or Winter); my bothers and sisters and my Dad would gather around our small bulky TV and yelled with joy as the various sports were played out. We’d even bet on the outcome. My brother was a research fanatic and he… Read More


The Internal Revenue Service is expected to refund disabled veterans an estimated $78 million that was wrongly withheld from their disability severance pay. More than 133,000 may qualify for the tax refunds, according to the National Veterans Legal Services Program. In 2016, President Obama signed into law the Combat-Injured Veterans Fairness Act, which directed the… Read More


Amazon, Berkshire Hathaway, and JP Morgan Chase are joining forces to form an independent health-care company for their employees. This alliance of the three business titans, which boast a combined 1 million workers, reflects corporate America’s increasing frustration with  “the state of the nation’s health-care system and the rapidly spiraling cost of medical treatment.” The… Read More


I love to travel and subscribe to many travel magazines and news letters; I even read travel books like a restaurant menu (voraciously)! I thought it would be nice to break up some tax blogs by blogging over a few travel updates. United Airlines changes policy on comfort animals after peacock incident: United Airlines wants… Read More


At Bourke Accounting we are a full service tax and accounting firm. A big part of our business is forming Corporations, LLC’s, Non Profits and over-all helping people figure out which entity is best for their business. With the new “Tax Cuts and Jobs Act” Corporations seem to be the “it” entity of the moment. I… Read More


You might think twice before giving money to you adult child as it could ultimately trigger YOUR financial ruin. The majority of parents with adult kids – 74 percent – continue to help them financially after they reach age 18. More than 80 percent contribute to living costs, such as groceries, health insurance, phone bills,… Read More


The Internal Revenue Service has estimated it may need nearly half a billion dollars more over the next two years…to implement the sweeping tax overhaul. IRS funding has shrunk by 20 percent since 2010, but the agency says it needs additional funds for answering phone calls, creating new tax forms, and training employees on the… Read More


The passage of the new tax bill is a golden opportunity for you to convert your traditional individual retirement account into a ROTH IRA. Why? The bill reduced multiple individual income tax brackets, so if you convert your traditional IRA to a ROTH and immediately pay taxes on those funds, “you will be paying at a… Read More