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About Davie Barsalou

Davie is a Texas-certified lawyer. He holds a Bachelor of Arts degree in economics from the University of Texas, and a Doctor of Jurisprudence (a law degree) from South Texas College of Law. Most of us aren’t sure why, but Davie thinks tax laws are really cool.

What Are Qualified Plans? Here’s How You Qualify

(Publication 560) When it comes to saving for retirement, “qualified plans” are the gold standard. They come with powerful tax advantages, but also specific rules set by the IRS. Understanding what makes a plan “qualified” — and how your business or self-employment activity can take advantage of one — can make a real difference in [...]

What Is a SIMPLE Plan? It’s Not as Simple as the Name Implies (Publication 560)

When it comes to retirement plans for small businesses, the SIMPLE IRA (Savings Incentive Match Plan for Employees) seems like it should be straightforward—after all, it’s in the name. But as the IRS explains in Publication 560, “simple” doesn’t always mean easy. Let’s break down what a SIMPLE plan really is, who it’s for, and [...]

What Is a Simplified Employee Pension (SEP)?

(IRS Publication 560 Explained) If you’ve ever seen “SEP” on your W-2 and wondered what it meant, you’re not alone. A Simplified Employee Pension (SEP) is a powerful retirement savings plan designed for small business owners, self-employed individuals, and their employees. It’s governed by IRS Publication 560, which lays out the rules for SEP, SIMPLE, [...]

How to Call the IRS: No One Wants to Do This, But You Got This

Let’s be honest — calling the IRS isn’t anyone’s idea of a good time. Long hold times, confusing menus, and the dreaded possibility of being transferred only to wait again can make even the most patient taxpayer want to give up. But sometimes, picking up the phone is the only way to get your issue [...]

How to Set Up an Installment Agreement with the IRS

Don’t Ignore It—Because It Only Gets Worse Owing taxes can feel like an avalanche you can’t stop. You miss a filing deadline or underpay one year, and suddenly, you’re facing letters from the IRS, interest piling up, and penalties stacking higher than the tax bill itself. But here’s the truth: the IRS actually wants to [...]

How to Pay Your Back Taxes: You Haven’t Filed, Now You Need To

So you’ve been putting it off — maybe for a year, maybe for several. Life got busy, things got messy, and filing your taxes fell somewhere between “I’ll get to it” and “I don’t even want to think about it.” But now the IRS is calling, those unfiled years are catching up, and it’s time [...]

Death and Taxes: The Year You Die, a Return Is Due in Your Name

Interesting fact – you’ll never see your last tax return (Publication 559) Few things in life are certain, but two of them are: death and taxes. What most people don’t realize is that the IRS expects one final tax return when you pass away — and that return is filed on your behalf by someone [...]

I Just Inherited Substantial Property—What’s Its Tax Basis?

(Publication 551) – It’s a Good Business, This Inheriting Thing When you inherit property—be it real estate, stocks, or other valuable assets—you’re not just stepping into ownership. You’re also stepping into a new tax situation that can have serious consequences when it’s time to sell. Understanding your tax basis is key to avoiding surprise capital [...]

Let’s Talk About Tax Basis of Your Investments (Publication 551)

When it comes to your investments, knowing your tax basis isn’t just smart — it’s effing based. Understanding the concept of basis under IRS Publication 551 can make the difference between paying what you owe and overpaying Uncle Sam. So let’s break it down in plain English. 🧱 What Is “Basis,” Anyway? Your basis is [...]

Your Tax Guide to Installment Sales (Publication 527) – Don’t Know What These Are? Don’t Worry, You Will.

Selling property can be one of the biggest financial events of your life—especially when the tax bill arrives. But what if there were a way to spread out your taxable gain (and the tax burden) over several years instead of all at once? That’s where the installment sale method, explained in IRS Publication 527, comes [...]

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