Bill Zumwalt's (teamzumwalt) Blog

Well now that it is Fall Break in Tulsa my wife, Debbie and 7 of her best friends from her Tuesday night tap dancing class are headed to Dallas. She always likes to help out our country during any economic slowdown. The Outlet Mall is high up on everyone’s shopping agenda as well as Nordstrom’s. ...

Do you need the latest iPhone or tablet?  Maybe a new laptop or printer is going to be needed next year. Why wait? If you need better equipment to run your business and you are having a great year you should buy the equipment before year end. The opposite holds true if you are expecting a better ...

As we discussed recently, you are limited to $25 for gifts. This limit applies to the husband and wife and not to each person. Of course, the gift of entertainment while limited to 50% of the expense, can allow you to provide a proper way of saying thanks. One item that you should think about is ...

There are some more tax savings to be had from the purchase of a large SUV this year. The rules for 2013 are the same as last year. If you buy a new or used SUV or Truck that has a Gross Vehicle Weight Rating of over 6,000 lbs you have special rules that apply to deprecation of that vehicle.(Most...

Well don’t expect any favors. The IRS computers are still diligently working away to send out notices of taxes due, liens to file and wages to garnishee.  If you are trying to contact the IRS about a notice you will have to send it via fax or I would use certified mail with return receipt. Proble...

Tonight’s the night for the Eagles concert!! Debbie and I have been patiently waiting for this for some time now. Seems our youngest daughter won the tickets at her company’s picnic and couldn’t go (boo). So like a good child she passed them on to us (Yeah). We are having dinner at one of the new...

For the last couple of years there has been something called “Bonus Depreciation” For 2013 this amount has been 50%. So for 2014 it looks like this tool will be going away.Here is an example of how bonus depreciation works.Buy a NEW asset such as a large SUV. This SUV costs $45,000 and you buy it...

People lose things all the time. Usually it's no big deal. We misplace our phone, keys, or sunglasses — then they show up an hour or a day later, or we replace them. Sometimes it's more serious. We lose money in a stock or a mutual fund — then we make it back over time. But every so often, someon...

The Texas State Fair is here for the week. But the big meeting will be Saturday when the Texas Longhorns face off with the Oklahoma Sooners. This is a long storied rivalry that is unique in that there is no home field advantage. The game is at the Cotton Bowl with half the seats sold to each scho...

Since April 15th is long ago behind us it must be time to relax for a change and not worry about those pesky quarterly payments or even think about logs. The only logs you’re thinking about are the fireplace log burning at Christmas. Has your tax prep guy been on the same cruise control too?  My ...