October 2019 Individual Due Dates
October 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you...
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Sep 20, 20193 min read
Tax Issues Related to Hobbies
Article Highlights: Hobby Losses Not-for-Profit Rules Determining Factors Trade or Business Presumption Hobby Tax Reporting...
Sep 20, 20194 min read
Employee Stock Options Can be Taxing
f you are an employee of a corporation, as an incentive to continue employment, the company may offer you the option to purchase shares of t
Sep 13, 20194 min read
Who Claims the Children You or Your Ex-Spouse?
If you are a divorced or separated parent with children, a commonly encountered but often misunderstood issue is who claims the child or chi
Sep 6, 20198 min read
Life Changing Events Can Impact Your Taxes
Throughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes.
Aug 30, 20194 min read
What Are the Tax Advantages of Homeownership?
Article Highlights: Purchase Costs Points Mortgage Payments Property Taxes Inflation Gain Exclusion Renting Versus Owning Housing is a...
Aug 23, 20192 min read
Watch Out for Those Fake IRS Letters
Article Highlights: Matching Season IRS Letters Fake Letters Demand for Immediate Payment Every year, the vast majority of taxpayers file...
Aug 23, 20195 min read
Earn Tax-Free Income from Working Abroad
qualifying U.S. citizens and resident aliens who live and work abroad may be able to exclude from their income all or part of their foreign
Aug 23, 20193 min read
September 2019 Individual Due Dates
September 1 - 2019 Fall and 2020 Tax Planning Contact this office to schedule a consultation. September 10 - Report Tips to Employer If...
Aug 16, 20193 min read
Is It Time for a Payroll Tax Checkup?
Was your 2018 federal tax refund less than normal, or – worse yet – did you actually owe tax despite usually getting a refund?
Aug 16, 20194 min read
The IRS Has Cryptocurrency on Its Radar
One of the big issues of cryptocurrency is how it is treated for tax purposes. The IRS says that it is property, so that every time it is tr
Aug 9, 20192 min read
How to Write Off Worthless Stock
Gains and losses for securities, including stocks are not recognized for tax purposes until the securities are sold or become worthless.
Aug 9, 20194 min read
Tax Ramifications of Disposing of a Vehicle
If you are buying a new car, are you wondering what to do with the old one? Be mindful of the tax implications.
Aug 2, 20192 min read
Foreign Account Reporting Requirements (FBAR)
U.S. citizens and residents with a financial interest in authority over any foreign financial account may need to report.
Aug 2, 20196 min read
The IRS Is Cracking Down on Cryptocurrency Tax Transactions
The IRS announced in late July 2019 that it is ramping up its campaign to ensure that taxpayers with cryptocurrency transactions report them
Jul 27, 20192 min read
Minimizing Tax on Social Security Benefits
Article Highlights: Income as a Factor Filing Status as a Factor 85% Maximum Taxable Base Amounts Deferring Income Maximizing IRA...
Jul 27, 20193 min read
The Best Ways to Maximize Your Savings for Retirement
According to one recent study, the vast majority of Americans who are between the ages of 55 and 64 say that they have only saved, on...
Jul 27, 20191 min read
August 2019 Individual Due Dates
August 12 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during July, you are...
Jul 19, 20194 min read
What You Need to Know about Student Loan Interest
Article Highlights: Home Equity Loan Home Equity Interest Deduction Alternative Minimum Tax Above-the-Line Interest Deduction Qualified...
Jun 26, 20193 min read
Does Your Tax ID Number Need to be Renewed?
ITINs are used by people who have tax filing or payment obligations under U.S. law but who are not eligible for a Social Security number. IT
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