Unfortunately, it is not uncommon for a taxpayer to take actions without seeking professional advice, be disappointed with the results, and then seek professional assistance to undo the damage. Often … [Read more...] about Age Discrimination Settlement Lacked Tax Planning
Planning for College Tuition
If you are a parent with young children, it is never too early to begin to save for the high cost of a college education. Here are two popular tax-favored programs you can consider. Keep in mind that … [Read more...] about Planning for College Tuition
Premium Tax Credit Verification Audit
The IRS has begun auditing taxpayers who purchased health insurance coverage through the Health Insurance Marketplace (also known as an exchange) and reported that they were eligible for a premium tax … [Read more...] about Premium Tax Credit Verification Audit
You Need to Update Your Beneficiaries
Unfortunately, it seems that every tax season we learn that a client’s spouse passed away and there was no will. Perhaps the plan was to have this matter done at a later date. Let us assure you … [Read more...] about You Need to Update Your Beneficiaries
Know the Tax Rules If Considering In Vitro Fertilization
In vitro fertilization (IVF) is an expensive medical procedure whereby an egg is fertilized by sperm in a test tube or elsewhere outside the body. An IVF procedure can be tax deductible as a medical … [Read more...] about Know the Tax Rules If Considering In Vitro Fertilization
Business Owner Denied Repair and Maintenance Expenses
It is important to learn from the mistakes of others. Detailed documentation of expenses is absolutely vital to sustain a tax deduction. In a recent Tax Court case (Charles F. Schuetze, TC Memo … [Read more...] about Business Owner Denied Repair and Maintenance Expenses
