Archive for Blog

Do I need to report the sale of stock on my tax return?

  • March 27th, 2018
  • David Greene
  • Comments Off on Do I need to report the sale of stock on my tax return?

The short and simple answer is yes. When you purchase stock or any type of security, you are doing so with the money you have earned after taxes. This type of investment creates a basis in the new asset you…

What type of documents should I be considering for my Estate Plan?

  • March 22nd, 2018
  • David Greene
  • Comments Off on What type of documents should I be considering for my Estate Plan?

When people typically think of estate planning, the first thing that comes to mind is how they can control their assets after death. When considering this, most individuals come in to see us wanting to create some type of will…

How can collecting Social Security lead to an increase in your tax liability?

  • March 15th, 2018
  • David Greene
  • Comments Off on How can collecting Social Security lead to an increase in your tax liability?

One very common problem we see at the office arises when people begin collecting Social Security yet are not fully retired. When you begin collecting Social Security, the government considers you as “retired” and does not expect you to continue…

If one moves can he write in his new address on his existing Durable and Health Care Powers of Attorney?

  • March 6th, 2018
  • David Greene
  • Comments Off on If one moves can he write in his new address on his existing Durable and Health Care Powers of Attorney?

You cannot write on the Durable Power of Attorney.  That will void it.  Similarly, you cannot write on or make any changes to your will by striking through and writing over.  Be sure to let your Attorney-in-Fact know your new…

Is an irrevocable trust better than a revocable trust?

  • February 27th, 2018
  • David Greene
  • Comments Off on Is an irrevocable trust better than a revocable trust?

The answer is that one is better for some and the other is better for some.  It depends on what you want to accomplish with the trust.  Many advantages are common to both, such as: (1) both will avoid probate…

Learn how to protest the assessment of additional payroll taxes.

  • February 23rd, 2018
  • David Greene
  • Comments Off on Learn how to protest the assessment of additional payroll taxes.

We have discussed appeals in the past and one certainly might be able to appeal this notice of additional tax.  We need to know the answer to some questions first, such as: Has the tax actually been assessed or has…

What is the difference in capital and ordinary gains or losses?

  • February 21st, 2018
  • David Greene
  • Comments Off on What is the difference in capital and ordinary gains or losses?

Capital gains or losses result from selling capital assets which generally, but not always, includes the sale of real estate.  Some things that are not capital assets are: business inventory, business receivables, real or other depreciable business property and certain…

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