Are stimulus checks taxable? What if you don’t receive it?
- David Greene
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If you have not received your check, first be sure you are eligible. Eligibility is based on your earnings as shown on your 2019 return. For a single person, if your Adjusted Gross Income is more than $87,000, you are…
What are the IRA contribution and withdrawal rules for 2020?
- David Greene
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First I want to let everyone know that the 2020 tax return filing deadline has been extended until May 17. The CARES Act changed many rules related to IRAs for 2020. First one can withdraw up to $100,000 without incurring…
Highlights of the relief bill signed by President Trump in December.
- David Greene
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The Consolidated Appropriations Act, 2021 signed by the President on December 27 is a very comprehensive relief law but here are some of the highlights: (1) It provides a $600 stimulus check for eligible individuals, which have already been issued;…
What to know about gifting stock to a charity.
- David Greene
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There are many alternative ways to donate other than money. One I want to discuss today is the gift of stocks. If you have been holding some stocks for a good while they have probably increased in value with substantial…
Is cryptocurrency taxable? How is it taxed?
- David Greene
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Cryptocurrency is a new medium of exchange that is rapidly growing in popularity. Before investing in any one of the types of cryptocurrency (bitcoin being the most popular) you should realize that it is not backed by or protected by…
Can a taxpayer submit more than one Offer in Compromise?
- David Greene
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Yes, one can certainly file a second Offer after a rejection, especially when there is a change in your circumstances. However, we should look at another possibility first. When an Offer is rejected, you have 30 days from the date of…
Can one ever settle with the IRS for less that he owes?
- David Greene
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I get this question is some form at least once a week. I have not answered it in awhile, so here is my answer. The beginning of the new year is a good time to answer this. Many times the…
HAVE YOU MADE YOUR NEW YEAR RESOLUTIONS?
- David Greene
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Well, Christmas is over and we have rung in the New Year. During this past week many people made New Year resolutions. Did you make any? Most of these deal with either working on a healthier and better body or…
New Year Thoughts
- David Greene
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As most of you know, the majority of my practice is dealing with IRS problems and Estate Planning. Today I want to pass along some thoughts about both of those areas. Even as the COVID-19 pandemic rages on, our problems…
Holiday Greetings
- David Greene
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This is the week of Christmas and it comes as no other Christmas week I can remember. There is always joy, laughter and anticipation at Christmas time, but this year it seems muted as we all have been affected in…