Does a divorced person still owe the taxes generated in a previous marriage?
- David Greene
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I have been asked this question many times before. The general answer is that he owes all of the taxes because he signed the return. For a joint return the signers are jointly and severally liable for the tax. This means…
What are my rights as a taxpayer?
- David Greene
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The Taxpayer Bill of Rights (TBOR) outlines the 10 fundamental rights taxpayers have when working with the Internal Revenue Service. The IRS wants every taxpayer to be aware of these rights in the event they need to work with the…
How can I plan throughout the year for filing my taxes?
- David Greene
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Though April 15, 2019 seems far away, there are things you can be doing today to help ensure your tax return is prepared quickly and correctly. Here are three things taxpayers should know about the tax returns they will file…
Do I have to file a return if I only work a summer job?
- David Greene
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As summer is coming to an end, many taxpayers are getting back to school. If you are a student that worked a summer job, you may think you do not have to file a tax return for 2018. When determining…
For tax purposes, what changes do I need to make when I get married?
- David Greene
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For many, getting married creates many new beginnings and opportunities. At the same time it can also be a catalyst that can create many changes in a couple’s life. Some of these changes may and will affect how you look…
What is the Work Opportunity Tax Credit?
- David Greene
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The WOTC is a tax credit that allows employers who hire members of targeted groups who face employment barriers to claim a credit against income tax of a percentage of first-year wages. This credit has recently been expanded by the…
When can one discharge delinquent taxes in bankruptcy?
- David Greene
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The current bankruptcy law is very restrictive and is a “needs-based” law. Some taxes will be dischargeable and some will not. Because it is a “needs-based” law fewer consumers will be able to use Chapter 7 bankruptcy as a quick…
When can a business deduct gifts to Charities?
- David Greene
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Gifts to charities by a business are not alweays deductible, but in some cases they are. The IRS Chief Counsel recently issued an Advisory Ruling in which he said that when a business conducts a promotion where it advertises that…
What is the proper way to substantiate unreimbursed business mileage expenses?
- David Greene
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If you drive your vehicle for work, but your employer does not reimburse you for this expense, you may deduct this as an unreimbursed business expense. You will report this deduction on Schedule A. However, for the IRS to accept…
What is the best way to prepare for a cash business audit?
- David Greene
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When a tax examiner audits a cash intensive business, she looks at several factors to see if all income is being reported. According to the IRS, the primary indicators of unreported income are: (1) a lifestyle that cannot be supported…