How To Choose A Tax Return Preparer
- February 24th, 2023
- David Greene
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I have more than a few clients each year who are audited and when I review their returns I can see where the tax preparer made mistakes because he/she did not understand the application of the rules. The IRS has…
More Tax Tips for Grads Entering the Work Force
- July 23rd, 2019
- David Greene
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Last week I listed 5 things to consider. Here are some more. (1) Remember that graduation gifts are not taxable to the recipient, so you do not need to be concerned with taxes on them. (2) If you worked a…
What are the odds of being audited.
- March 5th, 2019
- David Greene
- Comments Off on What are the odds of being audited.
I get similar questions to this quite frequently. Here are some statistics from 2017. Out of 150 million tax filers in 2017, here are some stats based on gross income and other factors: Returns audited (a) for international taxpayers – 1…
How can I plan throughout the year for filing my taxes?
- August 22nd, 2018
- 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?
- August 15th, 2018
- 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?
- August 7th, 2018
- David Greene
- Comments Off on For tax purposes, what changes do I need to make when I get married?
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?
- July 31st, 2018
- 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…
Some business tax tips under the new tax law
- July 11th, 2018
- David Greene
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Many owners of small businesses know how to make or sell their product, but do not know how to keep good books and file and pay all required local, state and federal tax forms. To keep your business out of…
What kind of activities increase the chances of being audited?
- April 24th, 2018
- David Greene
- Comments Off on What kind of activities increase the chances of being audited?
Some tax returns are more likely to be audited than others. Why is this? I can think of eleven practices that lead to a greater risk of audit. First is using a “sketchy” tax preparer. This is one who…
What does the new Tax Reform mean for Pass Through Entities starting in 2018?
- April 11th, 2018
- David Greene
- Comments Off on What does the new Tax Reform mean for Pass Through Entities starting in 2018?
One of the most significant changes under tax reform is the tax treatment of businesses. Unlike changes to the individual tax scheme, which are temporary and somewhat piecemeal, the changes to the business tax scheme are permanent and fairly thorough….