Here are the Dirty Dozen tax scams for 2018 according to the IRS.
- David Greene
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The Dirty Dozen: (1) Telephone scams threatening to have you arrested if you don’t pay immediately. The IRS will never call you asking for money. (2) Phony emails asking you to go to a website and give personal information. The…
How important is it to have a durable Power of Attorney?
- David Greene
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It is very important! A durable Power of Attorney (POA) is simply legal authorization for someone else to act on one’s behalf. This usually only occurs if the grantor of the POA is incapacitated, but it can be useful in many…
What kind of activities increase the chances of being audited?
- David Greene
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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…
Today Is Tax Return Due Day 2018.
- David Greene
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Since tax returns are due today, I know that many of my readers are very stressed. Therefore, I thought that today I would share a little comic relief. Hope you enjoy. (1) A man made a Freedom of Information request to…
What does the new Tax Reform mean for Pass Through Entities starting in 2018?
- David Greene
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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….
Is there any one group of people who tend to get in trouble with the IRS more than others?
- David Greene
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I can’t say that there is any one group that tends to get in trouble more than any other, but there is one type of taxpayer who tends to get in trouble frequently. Self employed people tend to find themselves in…
Is the rumor that most refunds may be delayed for months this year true?
- David Greene
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This is one of several myths about refunds that seem to be circulating this year. It is indeed a myth. In truth, most refunds are sent out within 21 days of filing the return. To get your refunds faster, be…
Do I need to report the sale of stock on my tax return?
- David Greene
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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?
- David Greene
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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?
- David Greene
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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…