For tax purposes, what changes do I need to make when I get married?
- August 24th, 2023
- 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…
Is there a federal student tax?
- August 14th, 2023
- David Greene
- Comments Off on Is there a federal student tax?
Many people ask that question. There is no federal student tax. This is one of the scams used by IRS impersonators. They usually threaten criminal prosecution if the student does not immediately wire funds or provide a credit card to…
When can one deduct unreimbursed employee expenses?
- August 10th, 2023
- David Greene
- Comments Off on When can one deduct unreimbursed employee expenses?
Prior to 2017, if a W-2 employee had business expenses related to his employment that his employer did not reimburse, he could take a deduction for those expenses. However, the Tax Cuts and Jobs Act of 2017 eliminated those deductions…
When is a settlement or court award taxable?
- August 7th, 2023
- David Greene
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When someone is physically injured and gets a money award from settlemenet or trial, that money is not taxable. The key words here are “physical injury.” Emotional distress alone is not cosidered a physical injury and, of course, discrimination is…
Can the payroll clerk be charged for the Trust Fund Penalty?
- August 2nd, 2023
- David Greene
- Comments Off on Can the payroll clerk be charged for the Trust Fund Penalty?
Yes, the IRS can pursue a payroll clerk as a “Responsible Party” for the Trust Fund penalty. I am quite sure that the owners and/or managers of the company would also be contacted and found to be responsible. They probably…
Can tax payments be paid electronically?
- July 17th, 2023
- David Greene
- Comments Off on Can tax payments be paid electronically?
Yes they can. I would like to state first though, that one should always use certified mail or Priority Mail with tracking to send anything to the IRS. That way you get the green card back, which is proof that…
Can the IRS make me adjust my withholding amount on my paycheck?
- July 11th, 2023
- David Greene
- Comments Off on Can the IRS make me adjust my withholding amount on my paycheck?
Yes, they can but sometimes you should voluntarily make that adjustment yourself. It is a common issue among our clients that they do not have enough taxes withheld from their paycheck. When you work as an employee, you fill out…
Here are some tips to coinsidser when filing an amended tax return.
- July 7th, 2023
- David Greene
- Comments Off on Here are some tips to coinsidser when filing an amended tax return.
Keep these tips in mind: (1) use the right form – Form 1040X; (2) since you are amending, also check for unused deductions or credits and be sure you have the correct filing status and number of dependents; (3) if…
What are some tax advantages for school?
- June 30th, 2023
- David Greene
- Comments Off on What are some tax advantages for school?
Here are some school related tax tips. (1) Although private school tuition is not deductible, the child care component of the tuition is deductible for kids under 13. (2) Also for kids under 13, before and after school care may…
When is the best time to file an Offer in Compromise?
- June 22nd, 2023
- David Greene
- Comments Off on When is the best time to file an Offer in Compromise?
In general, i.e. in terms of “now” as opposed to several years ago, this is a good time to deal with the IRS. They have generally been more willing to compromise and make better deals for the taxpayers than in…