Sometimes things happen that result in income to you, but you don’t know if you have to pay taxes on it in some instances. Do I need to report it on my tax return or not? Here are a few of those items and how they should be treated for taxes.
This time of year, I get calls from potential clients looking for somebody to prepare their tax returns. I really love this time of year because I love getting new clients. However, I know that it doesn’t do any good to bring in a lot of new clients if we are not right for each other. So I do my best to tell them about myself and answer Read more
Summer is a great time to contemplate anything but your tax situation. However, this year there are two new taxes that could be significant to you that you should consider now. Both new taxes are related to Medicare funding and higher income taxpayers. Also, both new taxes hinge on how high your modified adjusted gross Read more
I have been called out more than one time by clients when I start talking about AMT. Most people do not know what AMT is. In my opinion, that’s how it should be. However, this year you might be forced to become acquainted with AMT, so you should understand what it is and how Read more
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