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Keeping proper records to support contributions claimed as a tax deduction can be tricky.  If you claim cash contributions, you must have a receipt from the charitable group to whom you gave the contribution.  Also, the gift must be to a recognized (Section 501 (c))

Definitely not!  A trust is not a “one size fits all.”  To be sure that your trust accomplishes what you want and is not susceptible to attack by the State, Federal government or potential

Unfortunately, many Offers are rejected at first. However, there is hope.  When an Offer is rejected, the taxpayer has thirty (30) days to file an appeal from the denial of the Offer.  With this appeal, he can submit new information to support his case.  The appeal will be reviewed

 

You must use Form 1040 if (a) your income is over $100,000, (b) you claim itemized deductions, (c) have self employment income or (d) have income from the sale of property.

 

Here are a few tax breaks for the homeowner.  First, the mortgage interest you pay is deductible and is reported by your lender on Form 1098, which must be filed with your return.  In the early years of a loan this can be very significant, since most of the payment is

That sounds like a good plan; however, it will not work.  In the first place, at this time one cannot file an Offer on 2012 taxes because they are not due until April 15, 2013.  In order to make an Offer, one will have to file the 2012 taxes whether or not they are paid when filed,

Yes, the IRS will require that you include a personal injury settlement or any kind of law suit judgment as an asset and pay that to the government to retire the taxes.  Thus an Offer in Compromise must be increased by the amount of the settlement.  Our exemption statute

The IRS can send one’s employer a Notice of Levy to withhold a portion of his paycheck.  The employer will then withhold up to 60% of the paycheck depending on where the employee falls on a chart.  Also, the IRS can freeze one’s bank account and seize funds in the account to pay

 

I will mention two myths about investments.  First, is the myth of holding on to investments due to fear of capital gains tax.  You should never hold an investment that has

Instead of dwelling on delinquent taxes and other legal problems today, I would like my readers to dwell on things we all can be thankful for in the Spirit of the Season. Like most folks, I do not enjoy paying taxes when I could be spending the money on my family. However, I realize that my tax