Henry Daniel Lively’s Guides

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This guide summarizes what you will need to do to prepare a case for the United States Tax Court.

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You are not happy with the results of your audit and would like to take the next step and request an Appeal with the IRS. This guide discusses how you should prepare for your meeting with the Appeals officer.

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A great way to avoid the Kiddie tax when gifting money to a child is through the use of a Section 529 plan. It will also turn taxable income into tax-free income while allowing you to maintain control of the funds until the child begins post - secondary education. With a 529 plan...

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In California, any business that pays an independent contractor is required to report the existence of a contract by completing EDD Form DE 542, "Report of Independent Contractors", either when a contract is established or when $600 is paid or is expected to be paid to the worker...

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If you are a California resident you may know by now that California does not fully comply with the Federal Government's law with respect to the Mortgage Forgiveness Debt Relief Act of 2007. Under Federal Law up to $2 Million of cancelled debt from Qualified Mortgage Indebtedness...

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The California Franchise Tax Board will need to release its lien against a property that it has liened for taxes in order for a short sale to go through and close escrow. This is because there are typically not enough proceeds in the sale transaction to pay off the lien. This bec...

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The Internal Revenue Service announced that they will grant extra time to taxpayers that have rental property to make a "Single Activity Election" as provided in the Revenue Procedures. These taxpayers are allowed to make an election to treat their rental properties as a single a...

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Pursuant to the Internal Revenue Code Regulations the limitations for Health Savings Accounts on an annual basis are adjusted for inflation.The HSA Inflation-Adjusted Limitations for 2012 are as follows: FamilySelf-Only Contribution Limit $6,250$3,100 Additional Catc...

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The Savers Credit is provided by Internal Revenue Code Section 258, and provides a nonrefundable tax credit for contributions made by an eligible taxpayer to a qualified plan.The credit offsets both regular tax and Alternative Minimum Tax.It is also in addition to any applicab...

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