Henry Daniel Lively’s Guides

Henry Daniel Lively

Costa Mesa Tax Lawyer.

Contributor Level 20
  1. Determining Stock Basis

    Written by attorney Henry Lively, over 2 years ago.

    It is simple to determine the basis of your stock if you buy all of a certain stock in one purchase and then sell it in a single sale.Many times this actually happens.But, there are times when multiple stocks are purchased in various blocks and then sold in multiple sales, and ...

    30 people found this Legal Guide helpful

  2. Social Security Benefit Statements

    Written by attorney Henry Lively, over 2 years ago.

    To reduce costs for the Social Security Administration, the Social Security Administration (SSA) has announced plans that it will no longer mail annual benefit statements that provide a chronology of an individuals earning history and an estimate of the amount of monthly retir...

    23 people found this Legal Guide helpful

  3. 1099 Filings for Businesses in 2011

    Written by attorney Henry Lively, over 2 years ago.

    New for 2011, business returns for individuals, including Schedule C and Schedule E, Corporations, and Partnerships, will ask whether all required 1099 forms have been, or will be, filed by the business. Taxpayers should be cautioned and reminded that it is important to file ...

    31 people found this Legal Guide helpful

  4. Are eFiled Returns Now a Requirement?

    Written by attorney Henry Lively, over 2 years ago.

    eFiling of tax returns is now mandatory unless the client opts out per IRS regulations. No form will be provided by the Internal Revenue Service to opt out of efiling.Instead, if a taxpayer decides that they do not want to efile and desires to opt out they must make a statemen...

    27 people found this Legal Guide helpful

  5. Non-Employee Compensation Paid to Nonresident Aliens

    Written by attorney Henry Lively, over 2 years ago.

    If you make payments of non-employee compensation to nonresident aliens you will need to withhold Federal Tax using the following rules: U.S. source nonemployee compensation for any amount in excess of zero is reportable on Form 1042-S. Withhold at 30% or lesser tax treaty r...

    23 people found this Legal Guide helpful

  6. Tax Savings Still Available for 2011

    Written by attorney Henry Lively, over 2 years ago.

    If you find that you owe more in taxes than you wanted at the end of 2011, there is still time to make certain moves to lower your tax bill. Follow these simple savings below and reap the savings.

    22 people found this Legal Guide helpful

  7. Understanding the Mortgage Forgiveness Debt Relief Act of 2007

    Written by attorney Henry Lively, over 2 years ago.

    The Mortgage Forgiveness Debt Relief Act of 2007 is still very much in play and is an effective tool for those faced with cancellation of debt income on their home mortgage until December 31, 2012. The Act was put into place to assist homeowners that faced a mortgage modification...

    31 people found this Legal Guide helpful

  8. Pension Plan Contribution Limitations for 2011

    Written by attorney Henry Lively, over 2 years ago.

    As we approach the filing requirements for our 2011 tax returns, it is a good time to take a look at the 2011 pension plan contribution limitations to make sure we are taking full advantage of the tax benefits available here. Take a look at the contribtuion limits below and consi...

    22 people found this Legal Guide helpful

  9. New 1099 Rules for 2012

    Written by attorney Henry Lively, over 2 years ago.

    With the New Year comes new rules for Forms 1099 that are effective January 1, 2012. This will certainly increase the volume of paperwork required for most businseses with regard to Form 1099. Under the previous rules businesses were only required to submit 1099 forms for payment...

    24 people found this Legal Guide helpful

  10. Exclusion of Disability Income for Police Officer

    Written by attorney Henry Lively, over 2 years ago.

    IRC Section 104 provides that compensation for injuries and sickness are not taxable and are excluded from income.InBakken v. Commissioner, TCS 2011-55, the court concluded that the disability income of a police officer who was injured in the line of duty and became permanently...

    22 people found this Legal Guide helpful