Philadelphia, PA
Probate Lawyer at Philadelphia, PA
Practice Areas: Probate, Estate Planning, Tax
Most Gifts Are Not Taxable; For Example, Gifts To A Spouse, Charity, or Annual Exclusion Gifts Most gifts are not subject to the gift tax. For example, there is usually no tax if you make a gift to y...
See Full GuideCharitable Contributions Must Be Reported on Schedule A of Form 1040 To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A. Gift Must Be To a Qualified Org...
See Full GuideInvestment Income Children with investment income may have part or all of this income taxed at their parents’ tax rate rather than at the child’s rate. Investment income includes interest, dividends,...
See Full GuideQualification Tests for Home Office Generally, in order to claim a business deduction for your home, you must use part of your home exclusively and regularly: • as your principal place of business,...
See Full GuideExpenses That Qualify For An Itemized Deduction Include: •Business travel away from home •Business use of car •Business meals and entertainment, subject to a 50% limitation •Travel •Use of yo...
See Full GuideThe Affordable Care Act increased the amount of the credit and made it refundable, which means it can increase the amount of your refund....
See Full GuideThe PA Department of State Corporation Bureau requires Decennial Filings every ten years in years ending in the numeral "1" (as in 2011, 2021, 2031, etc.) to identify business names or marks that are n...
See Full GuideEnter Health Insurance Paid on Form 1040, Line 29 and on Schedule SE Line 3 As in the past, eligible taxpayers claim this deduction for health insurance on Form 1040 Line 29. But in 2010, eligible ta...
See Full GuideAdjusted Gross Income Limitation For 2010, you may deduct only the amount by which your total medical care expenses for the year exceed 7.5 percent of your adjusted gross income. You do this calculat...
See Full GuideWhat is Self-Employment Income and Is It Subject to Income Tax? Self-employment can include work in addition to your regular full-time business activities, such as part-time work you do at home or in...
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