Cerritos, CA
Tax Lawyer at Cerritos, CA
Practice Areas: Tax, Corporate & Incorporation ... +2 more
You can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040 or Form 1040NR). You can claim the amount of expenses that is more than 2% of your adjusted gross income. Y...
See Full GuideBecause the Ponzi scheme perpetrated by Bernard Madoff involved potentially thousands of taxpayers, the IRS has issued guidance on the tax aspects of losses from a Ponzi scheme and created a safe harbo...
See Full GuideThere is nothing special that protects a tax refund from being seized by a creditor in most states. Usually, only government creditors such as child support enforcement authorities,student loans, the S...
See Full GuidePost-1984 and pre-2009 divorce decree or separation agreement. If the divorce decree or separation agreement went into effect after 1984 and before 2009, the noncustodial parent may be able to attach c...
See Full GuideThe Working Families Tax Relief Act of 2004 set a uniform definition of a qualifying child, beginning for Tax Year 2005. This standard definition applies to all five of the tax benefits noted above, wi...
See Full Guide1. Extended Bonus Depreciation allows businesses to write off 50% of new depreciable property with a life of at least 20 years if purchased and placed in service in 2010. 2. Increased deduction for IRC...
See Full GuideIRS Audit Procedure Once a federal tax return is selected for audit, the examination is performed by an IRS examiner. At the conclusion of the examination, the taxpayer is sent a report of the examiner...
See Full GuideBefore you file your 2010 tax return, you should make sure you have all the needed documents including all your Forms W-2. You should receive a Form W-2, Wage and Tax Statement, from each of your emplo...
See Full GuideThe rules below apply to both federal andCalifornia income tax returns. If all the following 8 conditions are met, the income taxfor a year isdischargeable. 1. 3+ YEARS AFTER TAX RETURN IS DUE. The b...
See Full Guide1. Prepetition interest is dischargeable if the underlying tax is dischargeable in both Chapter 7 and Chapter 13 cases. The Chapter 13 plan must provide for full payment of the prepetition interest if ...
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