Newport Beach, CA
Tax Lawyer at Newport Beach, CA
Practice Areas: Tax, Estate Planning
If you are a casual gambler, the winnings that you earn are taxable under section 61 of the Internal Revenue Code. You file and include your gambling winnings on Form 1040. Gambling income includes, bu...
See Full GuideTo qualify for the Child Tax Credit you must first have a qualifying child. What does this mean? According to the IRS Guidelines: A qualifying child for purposes of the child tax credit is a child who:...
See Full GuideMost individuals with Assets that would cause their estate to be probated or subject to eatate tax should consider estate planning. Estate planning is the process of preparing documents to arrange for ...
See Full GuideSince 2003, the dividends you receive can qualify for the low income tax rates that long-term capital gains receive. This currently carries a maximum tax rate of 15 percent and is favorable to the ordi...
See Full GuideMarried Couples often ask whether they should file a Married Filing Separately income tax return or a Married Filing Jointly income tax return. There are a lot of variables that must be considered when...
See Full GuideTax Implications of Short Selling Real Property Short Sales of Real Estate When you sell real property in a Short Sale Transaction there are numerous tax implications that you will want to consider....
See Full GuideI often get asked the question "How often and when should I review my estate plan?" My response to this question is that you should at a minimum review your trust each year. A good time to do this is r...
See Full GuideMany individuals that volunteer for charitable service do not realize that they can deduct the mileage they incur as a volunteer on Schedule A of their form 1040 as mileage for charitable purposes. How...
See Full GuideIf you go through an Internal Revenue Service Examination (Audit) and do not agree with the results and cannot resolve the case with the auditor or their supervisor, you can take the case to the next l...
See Full GuideInnocent spouse relief is often an option when spouses file a joint income tax return together and one spouse has no idea of an erroneous position that the other spouse has taken on the tax return, nor...
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