Newport Beach, CA
Tax Lawyer at Newport Beach, CA
Practice Areas: Tax, Estate Planning
Many airline personnel do not realize that they can reap substantial benefits from using published per diem rates instead of the expenses that are allowed by their airline. When you are preparing your ...
See Full GuideIf you decided to convert to a Roth IRA this year, what are the tax consequences? As you may know, when you convert to a Roth IRA the amount that you convert is subject to taxation. Why is that true? B...
See Full GuideMany taxpayers do not realize that theft losses are deductible on your tax return. A theft loss is defined by the IRS as follows: A theft is the taking and removing of money or property with the int...
See Full GuideWhen you sell your home you must determine whether you have a gain or loss for income tax purposes. According to the Internal Revenue Service Gain/Loss is computed as follows: To figure the gain or l...
See Full GuideThe income and expenses that you receive from a rental property are reported on Schedule E of your form 1040 if you own the property personaly (Not owned by an entity). The complete address of the pro...
See Full GuideWhen you have a property that is foreclosed on you have two possible tax consequences from the foreclosure. First, there is a gain or loss from the disposition of the property. For income tax purposes ...
See Full GuideOne of the exceptions to inclusion of your cancellation of debt income is the Insolvency Exception. This is in addition to the exclusion provided by the Mortgage Debt Forgiveness Relief Act of 2007. In...
See Full GuidePreviously, a 1099 information return was required when you paid a non-incorporated entity more than $600 in a year. This was changed to include any amounts paid to attorneys. Now under the new law we ...
See Full GuideA question that I often get is "Should I represent myself in my tax audit?" This of course depends on the circumstances, but the answer is usually no. Representing yourself in a tax audit is a lot like...
See Full GuideThere were changes to the Earned Income Credit for 2010 that will affect your tax return when you file it this year. The IRS publishes Publication 596 for the complete deta...
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