What is the Big Deal with Adjusted Gross Income?
Aug 05, 2010
Adjusted Gross income is discussed quite a bit in tax law. So what is the big deal with Adjusted Gross Income or AGI? First, we need to define AGI. AGI is your income from all taxable sources minus c...
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What Should you do if you become the Target of an IRS Criminal Tax Investigation?
Aug 05, 2010
The first knowledge that you have that you are the target of an IRS Criminal Tax Investigation is that you are visited by Special Agents from the Criminal Investigation Division of the Internal Revenue...
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What and When is Tax Freedom Day in 2010?
Aug 02, 2010
Tax Freedom day is the day in the year that if you worked from January 1 until this day, and you paid 100 percent of your income to the government, your taxes for federal, state, and local taxes would ...
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Many People are Not Aware that Health Care Legislation Contained Many Tax Provisions
Aug 01, 2010
Perhaps you are not aware, but the recent health care legislation contained many new tax provisions that we need to be made aware. They include:
An increase to the Medicare payroll tax.
A new excise...
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First -Time Homebuyer Credit Fraud May Lead to Changes in the Law
Aug 01, 2010
The Treasury Inspector General has released a report that details numerous areas of fraud with regard to the First-Time Homebuyer Credit. The Inspector identified at least 14,000 taxpayers that receiv...
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Do Your Kids have to File a Tax Return for Summer Employment?
Aug 01, 2010
An often asked question is "Do my kids have to file a tax return for their summer job?" It depends.If your child is now working at a summer job or will be working at a summer job this year, they may be...
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Roth Conversions Under the New Rules
Aug 01, 2010
The new Roth conversion rules allow high income taxpayers to make Roth conversions where they previously could not.For the first time since the Roth IRA' were introduced, high-income taxpayers are elig...
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If you work after Retirement your Taxes can be Affected
Aug 01, 2010
Did you know that working after retirement can affect the taxes that you pay?Retirees will often work after they retire from their principal occupation. However, if they are not aware they can be supri...
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Homebuyer Tax Credit is Extended
Aug 01, 2010
Good news, the Homebuyer tax credit has been extended.If you signed a contract before May 1 to buy a home, but have been unable to close the deal, you still have time to apply for the homebuyer tax cre...
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Tax Requirements for LLCs in California
Jul 26, 2010
Once you form a Limited Liability Company in California you begin to have certain tax responsibilities. Even if you have no income for the year, you still must pay a minimum tax of $800 each year and t...
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