Archived
A creditor has put a hold on my tax refund in the amount of $2225.00 Can I use a wild card or special purpose protection?
Terrence's answer
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Answered on March 14, 2015
Yes. A creditor's hold does not preempt the Bankruptcy Code. Once you file the Petition and claim the wild card exemption it will break the...
Archived
My tax return was offset to satisfy an unemployment overpayment. Can I file a amendment return if I filed bankruptcy to recover?
Terrence's answer
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Answered on February 15, 2015
Very unlikely. To discharge the tax owed the tax return has to have been due for more than 3 years. Plus, no offset would be available nevertheless.
Archived
Do I need to pay state taxes for CA ?
Terrence's answer
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Answered on February 15, 2015
The general answer is yes, unless you are here for a short time. You didn't say how long you were here. The rule is if you are temporary you...
Archived
Tax accountant filled my tax wrong and i am charged penalties to pay IRS.
Can i sue tax accountant who made mistake
Terrence's answer
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Answered on February 15, 2015
My office sues accountants who do this type of tax returns. But the question is how much is it worth. We can recover the penalties and the...
Archived
Does the EDD Auditor has the power to request the following information about tax return?
Terrence's answer
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Answered on February 15, 2015
Your point is well taken. If the EDD is reviewing the payroll records it should be limited to the payroll information. Resist given over any...
Archived
Are paid vacations and sick days required by law for full time employees
Terrence's answer
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Answered on June 29, 2014
Not in California. These are benefit that one given by the employer are entitlements to the employee. New York all might be a bit different.
Archived
Can a homeowner claim your utility bills on there taxes?
Terrence's answer
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Answered on June 29, 2014
I am providing an answer for the question posed in the heading. Taxpayer can not generally deduct utility expenses on their home unless your home...
Archived
My father's estate closed and I've just received my final inheritance. What amount do I have to report to the IRS on my taxes?
Terrence's answer
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Answered on June 29, 2014
Good news. There is generally no income tax on inheritance
Archived
What is the estimated tax I will have to pay, if my business makes about $36,000 for the year?
Terrence's answer
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Answered on June 29, 2014
It is a little hard to tell but the rule of thumb that has always worked for my clients is to withhold 20% from the gross check received. Then...
Archived
Do unemployed green card holders have to file taxes even if they have no income at all
Terrence's answer
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Answered on February 09, 2014
No. The tax earnings thresholds for 2013 are: if you are single and earned less than $10,000. Married filing Jointly is $20,000.
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