Mar 10, 2017 | Business Tax Planning, IRS, Personal, Tax Compliance, Tax Credits, Tax Planning, Tax Proposals, Taxable Income
Tax season 2017 is in full swing. Statistics issued by the IRS showed a 17.2% decline in the total number of returns received through February 10, 2017 compared to the same period last year. The decline was most likely caused by the mandate on refunds on returns...Aug 25, 2016 | Accounting, IRS, Tax Compliance, Tax Credits, Tax Planning, Taxable Income
I was blessed with my first two grand babies this summer! (Stone Alexander and Grace Jenna) While Grammie won’t realize any tax benefits from the birth of these two babies, their parents will become eligible for a whole new set of tax breaks. Dependents Claiming your...Jul 6, 2016 | Budgeting, Business Tax Planning, IRS, Tax Compliance, Tax Planning, Taxable Income
Summer is here, 2016 is half over, and it’s a great time to organize your taxes. It seems most of my clients wait until January to look for their records, organize their charitable donations, and review investment accounts. While it may not be fun to spend a...Feb 6, 2015 | Taxable Income
Question: Are stipends taxable income for Federal income tax purposes? The taxpayer has been serving as a host family for a foreign exchange student and has received monthly payments during 2014. Should this income be taxable to the host family?... 
Nov 6, 2013 | Taxable Income
In general, rental activities are considered to be passive activities, which means losses incurred in rental activities are not deductible against active or portfolio income. There are two exceptions to this general rule. Real Estate Professionals Real estate...