Tax Laws
News
Best And Worst States For The New Tax Law
A Closer Look at the New Tax Law's Effects
The Tax Cuts and Jobs Act (TCJA) promised an income tax cut for most Americans. Is that promis...
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Guide
You Owe Taxes, But Can't Pay The Bill
Instead of enjoying a tax refund this year, you are surprised to find that you owe Uncle Sam. Even worse, you do not have the money to pay t...
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Q&A
Asked by Tstepsr67
Answered by Jeffrey Schneider, Tax Professional
An in-law can be a dependent like any other
relative. They would be called a qualified
relative. The main criteria is that you
provide more than half their support and...
Q&A
Asked by bgggirl
Answered by Michael Karu, CPA/CFF/CGMA in Livingston, NJ
The short answer is no. However, if you
receive interest on the proceeds, the interest
is taxable.
Guide
The Punishing Costs of Paying Your Taxes Late
Examples of really bad ideas: Forgetting your spouse’s birthday or your anniversary, do-it-yourself brain surgery, and forgetting to file yo...
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Q&A
Asked by an anonymous user
Answered by Michael Karu, CPA/CFF/CGMA in Livingston, NJ
When we prepare tax returns for couples, we
routinely check to determine whether married
filing jointly or separately is more
beneficial. The process is to calculate ...
Guide
Tax Crime And Punishment (Infographic)
You've heard of CSI, but what about IRS CI? That's not a new TV crime show, but the real-life Internal Revenue Service Criminal Investigatio...
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Q&A
Asked by vickicastro75
Answered by David Meyers, Financial Adviser in Palo Alto, CA
The IRS will not directly take your state
refund - your state won't send the money to
the IRS. The state will send you a check (or
make a direct deposit). The IRS wi...
Q&A
Asked by patriciapotpie
Answered by Steffanie Staples, Insurance Agent in South Jordan, UT
Expense amounts greater than 7.5% of AGI
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