One Taxpayer’s Identity Theft Saga – Part 2
Part 2 of my series on taxpayer identity theft, using the real-life story of one of my clients.
Part 2 of my series on taxpayer identity theft, using the real-life story of one of my clients.
Identity theft involving tax returns is running rampant. This is one client’s story of an ID theft mess.
NOTE: I wrote this post in 2012, so be aware of its age. The information in the post is still valid, though. —– Are you thinking about hiring a nanny? If so, I recommend planning ahead and making sure you have the information you need about your tax obligations. You’re an Employer Now! When you […]
This post is from 2011 but is interesting so I am leaving it up. Every now and then, a false rumor that you can stop filing tax returns once you reach age 72 goes around. This rumor is false. Also note: in the last paragraph, the dollar amount referenced is from 2011. —– In a […]
This post is from 2011, but is still good information. The $250 deduction for teachers still exists. —– Teachers who pay for classroom supplies out of their own pocket can take a deduction on their tax return. The first $250 of expenses are deductible on the front side of Form 1040. But as a taxpayer […]
If you’re looking to clean out your files this summer, here are some handy guidelines for how long certain files should be kept. Different tax professionals will give different answers for how long you should keep records, and even the guidance from the IRS can be confusing. In general, I recommend that you keep supporting […]
If you received Social Security benefits, they might be taxable. It depends on how much other income you had for the year. The first thing to do when determining of your Social Security benefits are taxable is to add 1/2 of your Social Security benefits to any other income you had. You then compare that […]
Single people who have kids may be able to save on taxes by filing as head of household. The head of household filing status provides for a tax bracket that is better than the single filing status. To qualify for head of household filing status, you must meet the following criteria: Be unmarried or “considered […]
As we head into the end of the year, it’s important to consider when income and expenses are recognized for tax purposes. Most individual taxpayers are on the cash method of accounting, so any income that you have in your hands before the end of the year will be taxable in 2010. This is true […]
We’ve been covering charitable contributions recently, and this Tax Court case from 2010 fits in nicely with that series of articles. The Tax Court case involved a couple from California who had more than $27,000 of charitable contributions disallowed by the IRS on their 2006 tax return. The Court ruled against the couple, costing them […]