If you owe past due income taxes that you cannot pay, bankruptcy may be an option. There is a common misconception that past taxes cannot be discharged in bankruptcy. This belief is simply untrue. It is possible to discharge income… Continue reading
Assume John and Mary live in a two-bedroom apartment with their two children David aged 9, and Alison age 13. Both John and Mary have jobs and they pay child care in excess of $500 per month to enable them… Continue reading
To continue renting or to purchase a home? It’s a very common question. The concept is that purchasing a home allows you to build equity so that when you sell the home and purchase a smaller one later in life… Continue reading
Charitable contributions are deductible only if you itemize deductions on your Form 1040.
To be deductible, you must make charitable contributions to a qualified organization. Payments to individuals are never deductible. To check to see if an organization is qualified,… Continue reading
The correct person to help you with your taxes is a very personal decision. Other than a spouse or a medical professional, the sharing of your own financial information with a professional tax preparer or financial planner is a very… Continue reading