Call: (503) 520-8888
Call: (503) 520-8888

Discharging Taxes Through Bankruptcy

Published July 23, 2016
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 tax debt in bankruptcy, if your tax debt fits within certain requirements. Continue reading →

How Much Can I Make And Pay No Tax?

Published July 19, 2016
As long as one of the taxpayers makes at least $6,000 in wages, John and Mary can earn up to $52,690 and pay no net income tax. Even though they have no federal withholding they will receive refundable tax credits in the amount of $511. This $511 refund will offset their state tax liability of $506 resulting in an overall net refund of $5 even though no tax was withheld. They will receive a refund from the federal government and will have to pay tax to the state. The two amounts combined result in almost no tax. Continue reading →

Deducting Charitable Contributions

Published July 19, 2016

form 1040
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 →

Choosing a Good Tax Preparer

Published July 19, 2016

tax preparerThe 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 →

 

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Abbot Tax Service, Inc
4900 SW Griffith Dr Ste 105
Beaverton, OR 97005-4649
Phone: (503) 520-8888
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