Articles - Page 143

IRS Tax Liens

If you owe the Internal Revenue Service a large amount of money from previous tax years, and have not answered correspondence or started a payment plan, you may end up with a lien...

10 Common Itemized Tax Deductions

Come tax season, your ultimate goal when it comes to filing your return is to maximize your tax savings. There are several ways to this both throughout the year with investment options...

Your questions answered about Expatriate Tax

It’s not every day that the words “Expatriate Tax” cross your path. Generally speaking, it’s not the most common of tax situations even if you’re a tax preparer. If you already...

Hello everyone! This is Donna from Donna J. Jackson & Associates, PLLC. It seems that topic on everyone’s minds these days: how can I get more tax savings? I think we can all...

Investors: Make sure you avoid these 5 common tax mistakes

For most investors, and even certain tax accountants, sorting through the multifaceted IRS rules on investment taxes can undoubtedly be a nightmare. Drawbacks abound, and the consequences...

What can you deduct on your Federal Tax Return?

The first step when it comes to filing your federal tax return is going to be deciding just how you’re going to file. The first major question you’ll need to ask yourself is “Should...

Rules for foreign currency transactions

Rules for determination of amount, timing, character and source of foreign currency gains and loss are present in code section 988. Following transactions are included in code section...

Tax Basics for Real Estate Investors

Tax Basics for Real Estate Investors Real estate investors have a unique income stream. At the same time, it comes with its own distinct challenges in terms of tax liabilities....

Income Tax Exemptions

While filing our taxes might involve a detailed analysis of what we spent throughout the year to build our list of deductions, the IRS also offers some incentives that reduce the amount...