Articles - Page 191

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...

Charitable deductions and what you can claim

Do you happen to be the charitable type? Depending on which organization(s) you chose to donate your time, money, or goods to, you may be able to deduct those donations on your tax...

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...

Making Lemonade Out of Lemons - Tax Loss Harvesting

AccountantHas the instability of the stock market got you thinking about what exactly you can do? Now may be this is the perfect time to make your own lemonade. It is wise to consider...

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...

Tax Refunds

For many, filing their tax return leads to a tax refund depending on their status and income. Working with a tax preparer, such as Bhatia & CO, INC, CPAs in Santa Clara, CA, you...

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...