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Tag Archives: Tax tips
Let the Federal Government Help Pay for Your Kids
If you are a working parent, you may need to pay for the care of your child or children. These expenses may qualify for a tax credit that can reduce your federal income taxes. Here are eight key points the … Continue reading
Child and Dependent Care Tax Credit: It’s Still Expensive to Raise a Kid
“Back in the day, we didn’t have child tax credits, we just raised them on chewin gum and knee patches.” Well, back in the day, they didn’t have athletic club teams and every kid of activity available to drain a parent’s bank account. But, there … Continue reading
Raising Kids Have Some Tax Benefits…Get Them All
Do your kids treat you like an ATM on legs? They certainly can cost you money. Well, depending on your tax situation and tax level, your kids can also put money in your pockets and you don’t have to hire … Continue reading
Penny-wise and $20 Million Foolish in Charitable Tax Donations
Did you miss a tax deduction because you did not substantiate it correctly? Don’t feel bad, Joseph Mohamed lost a $20 million tax deduction for real estate that he donated to charities. You see, Joseph wanted to save a few … Continue reading
California Tax Changes from the Passage of Proposition 30
As of November 7, 2012, the voters of California pass Proposition 30 (Governor’s ballot initiative) to fund education, the deficit, etc. The following are the results that you should consider when doing your year-end tax planning because the some of the tax … Continue reading
Posted in Personal Finances, Tax Planning
Tagged California Taxes, Personal tax planning, personal taxes, Tax tips
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Informed Giving: Even in Tough Times, Non-Profit Organizations Need You
For over three decades I have experienced charitable giving on several levels: 1) Like most people, I support those organizations that are dear to me, 2) I have sat or sit on non-profit boards, usually as Treasurer, but occasionally President., … Continue reading
Posted in Personal Finances, Tax Planning
Tagged charitable donations, personal taxes, tax accounting, Tax Filings, Tax tips
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Solving Tax Issues: Another Avenue
Probably every year new clients appear who have tax issues from various tax agencies. We usually acquire a power of attorney and step into the shoes of the taxpayer. There is a non-conventional way that taxpayers may get relief. The Taxpayer advocate … Continue reading
Posted in Business Finances, Personal Finances
Tagged business tax accountant, business taxes, Tax advice, Tax tips
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You May Be Able to Deduct the Cost of Working for a New Violent Psychopath
When I was a teen, I landed a job installing car stereos. It was the coolest job on earth because I was trained, paid well, and eventually had the best possible stereo system in my car at a wholesale cost. Never mind … Continue reading
Posted in Personal Finances, Tax Planning
Tagged Personal tax planning, tax accounting, Tax tips
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Deadline Tax Filing Tips from the IRS
Back in the 1980′s I lived in the San Fernando Vally near the main post office. At about 9 pm on April 15th, I would walk my dog to the post office to watch the late tax filers. A line … Continue reading
Posted in Personal Finances, Tax Planning
Tagged business taxes, CPA, CPA Firm Los Angeles, CPA los angeles, personal, Tax Filings, Tax tips
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