From the arizona tax attorney Tag

Tax Tips for Tip Income

Anything you receive as a tip is considered taxable income.  Usually a tip is in the form of cash.  But occasionally a tip may be in the form of something that is not cash, […]

Tax Tips for Scholarships and Fellowships

If you or a child are receiving a scholarship or fellowship for attending a college or other form of higher education, there are a few tax tips to know in order to reduce or […]

Taxation of Foreign Pension Contributions

For migrants or people living outside of their native country who are working abroad, participation in a foreign pension plan can complicate an already complicated tax scheme.  Expatriates often run the risk of adverse […]

Taxation of Foreign Pension and Annuity Distributions

If you receive a distribution from a foreign pension plan or a foreign annuity, you may have to pay a U.S. tax on the distribution.  Generally the taxable amount is the total amount of […]

Amnesty for Independent Contractors vs. Employee Mistakes

For small businesses with employees, the distinction between an independent contractor and an employee may seem negligible.  Both work for you and provide some sort of service for which you pay compensation.  But there […]

Business Deduction for Work Related Education

In the ever-changing world of employment, keeping current on skills and education is paramount to retaining your current job, or getting a new one.  For taxpayers who itemize their deductions, there may be some […]

Too Early For Year End Tax Planning?

As the saying goes, those who fail to plan, plan to fail.  But as summer winds to an end, school starts up and football games kick off, year end tax planning may still seem […]

Employee or Independent Contactor

It is crucial for employers to correctly categorize service providers as employees or independent contractors.  It’s especially true for small businesses because they don’t often have the systems in place to correctly determine if […]

Child and Dependent Care Expense

In these modern times a dual income family is the norm.  When a dual income family also has children, it’s necessary to get some kind of care for those children so both parents can work full […]

Foreign Tax Credit

The purpose of the foreign tax credits is to allow U.S. taxpayers to avoid double taxation on income that is taxed both by the United States and a foreign government.  Note that any foreign […]