Yes, if adding to retirement is consistent with your overall financial objectives, it will definitely also help your tax strategy. But remember that contributions can’t be withdrawn until the legal age limit (generally 59-1/2 […]
From the nielsen law group Tag
Yes, of course. BUT, we do need a signed 3rd party waiver from you to discuss your matters with the advisor. This also goes for anyone other than you. _______________________________________________________________________ If you have a question […]
We just need the amount to report it. The 1099 isn’t necessary SO LONG as we have the proper, accurate amount. Have more questions? Call (480) 888-7111 to schedule your free consultation today! _______________________________________________________________________ […]
The state refund is only taxable to the extent that it exceeded the sales tax deduction. This carry forward amount is calculated on what is called the “Refunds Worksheet” that can be found in […]
These types of losses can carry forward until they’re used. There is NO time limit. Have more questions? Call (480) 888-7111 to schedule your free consultation today. _______________________________________________________________________ Have a question you would like […]
Note that a good investment/financial advisor is very knowledgeable on this front and should be able to guide you in the specifics of using retirement accounts (along with a variety of other investment vehicles) […]
You can just pay the difference. When you’re entitled to a refund, the IRS will first check to see if there are any amounts due for prior years and apply the refund to those […]
Filing a prior year return start the Statute of Limitations clock – as a general rule, the law allows the IRS to audit any return up to three years back from the date it’s […]
No, an “extension” is a request for more time to file your return, not an extension of time to pay your taxes. Taxes are generally due by April 15th, and in some cases, by […]
In almost every situation, it is ideal to report rental properties on a business return, not your personal return (Schedule E). If you have more questions and would like to schedule a free consultation, […]