Taxable Tips on Gambling Income
Whether you like to play the ponies, roll the dice or pull the slots, your gambling winnings are taxable. You must report all your gambling income on your tax return. If you’re a casual gambler, [...]
Getting Wedding this Summer, this may mean Tax Changes.
Taxes may not be high on your summer wedding plan checklist. But you should be aware of the tax issues that come along with marriage. Here are some basic tips that can help keep those [...]
CA – Finally gets Tax Relief for Mortgage Debt Foregiveness!
Last week the CA State Assembly finally gave final approval to state income tax relief to homeowners who sold their homes on short sales or obtained loan modifications from their lenders last year, (2013). So [...]
IRS makes it easier to submit application for non profits!
The Internal Revenue Service today introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily. “This is a common-sense approach that will help reduce lengthy processing delays for [...]
IRS to Deactivate Unused ITINS
Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years, the Internal Revenue Service announced today. To give all interested parties time to adjust and [...]