Not all charitable gifts are deductible. Here are some rules to determine if your gift qualifies for a deduction. Contact Matis at 646-580-1099 or matis@1099bookkeepers.com for help with this or other tax matters. Make sure the organization qualifies. Charitable contributions…
Personal Taxes
Tax Tips for Recently Married Taxpayers
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If you are recently married or are planning a wedding, the last thing on your mind is taxes. However, there are some important steps you need to take to avoid stress at tax time. Here are some tips for newlyweds.…
Prior-Year Tax Information from the IRS
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Taxpayers sometimes need tax returns from previous years for loan applications, to estimate tax withholding, for legal reasons or because records were destroyed in a natural disaster or fire. If your original tax returns were lost or destroyed, you can…
Tax Tips for Individuals Selling Their Home
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Here is some important information for individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain…
Amending your tax return
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If you discover an error after you file your tax return, you can correct it by amending your return. The IRS recently made several changes to Form 1040X. Using the new form will speed processing time. Contact Matis at 646-580-1099…
Potential trouble spots as IRS steps up enforcement
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Potential trouble spots as IRS steps up enforcement By Karen Hube, The Internal Revenue Service has added a couple of notches to its enforcement belt. First came the disclosure that international financial services giant Credit Suisse is under federal…
Tax Tips for Students Starting a Summer Job
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School’s out and many students will be starting summer jobs. We remind our readers that the IRS is your silent partner in most endeavors. We remind students that not all the money you earn may make it to your pocket.…
Summer Day Camp Expenses May Qualify for a Tax Credit
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Summer Day Camp Expenses May Qualify for a Tax Credit Along with the lazy, hazy days of summer come some extra expenses, including summer day camp. But, the IRS has some good news for parents: those added expenses may help…
Is the 60,000 page Tax Code too complex?
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….The Only Thing More Complex Than the Tax Code Is Figuring Out How to Fix It By Aaron Task | Daily Ticker April 18, 2011 Thanks to a quirk in the calendar, Americans had some extra time to file their…
Tax advisers: Higher rates are coming
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Tax advisers: Higher rates are coming By Bernie Becker – 04/17/11 05:27 PM ET As many Americans finish their returns to send to the IRS, some financial advisers say that, with deep budget deficits and the Bush tax…