Basics of Form 8283

By | February 21st, 2018|Categories: Potpourri of Tax Topics|Tags: , |

Form 8283 is used to report non-cash charitable donations over $500.

Does My Teenager Need to File a Tax Return?

By | February 14th, 2018|Categories: Potpourri of Tax Topics|Tags: , |

Let’s look at the rules for when a dependent needs to file a tax return. For reference, see Table 1-2 on page 7 of this year’s IRS Publication 17.

How Will the New Tax Law Affect the Preparer Industry?

By | February 7th, 2018|Categories: Editorial Commentary|Tags: |

I think tax reform will be a mixed bag for preparers ... those of us who deal with average folks will likely be hurt, while the firms that deal mainly with businesses will likely benefit.

I Have the Yips

By | February 2nd, 2018|Categories: Editorial Commentary|Tags: |

Image courtesy of user "kellepics" on I’ve gone back and forth over the last few months about whether or not to share this. Eventually I decided that this is a glimpse into the real-world side of running a tax practice. And so I'm sharing. ----- I have the “yips.” Normally we think of [...]

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What is the Tax Benefit Rule?

By | January 31st, 2018|Categories: Potpourri of Tax Topics|Tags: , , |

In tax terminology, the phrase “tax benefit rule” refers to whether or not a refund or recovery received in a future year is taxable. For example, whether or not a state income tax refund is taxable on your federal return depends on the “tax benefit rule.”

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