Potpourri of Tax Topics

/Potpourri of Tax Topics

Revisiting a History of Marriage in the Tax Code, Part 7

By | October 10th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

After Poe v. Seaborn, proposals to equalize the tax treatment of married couples were floated in 1933, 1934, 1937 and 1941, but none of the proposals were adopted.

Comments Off on Revisiting a History of Marriage in the Tax Code, Part 7

Revisiting a History of Marriage in the Tax Code, Part 6

By | September 28th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

Now let’s look at what the IRS and the courts had to say about the issue of filing separate tax returns and community property law in the 1920s.

Comments Off on Revisiting a History of Marriage in the Tax Code, Part 6

Revisiting a History of Marriage in the Tax Code, Part 5

By | September 20th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

Community property laws factored heavily into the creation of filing statuses in the U.S. Tax Code.

Comments Off on Revisiting a History of Marriage in the Tax Code, Part 5

Glossary: AGI

By | September 14th, 2017|Categories: Potpourri of Tax Topics|Tags: , |

AGI stands for "adjusted gross income." AGI is the bottom-line number on the front side of the federal Form 1040. It's a key number as a taxpayer's AGI determines eligibility for credits and various deductions elsewhere on the tax return.

Comments Off on Glossary: AGI

Are Iowa 529 Deductions Just for Dependents?

By | September 12th, 2017|Categories: Potpourri of Tax Topics|Tags: , |

The rule is, you can take a deduction on your Iowa return of up to $3,239 (in 2017) per beneficiary. A beneficiary does NOT have to be your own child. I can be anyone, including yourself, or even someone who’s not related to you.

Comments Off on Are Iowa 529 Deductions Just for Dependents?