Potpourri of Tax Topics

/Potpourri of Tax Topics

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.

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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.

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Revisiting a History of Marriage in the Tax Code, Part 4

By | August 31st, 2017|Categories: Potpourri of Tax Topics|Tags: , |

Image courtesy of Pixabay.com Back in 2014 and into 2015, I posted a multi-part series of posts about the history of marriage in the tax code. In 2016 I was asked to condense that series into a CPE presentation. Here are excerpts from that presentation. This series of posts will cover a lot of [...]

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Revisiting a History of Marriage in the Tax Code, Part 3

By | August 17th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

In Part 3 of this series, we explore why joint tax returns were so common even after major tax-law changes in 1917.

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Can I Claim My Disabled Daughter as a Dependent?

By | August 15th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

Your daughter is likely your dependent. The key test is: is she providing more than ½ of her own support?

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