Revisiting a History of Marriage in the Tax Code, Part 3
In Part 3 of this series, we explore why joint tax returns were so common even after major tax-law changes in 1917.
Can I Claim My Disabled Daughter as a Dependent?
Your daughter is likely your dependent. The key test is: is she providing more than ½ of her own support?
Revisiting a History of Marriage in the Tax Code, Part 2
In the beginning, in 1913, there were no filing statuses. There was just one tax bracket that applied to all taxpayers.
Revisiting a History of Marriage in the Tax Code, Part 1
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 the same ground as was […]
3 Things About the Unknown Licensed Public Accountant
Iowa is one of a small number of states that has a designation called Licensed Public Accountant.
Managing Cash Flow and Working Effectively with Banks: Part 1
This is an excerpt from a presentation I give to business owners about managing cash flow and working effectively with banks.
If Newly Self-Employed, Beware of Self-Employment Tax
Self-employment tax is the bane of existence for many sole proprietors. And it’s often a surprise to people who are new to self-employment — they file their tax return and find out that things often turn out much differently when you’re self-employed.
Glossary: Non-Deductible IRA Contributions
A non-deductible IRA contribution refers to money put into a traditional IRA, for which the taxpayer does NOT get a tax deduction.
Do I Need a Receipt for Charitable Contribution Less than $250?
Question from a client: One of the charities I donate to told me that I don’t need a receipt unless I donate $250 in one year…is this true…even if I get audited? Answer: Yes.
Glossary: Itemized Deductions
Itemized deductions are an optional deduction taxpayers can take on tax returns for things such as medical expenses, property taxes, mortgage interest, and charitable contributions.