A disaster is a sudden, unexpected, and unusual event that can destroy property, people, and businesses. It can include natural disasters such as earthquake, hurricane, or flood, but it can also include much more banal events such as fire, accidents, theft, or vandalism. You may be able to deduct these losses from your taxes. As […]
Posts Tagged ‘tax attorney’
Now that the primary tax season is over, the IRS will begin adding data to their massive computers and begin processing the approximately one million audits they will conduct this year. The good news for potential auditees is, in the past, audits were far more frequent than they are today. In the 1960s, almost 6% […]
April 15 is past. Everyone can breathe a sigh of relief that once again, we have survived another tax day and all that is left to do is figure out what to do with our refund checks. However, you discover and error on your return. What do you do? Your Kansas City Tax Attorney has […]
April 15 has passed. You were supposed to have filed a tax return or an extension, but you did not. What happens now? First thing first, file as soon as you can. If you owe taxes, you will need to pay them right away including any interest and penalties that you may owe. If you […]
The April 15 deadline is quickly approaching, but it is far from time to panic. Your Kansas City tax attorney has some advice for this hectic time of year. There are more ways than ever to file tax returns. If you are not certain you can file in time, you can simply request an extension. […]
If you turned 70½ in 2014, your Kansas City tax attorney would like to wish you a very happy birthday and remind you that in most cases, you must begin receiving required minimum distributions from Individual Retirement Accounts and/or workplace retirement plans by Wednesday, April 1, 2015. You cannot keep money in your retirement accounts […]
Every year Taxpayers balance their tax withholdings with their actual tax liability. They may get refunds for over payments or be required to make additional payments if their withholding was too low. Individuals participating in Marketplace healthcare coverage will follow the same process. Failing to make the appropriate payments for this tax will accrue penalties, […]
Tax scams are nothing new, and the IRS has recently compiled a list of tax scams warning taxpayers about aggressive new practices trending in the early part of the tax season. Be particularly on guard against “phishing” email or telephone scams. Phishing is a fake website, email, or an impersonator that attempts to trick you […]
No one likes a tax audit, but for the foreseeable future, they will be a fact of our civilization. At best, tax audits are time consuming and frustrating; at worst, they are hideously expensive. There is no way to completely avoid audits altogether, but there are ways to reduce the risk of an audit or […]
The start of the New Year brings with it new opportunities and challenges. For those already in school, a new semester is about to begin. Other students and their parents are preparing and applying now to enter school in the fall. College is expensive but there are ways to cut costs. Parents and students should […]
