What alimony tax issues apply when paying or receiving alimony? After all, divorce can be difficult enough. Add to it that divorced individuals may have to pay or receive alimony just complicates issue. If this is your situation, here are some tips for how to correctly treat the payments on your tax return.
Address Change? Let the IRS Know!
Have you changed your address lately? You may want to keep these things in mind to make sure you receive your refunds or information from the IRS. This is true for your home or business address. … Read More
Should I Make An Estimated Tax Payment?
Estimated tax payments, should I make one? That is a good question and often comes up at the end of every year as to whether one should make an estimated tax payment or not. Let’s split … Read More
Is Your Hobby a For-Profit Endeavor?
Whether an activity is a hobby or a business may not be apparent to the customers of the endeavor. However, distinguishing the difference is necessary for tax purposes. Why? Because the tax treatments are substantially different. … Read More
Winning the Lottery, What is the Best Payment Option?
Did you win the lottery? If you are reading this, I will assume you did. You are asking yourself whether to take the lump sum or the 20 year payout option. Our Weymouth office is on … Read More
Pervasive Telephone Scams: Did you get a call from the IRS?
Identity theft comes in many ways, shapes and sizes. Thieves will stop at nothing to get ahold of your personal information. The best way for them to do this is to make you very afraid. And … Read More
Self-Directed IRA: 9 Things You Should Know – Buyer Beware
By – Cindy Toran Have you ever thought about how you could benefit from a self-directed IRA? Any ideas on how you might use one to your financial advantage? It would seems simple enough. Invest in … Read More
Taxpayer Identity Theft: IRS v Massachusetts
by Alex Franch, Enrolled Agent Recently, the Massachusetts Department Of Revenue (Mass DOR) announced some new tax fraud prevention tools. Let’s compare how Massachusetts Department of Revenue measures up to the big dogs at the IRS … Read More
Shut up for 60 days!
by Alex Franch, Tax Specialist I see a lot of correspondence from the IRS. Some of it is legitimate, some of it seems dubious to me, and some of it is good news ! Then there … Read More