Americans gave $520.23 billion in charity in 2015, equivalent to 3% of the U.S. GDP (gross domestic product). The majority of that charity, $418 billion, came from the individuals...
There will be many circumstances or periods where you will owe the IRS money. If you are unable to pay and have avoided paying the IRS, you may be subject to seizure, which is...
If you're a gambler or if you intend to start gambling in 2016, then one thing you need to keep in mind is that whenever you make a loss on your gambles, you can claim a deduction...
There are many complicated requirements and restrictions that come with this general rule, so consulting with an experienced tax professional like Allan J Rolnick in Forest Hills,...
If you live in Las Vegas, then you’re no stranger to the fortunes that can be made by Dame Fortune. While you may bask in the financial windfall, don’t expect for that feeling...
For many individual taxpayers, the only thing worse than having to meet with your tax professional to file your taxes is finding out that you paid more tax than you needed to. While...
Posted by James Wells EA MBA Tax Office on 01/21/2016
If you won the jackpot this year at one of the Casinos, you’ll want to put a little aside for the IRS. Casino winnings are taxable, and large payouts need to account for the...
Contributions and donations given to a charity are tax deductible expenses. One of the perks to donate to a qualified charitable organization is that you not only get to help your...
Tax deductions are popularly known to diminish your taxable earnings. Lesser earnings mean that you incur a small tax bill. But, the main confusion here, for many taxpayers is...
Posted by Allan J Rolnick, CPA, CTC on 01/13/2016