Uncategorized Donate Your House to a Private Foundation, Get a Tax Break While You Continue to Live There Indefinitely. 1 Aug 2023 The headline above is not my general advice. But it happens, and sometimes in egregious ways. "For the ultrawealthy, donating valuables like artwork, real estate and stocks to their own…
Uncategorized Taxation of Gaming 28 Jun 202326 Jun 2023 The taxation of gaming is in the news again, as states prepare to tax betting platforms and as states without traditional income tax start to think about taxing gambling winnings…
Uncategorized Common beneficiary mistakes as identified by Ed Slott 25 Jun 2023 I've been reviewing some advice from retirement expert Ed Slott, who likes to zero in on common mistakes. Here's my take: Common beneficiary mistakes when it comes to leaving retirement…
Uncategorized What to keep and how long 29 Apr 202329 Apr 2023 The main record to keep is your Form 1040, along with attached schedules and forms, because it shows that you fulfilled your tax-filing obligation and it can be handy for…
Uncategorized Presidential Tax Returns 26 Apr 2023 President Joe Biden and his wife, First Lady Jill Biden, made their 2022 tax return public. As did Vice-President Kamala Harris and Second Gentleman Douglas Emhoff.You can download or view…
Uncategorized An Interesting Take on the Powerball Lottery 9 Nov 2022 The recent world's largest lottery jackpot is discussed in "How to think about Powerball's record '$2 billion' jackpot like an economist" including The world's largest lottery drawing ever was no…
Uncategorized Tax preparers are balking at crypto currency challenges 20 Sep 2022 The main Crypto Currency challenge for tax preparers is that clients do not provide appropriate sales reports for all of their transactions across all crypto currency platforms and exchanges. Tax…
Uncategorized Student Loan Forgiveness = State Income 31 Aug 2022 According to the Tax Foundation, as quoted by Forbes Magazine, 13 states could treat President Biden’s student loan forgiveness initiative as taxable income to borrowers. The states are Arkansas, Hawaii,…
Uncategorized Newlywed? 2 Aug 2022 Name and address changes: Individuals who change their name after marriage should report their name change to the Social Security Administration (SSA) as soon as possible. The name on an individual’s…
Kenneth Athon Tax Strategies 