Kenneth Athon – Page 8 – Kenneth Athon Tax Strategies

Proof that your tax return was timely filed

As proof of receipt of an electronically-filed tax return, the IRS sends a digital acknowledgement back to the electronic filer (tax preparer). You can get a copy of the acknowledgement…

Many ways to direct deposit your tax refund

Income tax refunds can be split, to be directly deposited to more than one account. Additionally, a federal tax refund can be used to directly and seamlessly purchase I-Bonds. Be…

Combining the Standard with an additional deduction

15 Feb 202115 Feb 2021

For most taxpayers in our state, due to tax law changes during the Trump administration, the Standard Deduction (one generic subtraction from your taxable income) is more favorable than Itemized…

A Big Worry for the State Department of Revenue

Each year, tens of thousands of payment checks are submitted to the state Department of Revenue without the necessary identifying information to readily identify the taxpayer or tax liability and…

Bitcoin and Virtual Currencies

10 Feb 202111 Feb 2021

The individual income tax forms ask if the taxpayer (and/or spouse) have engaged in any transactions involving Virtual Currency. The best known virtual currency is Bitcoin, but there are others.…

Economic Impact (Stimulus) Payments

7 Feb 202124 Feb 2021

Stimulus payments from the government to taxpayers in April and December 2020 are not taxable. However, the amount you received (and zero if you received none) must be reported on…

Covid-19 Impact on your family?

29 Jan 20217 Feb 2021

Have you or anyone in your residence been affected by Covid-19? By CV-19 sickness or job/income reduction? Be sure to let me know, because there are favorable tax treatments for…

The Earned Income Tax Credit

29 Jan 20217 Feb 2021

The Earned Income Tax Credit can help pay a taxpayer's tax liability and - if there is any tax credit left over after that - pay the rest of the…

Is this a “nice problem to have?”

20 Apr 20187 Feb 2021

-------------------------------- The Wall Street Journal reports that John Paulson became famous for one of the savviest financial plays of all time. Unlike most everyone else, Paulson invested against subprime mortgages during…