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 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…
Uncategorized There are several ways of donating to charities and getting a tax deduction for the gift. 1 Oct 2021 Here is a short list of some of them as compiled by CPA and advisor Ed Mendlowitz, Withum.com.
Uncategorized Revolving Door at Treasury Dept: 20 Sep 2021 "The largest U.S. accounting firms have perfected a remarkably effective behind-the-scenes system to promote their interests in Washington. Their tax lawyers take senior jobs at the Treasury Department, where they…
Uncategorized Changes to Federal Child Tax Credit 17 Jun 20219 Jun 2021 Previous Years 2021 Per child under 17 years old ………… $2,000.00 n/a Per child under 6 years old n/a $3,600.00 Per…
Uncategorized Wealthiest U.S. citizen reports so little income that he qualifies for refundable tax credit 9 Jun 2021 New York Times: In 2011, [Jeff] Bezos reported so little income that he qualified for — and claimed — a $4,000 child tax credit. In both 2016 and 2017, Carl…
Kenneth Athon Tax Strategies 