The first step to maximizing your tax refund - and possibly keeping the
IRS at bay - is to use the correct filing status on your tax returns. If
only it were as simple as choosing Single or Married. But alas, there
are a whopping five (5) filing stat...read more
Be prepared and make tax preparation a breeze! Imagine how beneficial
and stress-free it would be to not rush around last minute gathering
your tax info. You can begin by making a list of what's changed since
last year and gather your supporting docu...read more
The end of the year is more than just holidays, great food, and family!
It’s also the perfect time to make smart money decisions, take action to
reduce your tax liability and give yourself peace of mind! The following
links are filled with tips and s...read more
I entered K-1 for intangible drilling cost (loss entered as deduction).
Turbo Tax has applied the deduction to both Federal and California state
returns. From 2024, California does not allow intangible drilling cost
deduction but Turbo Tax seems to h...read more
I was married for 20 years and my divorce was finalized April 2024. When
I began my taxes this year, Turbo Tax automatically entered all of my
ex-spouse's information from last year assuming I am still married. How
can I remove him from my taxes? I h...read more
Enter the amount you paid for home insulation systems or materials
designed to limit the heat loss or gain of your home. What type of
materials is it? Thank you. Marina
This might be a stupid question. LOL. The Trust’s Inherited IRA took the
RMD for my father who passed away last year because he didn’t take one
while he was alive. This was reflected on the Trust 1041 which was
filed. On my father’s final 1040 there ...read more