Tax - Your Tax Matters Partner

The $1,100 Per Child Tax Rebate Bonus For Unmarried Parents

by admin | Mar 10, 2021 | Tax

Divorced and never married co-parents have the chance to pick up an extra $1,100 per dependent child when they file their 2020 returns. It requires trust, cooperation and running multiple versions of their 2020 returns. It is probably not what Congress intended when...

Stimulus Checks And Your 2020 Return – Hurry Up Or Wait ?

by admin | Mar 7, 2021 | Tax

The American Rescue Plan Act of 2021, “the Biden stimulus package” is not law, as I write this. It seems very likely to pass though and some people may want to take action in anticipation of it. That would be filing your 2020 federal income tax return...

Taking Another Look At The Hazards Of Filing Form 1099

by admin | Mar 4, 2021 | Tax

Failing to send a 1099 can have some really nasty implications, so a lot of us are careful to not miss sending one out when required. Unfortunately, you can also get in trouble for sending one that should not have been sent if the person receiving it objects. If...

The “Hey Hey Just Don’t Pay” Tax Strategy

by admin | Mar 1, 2021 | Tax

One of the favorite sayings of my first managing partner the late Herb Cohan was “I’d rather owe it to you than cheat you out of it.” To be honest, like some of the other sayings, it was never clear exactly what it meant. Nonetheless, I think it...

Low Income Housing Tax Credit – Aggregators Fight Sponsors In Year 15

by admin | Feb 26, 2021 | Tax

Rule 97 of the Ferengi Rules of Acquisition – Enough is never enough – seems to be theme of the Year 15 struggle between aggregators and the not-for-profit(NFPs) sponsors of low income housing projects. “Year 15” is a reference to the...

Mann Case Sets Precedent For Building Material Reuse Tax Charitable Valuation

by admin | Feb 17, 2021 | Tax

Last month gave us another building material reuse charitable deduction case. The Fourth Circuit sustained a district court decision that entirely denied any charitable deduction to Lawrence and Linda Mann for material from the tear-down of a Bethesda, Maryland house...