by Paula Kennedy, EA | Nov 17, 2020 | Tax
Many Americans receive disability income. You may wonder if — and how — it’s taxed. As is often the case with tax questions, the answer is … it depends. The key factor is who paid for the benefit. If the income is paid directly to you by your employer, it’s taxable to...
by Paula Kennedy, EA | Nov 13, 2020 | Tax
When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning and advice, some people find divorce to be an even more taxing experience. Several tax concerns need to be addressed to ensure that taxes are kept to...
by Paula Kennedy, EA | Nov 13, 2020 | Tax
If you invest in mutual fund shares, be aware of some potential pitfalls involved in buying and selling. Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund...
by Paula Kennedy, EA | Nov 10, 2020 | Tax
October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) If you’re finally done filing last year’s return, you might wonder: Which...
by Paula Kennedy, EA | Nov 10, 2020 | Tax
If you file a joint tax return with your spouse, you should be aware of your individual liability. And if you’re getting divorced, you should know that there may be relief in the form of “innocent spouses” available if the IRS comes after you for certain...
