Showing posts with label limit. Show all posts
Showing posts with label limit. Show all posts
Saturday, April 30, 2022

Basis Basics

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I am looking at a case involving a basis limitation. Earlier today I accepted a meeting invite with a new (at least to me) client who may ...
Monday, February 28, 2022

Overcontributing To Your 401(k)

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  One of the accountants had a question for me: A:                I added up the W-2s, but the wages per the software does not agree to my...
Sunday, February 20, 2022

Reporting Income Below A 1099 Filing Requirement

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  I am looking at a case that reminded me of a very recent telephone call with a client. Let’s talk about the client first. It is tax se...
Sunday, December 15, 2019

Deducting State And Local Taxes On Your Individual Return

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You probably already know about the change in the tax law for deducting state and local taxes on your personal return. It used to be t...
Sunday, September 29, 2019

Excess Business Loss Problems

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To a tax accountant, October 15 signifies the extended due date for individual tax returns. As a generalization, our most compli...
Sunday, December 2, 2018

New York And State Donation Programs

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You may have read that the new tax law will limit your itemized tax deduction beginning this year (2018). This is of no concern to you...
Sunday, April 29, 2018

Taxing A Nondeductible IRA

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Let’s say that you are married. Together you and your spouse earn $200,000. BTW, congratulations. You have done well. Not Thurston How...