As the end of the year quickly approaches, the January 31, 2019, 1099-MISC filing requirement is on the horizon.
Author Archives: Jorge Guerrero CPA
Last summer I wrote a blog entitled, “So You Are Changing Jobs, Are You Forgetting Something?
We live in an ever changing world. Some areas which will most likely change many times during your lifetime include your car, job, the place where you live, your hobbies, your relationships with others, and even the organizations you associate with.
As mentioned above property transfers between spouses as part of divorce decree or separation agreement are tax-free however, disposing of the property could have unintended tax .
Alimony is a payment made to a former spouse under a divorce or separation agreement.
On December 13, 2016, President Obama signed into law the “21 Century Cures Act”.
As a general rule, an individual taxpayer who is not considered insolvent or in bankruptcy may have to treat cancelled debt unrelated to their personal home as taxable income.
When taxpayers mix pre-tax and after-tax contributions in the same retirement account such as a 401(k) or other defined contribution retirement plan, withdraws and rollovers can have unintended tax consequences if not properly planned.
It’s tax time! This means it’s now time to report your compliance (or lack of compliance) of the Affordable Care Act to the IRS. If you and every member of your household had health insurance coverage the entire year, compliance is as simple as checking the box on line 61 of Form 1040 (line 38 of Form 1040-A, or line 11 of Form 1040-EZ).
Back on July 31, President Obama signed new legislation that adds a more logical flow to the tax filing deadlines.