Monthly Archives: December 2015

Daily Gambling Log

Technically speaking, an amateur gambler must report the full amount of each and every win on the miscellaneous income line on page 1 of Form 1040. Use this for your LOG, and enclose it with the rest of your tax … Continue reading

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How Far Back Can the IRS Audit?

  There are two basic statutes of limitation.   First is the statute of limitations, which provides that the IRS has three years to assess an additional tax due. For example, for a taxpayer who filed a 2012 tax return … Continue reading

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Year-End Tax Tips for Individuals 2015-2016

ALEXANDRIA, VA. (NOVEMBER 30, 2015) BY MICHAEL COHN (Accounting Today)   The National Society of Accountants has released some suggested year-end tax tips for individuals, courtesy of Wolters Kluwer Tax & Accounting US. Individual income tax rates of 10, 15, … Continue reading

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Social Security – Navigating The Effective Date Deadlines For The New File-And-Suspend And Restricted Application Rules

Michael Kitces NOVEMBER 4, 2015         With last week’s “surprise” legislation that revealed Congress is killing the File-and-Suspend and Restricted Application claiming strategies for maximizing Social Security benefits, even those who weren’t previously aware of the strategies … Continue reading

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Year-End Tax Tips for Businesses 2015-2016

ALEXANDRIA, VA. (NOVEMBER 30, 2015) BY MICHAEL COHN (Accounting Today) The National Society of Accountants is offering some year-end tax tips for businesses, courtesy of Wolters Kluwer Tax & Accounting US. Consider several general strategies, such as use of traditional … Continue reading

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