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I try to add tax blog articles weekly on tax topics that may be interesting to you. Please browse. If there is a topic you would like to see here or would like to more information on, please contact me.

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My Tax Blog

October 7, 2020   |   0
Medical Expense Tax Deduction When Don’t Have Enough to Itemize

arm on a table with Bp cuff attached

In certain circumstances, medical expenses can be deducted on the tax return without itemizing. To see if that option is a good fit for you, some questions: Do you have medical insurance coverage through work or through a family medical insurance plan? Is the medical insurance plan deductible (out of pocket) more than $1,400 for Medical Expense Tax Deduction When Don’t Have Enough to Itemize

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September 16, 2020   |   2020
Penalty Free Retirement Plan Withdrawals—CARE ACT 2020 Tax Year ONLY

Pair of hands holding empty wallet

The other day someone affected by the COVID related business slowdown asked,  . . .”I have bills to pay, heard something on the news about the CARES Act allowing a penalty free (NOT TAX FREE)  retirement account distribution. What is the “penalty”? Do I qualify for a penalty free distribution? How to determine the taxes Penalty Free Retirement Plan Withdrawals—CARE ACT 2020 Tax Year ONLY

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August 27, 2020   |   0
IRS Pays ME Interest?!

clock with stack of coins

Yes, under certain conditions. FOR TAXPAYERS: The IRS must pay interest if the taxpayer’s tax refund is paid more than 45 days after the tax return due date.   Because of the COVID-19 shutdown, some individual taxpayer refunds have interest added.  Extra money from the IRS . . .Yay! Careful: CATCH22!! IRS interest received is taxable. IRS Pays ME Interest?!

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July 22, 2020   |   0
SCAM ALERT—Some of the IRS’s Favorites:

Accountant holding books bag of cash beside him. policeman beside him holding a pair of handcuffs

 Pfishing: Fake emails made to look like coming  from the IRS to steal personal information.  IRS never contacts taxpayers by email.  Don’t click on any “IRS” links Fake Charities—unsolicited contact from questionable charities. Have similar names to legitimate charities to fool people into giving money or financial information. Legitimate charities have an employer identification number SCAM ALERT—Some of the IRS’s Favorites:

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