Working The Puzzle From All The Angles
On Behalf of Demetrius J. Karos, Ltd. | Feb 1, 2017 | Tax Law
Choosing the correct filing status is important. The correct status might save you money and could eliminate the IRS coming back and challenging the status on a previous tax filing.Here is a brief synopsis of the each filing status: Choosing the Correct Filing...
On Behalf of Demetrius J. Karos, Ltd. | Feb 1, 2017 | Tax Law
It is alway a good idea to review your exemptions and whom you support. This could be the situation in a divorce, elderly parents or the care for a another person's child. Here is a good review of some of the dependency requirements. How Exemptions and Dependents Can...
On Behalf of Demetrius J. Karos, Ltd. | Jan 26, 2017 | Tax Law
The Government owes you money. Why not get your money now so you can decide on how to spend it.Here are a few tips to put your refund in your account quicker and in a safe manner: Five Reasons to Choose Direct DepositEasy, safe and fast - that's direct deposit....
On Behalf of Demetrius J. Karos, Ltd. | Jan 25, 2017 | Tax Law
Here are a few tax tips to keep in mind when preparing your tax return or reviewing the professionally prepared return. Five Tips on Whether to File a 2016 Tax ReturnMost people file a tax return because they have to. Even if a taxpayer doesn't have to file, there are...
On Behalf of Demetrius J. Karos, Ltd. | Aug 31, 2016 | Tax Law
Home repairs can be draining on your pocket book. However, some repairs help the environment and save you money on energy costs. As an incentive, the government is offering various credits to ease the pain of making these changes to your home. Home Energy...
On Behalf of Demetrius J. Karos, Ltd. | Aug 5, 2016 | Tax Law
Some taxpayers have a hobby or craft that could be a money maker. This could be almost any type of activity whereby you charge a fee or sell a product. The mere fact that you call something a business, does not mean that the IRS cannot disallow losses or expenses...
On Behalf of Demetrius J. Karos, Ltd. | Aug 1, 2016 | Real Estate, Tax Law
As the housing market improves, some taxpayers may incur a gain on the sale of their personal residence. Part if not all of that gain may not be subject to income or capital gain tax.Here is a summary of some of the potential situations that may arise: How Selling...
On Behalf of Demetrius J. Karos, Ltd. | Jul 29, 2016 | Tax Law
Many take up a cause and travel to a place where they can help those in need. This is a great way to give back and to get a small tax benefit for your service. Here is a few tips for those who volunteer with a charitble organization. IRS Offers Tips on Charity...
On Behalf of Demetrius J. Karos, Ltd. | Mar 21, 2016 | Tax Law
If you did not get your tax refund, the IRS may not be the reason for the oversight. Other government agencies can grab your refund if you owe specific types of debts. Search deep into your past to determine if there is a reason for the offset. Calling the IRS is an...
On Behalf of Demetrius J. Karos, Ltd. | Mar 4, 2016 | Tax Law
Capital gains are nice for two reasons. One, you probably made money. The second reason is that they might be taxed at a lower rate. Capital loss are the opposite. First, you lost money. Second, the losses might be limited.Below are some interesting facts about...
