Where What WhenArticles about Tax TipsWhy is this tax season different from all other tax seasons? Answer: because, based on everything we are reading, IRS audits are going to increase, so let's be careful - very careful. ............Read More By Eli Pollock Volume: April 2010 Your Real Estate Tax Assessment - Better Act Soon Baltimore City has high real estate taxes - double what people pay in the County. The City is facing a major deficit and, because of a limited tax base, must get money wherever it can find i ............Read More By Eli Pollock Volume: February 2010 Energy Tax Credits, American opportunity tax credit, child tax creditAmerican opportunity tax credit. A new tax law says that parents can save $2,500 on their taxes per undergraduate college student, provided that their income does not exceed $160,000. If it tops $180,000, there is no tax credit at all. ............Read More By Eli Pollock Volume: January 2010 The health savings account (HSA) The HSA also corrects the flaw in the "cafeteria plan," in which an employee sets aside some of his salary for that year's medical expenses, tax free ............Read More By Eli Pollock Volume: May 2009 Tax Talk - Don’t Make These Mistakes As always, make sure to pay tax deductible expenses before the end of the year – items like real estate taxes, charity, college expenses, day care, and medical expenses, etc.The turn of the new year is an important milestone for anyone paying income tax – which means the vast majority of us. ............Read More By Eli Pollock Volume: December 2008 Important note: Assessment notices are very significant! .You have only 45 days to fight your assessmentYou cannot receive the rebate if you do not file a return. Therefore, you should file, even if you do not earn enough to file, or if you are a senior citizen whose only income is from Social Security. Some of these people have not filed in years but should file this year. ............Read More By Eli Pollock Volume: Purim March II 2008 The first decision you should make is whether to use what is called the “standard deduction.As yet another tax season rolls around, here are some planning tips that can be critical to saving you money: ............Read More By Eli Pollock Volume: February 2008 New tax law that took effect at the beginning of 2007 Starting this year, charity donations will only be deductible if you have a receipt or canceled check.Starting this year, charity donations will only be deductible if you have a receipt or canceled check. ............Read More By Eli Pollock Volume: July 2007 Well, another tax season rolls around. You already know my motto: When it comes to taxes, timing and planning can be very significant. There are always issues. In fact, due to last minute Congressional action, three tax deductions have no lines on the tax form to list them! Here are some pointers: ............Read More By Eli Pollock Volume: February 2007 Requesting An Extension Of Time To File Income TaxesWhich of the following statements are true regarding April 15th? ............Read More By Eli Pollock Volume: Pesach April 2006 It’s tax time again, and as in former years, I find myself educating clients on tax law. There are several areas that people constantly seem to be confused about, and I am sure that many are making common errors. ............Read More By Eli Pollock Volume: Purim March 2006 Maximizing Your Post-Retirement Assets You’ve worked hard all your life, and finally reached the age when you don’t have to rush off to work each morning. As you have told your children and grandchildren, a strong work ethic, along with a prudent, penny-wise life style, has enabled you and your spouse to accumulate enough assets to live fairly comfortably during your retirement years. ............Read More By Alexander F. Barron Volume: February 2006 Tax AdviceWell, another tax season is rolling around. When it comes to taxes, timing and planning can be very significant. So here are some pointers. A new energy bill that takes effect after December 31 will provide tax savings for items like new windows, home improvements, and the purchase of an alternative-fuel car. So you might want to push these items off till after January 1. ............Read More By Eli Pollock Volume: Chanukah December 2005 Employee or Independent Contractor? What You Need to KnowA few months ago a new client called me for help in filing taxes for 2003 and 2004. When we met, I discovered that he earned about $50,000 per year – not a very large income – yet when I was done figuring his taxes, it turned out he owed the government $30,000, plus interest and penalties! He will be paying this off for years to come. ............Read More By Eli Pollock Volume: November 2005 The Many Ways People Understand FinancesA friend recently called me with a problem. He needed to borrow $20,000 per year for the next several years to pay for his children’s college education and wanted to discuss various loan options. He came over and we started running through his situation. I asked him how much he made a year, and he responded, “Close to $200,000. ............Read More By Eli Pollock Volume: Rosh Hashanah September 2005 |
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