Tax Advantages of Being Charitable Aah….This time of year is filled with generosity. Even curmudgeons are infected with the holiday spirit. Remember, however, that not everyone is enjoying this season’s largess. This year and last, many people’s lives have fallen apart. People who used to…
Year-End Bonuses: Are They Taxable? The first year-end bonus I ever got was a $25 gift certificate to the local supermarket. The best bonus I ever got was a car, $100 cash, and a box of chocolates. Alas, the 260Z was made by Tonka. But…
Tax Schemes and Tax Turkeys: Stay Away from Too-Good-to-Be-True Tax Advice Several years ago, an attorney asked me to handle an IRS audit of a trust for one of his clients. His explanation of the trust was confusing at first (and I’m a tax professional!),…
Winner! Winner! Winner!: Tax Implications of Winning Lotteries and Game Show Prizes Someone just won $30 million in the California SuperLotto Plus. It wasn’t me. Doesn’t it burn you up when you look up your numbers and someone else has won? Playing the lottery isn’t…
New Tax Laws for 2011 Over the last decade, dozens of tax acts have been passed, filled with hundreds of changes to the tax law. But this year alone, there have been nearly a dozen new tax acts. Ironically, nearly all of the new laws…
Open-Enrollment and FSAs: A Bonanza of Tax Advantages November is here, that magical time when my husband’s employer has open enrollment, when employees can register for or make changes to their benefits. Working for one of the biggest school districts in the country affords him…