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Law Guide
The Law Guide contains articles written by attorneys that are easy to understand and answer frequently asked questions covering 100+ legal topics. Select a legal category below or use the search button to find a Law Guide article of interest to you.
New York State taxpayers can expect to find some new items on their 2013 state tax return, several of which will apply for future years. The following are noteworthy highlights from the New York State Department of Taxation Form IT-201, Full-Year Resident Income Tax Return, and Form IT-203...
When the costs of medical services are not covered under your health insurance plan, they still may be deductible on your federal income tax return. However, the Affordable Care Act has impacted the amount of medical expense deductions that may be available.
Tax Deductible Medical and Dental...
It’s unusual that the IRS generates a tax refund check by mistake but it does happen. And when it does, you might want to consider the consequences of cashing in on your lucky day. Do you need to pay it back to the IRS? (The answer should be simple.) When might you need to return the money to...
Your child can bring some additional joy to your life during tax season. The federal government recognizes the significant costs involved with raising children. As a result, the Internal Revenue Service (“IRS”) provides special tax benefits for parents. The following list of tax credits...
What happens if April 15th arrives and you realize that you won’t be able to file your income taxes on time? How about making a late tax payment? And what if you can file but cannot afford to pay what you owe to the Internal Revenue Service (“IRS”) at the deadline? There is no need to panic...
Making a donation to a charity, whether it is old clothes or money, may come with an additional benefit - a deduction on your federal income tax return. However, not every charitable contribution may be deductible, which is why it’s important to understand the rules and conduct proper tax...
Bad investment advice, recent economic troubles and poor stock market performance have resulted in many people losing a great deal of money on their investments. However there is some hope for a taxpayer suffering such misfortune. The taxpayer may be able to recoup some of the losses with the...
People work hard to earn money at work. Fortunately, tax credits are available to certain taxpayers which can limit the amount paid to the Internal Revenue Service (IRS). It can be a difficult process to determine which tax credits are available from the IRS / federal tax code and there are...
In the past, the rich and wealthy could avoid paying most or all of their income taxes by taking advantage of tax loopholes in the tax code. However, in 1969 the federal government came up with the AMT (Alternative Minimum Tax) in order to put a stop to this tax practice. It was another way to...
With a growing frequency, taxpayers not only live, sleep and eat with their families in their home but they also work there too. Whether you spend a couple of hours a week at home for work or it’s a full time engagement, you should know whether you have the ability to file a tax deduction for a...