- Disabled Taxpayer Tax Benefits
- Taxpayers with disabilities may qualify for a number of tax credits and other tax benefits. Parents of children with disabilities may also qualify. Listed below are several tax credits and other benefits that are available if you or someone else listed on your federal tax return is disabled.
- Surrogacy Fees and Taxes
- Articles about the taxability and deductibility of surrogacy fees are rare because there are far fewer surrogacies than with conventional births. Surrogacy is a legal arrangement in which a surrogate mother, new parents and (often) a surrogacy agency enter into a binding contract. In the event of a breach of that contract, any party can be held to the terms of the agreement.
- 5 Reasons to Amend a Previously Filed Tax Return
- The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number of taxpayers. Filing an amended tax return can be a hassle that you definitely want to avoid if possible. But there are some situations where you'll have to do so, and it's prudent to seek out the help of a tax advisor who can guide you through the process. Here's why you may need to file an amended tax return.
- How High-Income Professionals Can Benefit from the Pass-through Deduction
- If you are a high-income professional who is excluded from the new pass-through deduction because you are in a specified service trade or business (SSTB), you may be able to use retirement plan contributions as a work-around so that you can benefit from that new 20% deduction.
- SALT Deduction - Battle Lines Have Been Set and Swords Have Been Drawn
- Tax reform has limited the federal itemized deduction for state income and local government taxes (including property taxes), collectively referred to as the SALT deduction, to $10,000 a year. This set off a firestorm of protests from the capitals of states with high state income and property taxes. Many called it political retribution by the Republican-controlled Congress against blue states.
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