Today, I was asked that question everyone dreads having to ask. “My dad passed away suddenly last night. He took care of all the investments and taxes. My mom doesn’t know anything. What should she do?” How can you and your spouse avoid being in this position? Today I will talk about the bare minimum…

Thinking about giving some cash for the holidays? One of the questions we get asked most frequently is, “How much can I give? Do I have to pay tax on gifts I give? Does the person I give a gift to have to report it as income?” In addition to making both the giver and…

We all see the pictures on TV of the disaster in the Philippines, and of course we all want to help. Just remember that disasters bring out the worst in some people, and they’re out there trying to scam you now. Here are some helpful tips to make sure that your money goes where you…

Today I was reviewing a tax return. The taxpayer told me that she and her husband supported their three children, and also both of their mothers. As I looked at their return, however, I saw they had only claimed their children as dependents. The taxpayer told me she thought you could only claim children, not…

WASHINGTON — The Internal Revenue Service today warned consumers about a sophisticated phone scam targeting taxpayers, including recent immigrants, throughout the country. Victims are told they owe money to the IRS and it must be paid promptly through a pre-loaded debit card or wire transfer. If the victim refuses to cooperate, they are then threatened…