WM. F. Horne | May 2019

30May2019: June 2019 Tax Due Dates

June 2019 Individual Due Dates June 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during May, you are required to report them to your employer on IRS Form 4070 no later than June 10. Your employer is required to

20May2019: Tax Issues Related to Divorce

Article Highlights: Family Court Division of Property Spousal Buyout Debt Filing Status Joint and Several Liability Claiming the Children as Dependents Head of Household Filing Status Higher Education Tuition Credits Child Care Credit Child Tax Credit Earned Income Tax Credit Alimony Child Support Conflict of Interest Divorce is a traumatic event in anyone’s

16May2019: Protecting Yourself from Scams, ID Theft, and Cyber Criminals

Article Highlights: ID Theft What’s in Your Wallet or Purse Phony E-mail Pop-up Ads Only Access Secure Websites Avoid Phishing Scams Security Software Educate Children Passwords Phony Charities Impersonating the IRS Back Up Files If It Is Too Good to Be True As much as the Internet has changed our lives for the

13May2019: Tax Benefits for Members of the Military

Article Highlights: Service Member Residence or Domicile Service Member Spouse’s Residence or Domicile Non-Taxable Allowances Combat Zone Exclusion Home Mortgage Interest Deduction Home Property Tax Deduction Home Sale Gain Exclusion Moving Deduction Death Gratuity Payments Child Credit Earned Income Tax Credit IRA Contributions Reservist’s Travel Expenses Qualified Reservist’s Pension Withdrawals Retired Military Disability Compensation Military

09May2019: The Tax Benefits of Going Green

Article Highlights: Refundable vs. Nonrefundable Credits Home Solar Credit Solar-Power Tax Credit Phaseout Is Solar Worth the Expense? Homeowner vs. Home Resident Solar Additions Leased Solar Systems Plug-in Electric Vehicles Multiple Vehicle Purchases Personal Tax Credits General Business Credits Congress uses tax deductions and tax credits to influence taxpayers’ actions. For instance, it seeks to

06May2019: So, You’ve Made a Mistake on Your Tax Return. What Happens Now?

Generally speaking, tax return mistakes are a lot more common than you probably realize. Taxes are naturally complicated, and the paperwork required to file them properly is often convoluted. This is especially true if you’re filing your taxes yourself — and all of this is in reference to a fairly normal year as far

01May2019: Read This Before Tossing Old Tax Records

Article Highlights: Reasons to Keep Records Statute of Limitations Maintaining Record of Asset Basis If you are a neat-nick and your tax return for last year has been completed and filed, you are probably thinking about getting rid of the tax records related to that return. On the other hand, if you are

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