Individual Tax | Cg

17 Sep

Coronavirus Tax Filing & Payment, Individual Tax

Tax Implications of Working From Home and Collecting Unemployment

Posted by cgadmin
September 16, 2020

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations. 1. Working from home. Many employees have been told not to come...

10 Sep

Individual Tax

Homebuyers: Can You Deduct Seller-Paid Points?

Posted by cgadmin
September 9, 2020

Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide, compared with last year. One of the reasons is the pandemic: “With the sizable...

02 Sep

Helpful COVID-19 Links, Individual Tax

Back-to-School Tax Breaks on the Books

Posted by cgadmin
September 2, 2020

Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. In any event, parents may be eligible for certain tax breaks to help defray...

27 Aug

Individual Tax

Will You Have to Pay Tax on Your Social Security Benefits?

Posted by cgadmin
August 26, 2020

If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will you have to pay? It depends on your other income....

20 Aug

Individual Tax

What Happens if an Individual Can’t Pay Taxes?

Posted by cgadmin
August 19, 2020

While you probably don’t have any problems paying your tax bills, you may wonder: What happens in the event you (or someone you know) can’t pay taxes on time? Here’s a look at the...

13 Aug

Coronavirus Tax Filing & Payment, Individual Tax

More Parents May Owe “Nanny Tax” This Year, Due to COVID-19

Posted by cgadmin
August 11, 2020

In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal “nanny tax” obligations. Keep in mind that the nanny...

30 Jul

Individual Tax

Are Scholarships Tax-Free or Taxable?

Posted by cgadmin
July 29, 2020

COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and some parents will be facing tuition bills....

22 Jul

Individual Tax

Take Advantage of a “Stepped-Up Basis” When You Inherit Property

Posted by cgadmin
July 22, 2020

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Fair market value rules Under the fair market value basis rules (also known as...

16 Jul

Individual Tax

Conduct a “Paycheck Checkup” to Make Sure Your Withholding is Adequate

Posted by cgadmin
July 15, 2020

Did you recently file your federal tax return and were surprised to find you owed money? You might want to change your withholding so that this doesn’t happen next year. You might even want...

08 Jul

Individual Tax

After You File Your Tax Return: 3 Issues to Consider

Posted by cgadmin
July 8, 2020

The tax filing deadline for 2019 tax returns has been extended until July 15 this year, due to the COVID-19 pandemic. After your 2019 tax return has been successfully filed with the IRS, there...

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