Income Exclusions Archives - Page 3 of 5 - FREE Yourself from IRS Problems

Shamsey Oloko January 17, 2017 Deductions, Income, Income Exclusions, Income Tax, Profits & Losses, Taxable Gain, Taxable Income, THORGOOD Law Firm 0

The (Trump’s) Net Operating Loss (NOL), Explained

At the beginning of October, the New York Times released pages from Donald Trump’s Connecticut, New Jersey and New York 1995 tax returns, apparently reflecting that the Donald declared “other income” of negative $916 million and was prepared to forego…

Shamsey Oloko September 22, 2016 Business Expenses, Business Tax Credits, Deductions, Income Exclusions, Qualified Education Expenses, Tax Credit 0

Finally! Congress Enacts Tax Extends Part 5

The Consolidated Appropriations Act of 2016, enacted Dec. 18, 2015, extends a long list of expired tax provisions into the future. Unlike past extension legislation, Congress extended many provisions permanently. In more traditional fashion, some of the others were extended…

Shamsey Oloko June 22, 2016 Capital Gains, Capital Losses, Death Benefits, Expenses Deductions, Filing Status, Gains & Losses, Home-Related Deductions, Income Exclusions, Income Tax, Interest Income, IRA, Medical Expenses, New York Estate Tax, Roth IRA, Roth Thrift Savings Plan, Social Security Benefits, Standard Deductions, Tax Credit, Taxable Gain 0

Tax Issues for new Widows and Widowers

It’s a traumatic experience to lose a spouse. While there is little that can be done to replace this physical and emotional loss, the Tax Code provides some relief for newly widowed taxpayers. Here is a summary of some of…