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…
It’s not news that most people complain about having to pay taxes. New Yorkers seem to especially complain about their state and local tax burden. The Tax Foundation, with a database that currently covers the years 1977-2012, interprets the tax…
Section 61 of the Tax Code states that “except as otherwise provided in this subtitle gross income means all income from whatever source derived”. Thus, the federal tax law requires taxpayers to pay income taxes on earnings, commissions, rents, royalties,…
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