Income Tax in May 2019

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Recent Blogs
  • Typical NYC Tax Attorney Cases

    A NYC tax attorney typically handles a wide variety of cases. From tax fraud to innocent spouse relief, the nature of a tax attorney’s caseload can be extremely diverse. Significantly, and given ... Read more

  • AGI and Allowable Deductions

    When we use the terms “above-the-line” and “below-the-line,” what does the “line” refer to? The answer is simple: the line is the demarcation between your adjusted ... Read more

  • IRS Tax Relief Is Possible For You

    Tax debt can occur for any number of reasons. Certain types of workers, for instance, are more likely to slip into tax debt than others. Those who work as independent contractors are a good example. T ... Read more

  • How Basis Adjustment Works

    Cost basis (or tax basis) is a foundational concept in taxation. The reason behind this is very simple. Basis affects a taxpayer’s gain and therefore affects a person’s overall tax burden. ... Read more

  • Income Tax Terminology

    The income tax is one of the most significant sources of revenue for the federal government. It is also one of the biggest revenue sources for state governments. Here in the State of New York, for ins ... Read more

  • Recent IRS Audit Statistics

    On the whole, the chance of an audit of a person’s personal income tax return in any given year is low. This is true regardless of whether a person’s income is high or low. To be sure, thi ... Read more

  • Stock Option Compensation and You

    In one of our recent posts, we discussed the taxation of stock received as compensation by employees. In that post, we briefly discussed the difference between restricted stock and unrestricted stock. ... Read more