Martin Nissenbaum
Martin Nissenbaum
expect kids pay people taxes
People don't expect it. The presumption is that when you pay taxes that are deductible you won't have to pay tax again. Just having a lot of kids can put you into the AMT.
expect kids pay people taxes
People don't expect it, ... The presumption is that when you pay taxes that are deductible you won't have to pay tax again. Just having a lot of kids can put you into the AMT.
income intangible tax
In Florida, there is no income tax but there is an intangible tax, so they will be able to deduct both.
avoid figure fill interest plus saying send
They'll be able to figure it out and they'll send you a bill, plus interest and potentially a penalty. You can't avoid AMT by saying you won't fill out the form.
agent
Everything you say can give the agent an idea about something.
expenses people realize win
People don't realize that if they win they can actually take a deduction for expenses they incurred or if they had losses.
good obviously
That obviously is not a good thing to do.
based dividends fund holding mutual qualified received work
You need to work through which of the qualified dividends you received from a mutual fund are actually qualified based on the holding period.
advantage losses major tend trade traders
But because traders tend to trade so frequently, those aren't major disadvantages, ... And the advantage of being able to deduct all of your losses is very attractive.
benefit extra federal high situation state
It probably doesn't make sense to postpone making the extra deductions because even in a high state-tax situation the federal benefit still outweighs the state cost.
It's always a better idea to fess up with the IRS.
congress money people slam
Congress wised up to that. They weren't going to let people slam money into those
clients
When we have clients come with us, we say 'Don't say anything'.
age age-and-aging careful clearly condition sure
Be careful to make sure the condition and age of the car are clearly documented,