Financial Advice

Increases in Standard Deductions and Personal Exemptions Lead to Savings

For most of us, changes in tax laws are usually very few, and their effects are fairly minor, but there are some.

Lessons to Live By

I was contacted in early December by a woman who hadn't filed tax returns in the last 10 years, and both the Internal Revenue Service and the state of California wanted to know why.

Plan for Your Taxes Now

If you just put a little thought into preparing for tax season now, you may be able to take steps that will put some extra money in your pocket next year.

Living in New York City on a Modest Budget

New York City can be one of the most expensive places in the United States to spend a day, let alone live. You can't avoid spending money when you live in New York, but you can always spend it with prudence.

Intaxication

Obviously, all taxpayers are looking for a refund, and all too frequently they are willing to be creative to get one. Here are some cautionary tales from years of experience.

Don't Be Late

Although we do everything we can to encourage our clients to file their tax returns as early as possible, more than half our business comes in during these last few weeks of tax season.

Getting an Extension

There continues to be the perception that getting an extension allows you to put off both filing your tax return and paying your taxes until the extension deadline of Oct. 15. It's not so.

Your Child's Taxes

Sometimes the rules we explain to parents who have invested in their child's career conflict with what they have heard on the street from other parents.

Those Devilish Deduction Details

You should always consider itemizing your tax deductions, because most actors spend considerable sums on their careers in the course of a year.

Dealing With Receipts

When putting your tax records together, it's important to take your time. It's not a difficult process, but it requires attention to detail to do it properly.