lawyers.com - Untitled 6

Identity Theft Scheme Against Non-Resident Aliens

Identity theft is big news these days, and we all know not to give our Social Security or credit card numbers over the telephone to strangers. But, just as we are beginning to think that we are safe from the identity scammers, the Internal...

Interest Received

The general rule is that any interest a taxpayer receives or that is credited to his or her account is taxable income. Some of the most common examples of fully taxable interest are interest on bank accounts, money market certificates, bonds,...

Long-Term Care Contracts and Expenses

Deductibility

Premiums paid for a qualified long-term care insurance contract are a medical expense, but the deductible amount of the premium is limited by the age of the taxpayer at the end of the tax year. The deductible...

Divorce and Taxes

A divorce impacts more than the structure of a family. It also can have a dramatic effect on the tax liability of both spouses based on choices made and decrees entered during the divorce proceedings.

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Family Partnerships

Under certain circumstances, Congress permits income splitting among numerous family members to avoid higher tax brackets by the use of the "family partnership." If capital is a material income-producing factor in the business, a family member...