Guiding You Through The Legal Process
Georgians who have invested in bitcoin should be aware that they must report any income that they made from selling or trading cryptocurrency on their income tax returns. Some people have the mistaken idea that digital currency is beyond the reach of the Internal...
The tax overhaul passed by Congress in December of 2017 changed little relating to long-term retirement matters. However, one change could have a major impact on Georgia residents hoping to retire soon. Specifically, the tax overhaul eliminates so-called do-overs for...
The changes to federal income taxes passed late in 2017 have left some people in Georgia wondering what to withhold from their paychecks. The Internal Revenue Service has issued new withholding tables, but the agency has not yet had a chance to provide employers with...
Georgia taxpayers have to file their federal income tax returns on time or incur possible penalties, according to the Internal Revenue Code Section 6651. For returns that are mailed, this means making sure that they are mailed on time. The timely filing rule also...
Georgia residents who are the victims of financial abuse at the hands of their partners may be given relief by the IRS. For instance, an individual might apply for innocent spouse relief. If granted, that person will not be held liable for taxes owed on a joint...
Tax planning is something that savvy Georgia residents are aware of year-round, but it becomes especially relevant at the end of the calendar year. For individuals thinking about these issues when the end of the current year approaches, there are a number of things...
The end of the calendar year is generally a time of celebration and cheer for Georgia residents. However, the end of the holiday season usually means the beginning of the tax season. While this may be a busy time for accountants and taxpayers, the IRS has tried to...
Some workers receive severance pay from their employer. It may be as the result of being terminated, being laid off or leaving a position. Regardless of why a person received such pay, the IRS views it as wage income subject to tax. Therefore, that payment may be...
When individuals in Georgia buy and sell real estate or business assets, capital gains taxes could be a costly concern. Solutions could emerge with planning and patience because an Internal Revenue Code Section 1031 exchange or irrevocable trust provides the legal...
Many Georgians own vacation homes and might wonder if they might face tax consequences if they choose to rent them out when they are not using them. It can be smart to recoup some of the expenses that people incur with the maintenance costs, mortgages and property...
