Income Taxes

The gains generated by the sale of a primary residence can be significant, but this income is not subject to federal income tax in many situations. Georgia residents may qualify for this exclusion by establishing ownership and use. This is done by establishing that...

Georgia residents sometimes enter into tax-sharing agreements through which two parties agree to be responsible for paying a certain percentage of the tax liabilities owed. These types of agreements or orders are common in divorce cases. As a 2017 case demonstrates,...

Georgia residents who need more time to file their taxes may ask for an extension. This means that those who ask for an extension on their 2017 personal tax returns won't have to file until Oct. 16. One of the best reasons to ask for an extension is to cut down on...

Georgia residents may have heard about income tax identity theft. The act involves a criminal stealing a person's social security number and using it to file a fraudulent return. The criminal's goal is to trick the IRS into sending a refund based on that fraudulent...

Death and taxes are the two constants everyone must face, but that does not mean there is nothing you can do to make both more comfortable. As a tax-paying citizen, you have the right to do what you can to lower your taxes and minimize your obligations. Many Americans...

Georgia residents who have had all or part of their debt canceled by a lender normally have to report the amount as taxable income. However, for mortgage debt that has been canceled, homeowners may be able to take advantage of a tax exclusion. If the canceled debt was...

As the owner of a small business, tax season is not likely to be your favorite time of year. Not only is it a complicated process to file your individual taxes, but now you must ensure that your business taxes meet federal guidelines and that you avoid an audit...

Georgia residents may be in the habit of filing a tax return each year. However, depending on an individual's filing status and income, that may not be necessary. Typically, people don't have to file if their income is less than the standard deduction and personal...

In some cases, Georgia residents may want to give loved ones money for their IRAs. They may be concerned that doing so will be a taxable event, however. As long as the amount that is given is under the annual federal gift tax exclusion amount, people do not need to...

Many Georgia residents have likely heard about the sexual harassment lawsuit that was filed against former Fox News Chairman and CEO Roger Ailes. Gretchen Carlson, a former Fox News anchor, brought sexual harassment allegations against Ailes that quickly became very...