Q: How long should I keep tax records? B. Madoff, investor A: In general it’s advisable to save documentation supporting your tax return for seven years. The IRS generally has three years from the date of filing to audit your return, but up to seven if it suspects you under-reported your income. If you didn’t
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I’m aqua-phobic and I always pay my taxes on April 15, unless it’s raining. Wait a month and I ALWAYS receive a penalty notice from the IRS. Why is my CPA screwing up and why haven’t I switched? Your tax return is due April 15, but taxes must be paid throughout the year, whether you are paid
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A few weeks ago I was detailing the perils of self-employment tax to college students. Combined with the other hard costs of living independently it was enough to dissuade anyone from starting a business or even doing serious freelance (“1099″) work.”I need something positive,” said a woman in the front row.I started to panic —
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You have been fighting for years and he is evasive about money. Of course you ARE right — he cannot be trusted. But that does not mean there is a treasure of gold in his beat-up pick-up truck. She did NOT declare those yard sale earnings on her 1992 tax return. Because she under-reported her income, does that
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© 2024 Aaronson Lavoie Streitfeld Diaz
