Tax Resources
Internal Revenue Service
Visit the IRS website at www.irs.gov to file a simple tax return online, check your refund status, and read about IRS rules and regulations.
California Franchise Tax Board
Visit www.ftb.ca.gov for California income tax forms, calculators, and updates for California’s tax law.
L & S Tax Blog
Visit the L & S Tax blog for updates and information from the Partners at L & S Tax Services.
Tax Court rules “cash for keys” payment is not ordinary income.
/0 Comments/in Blog /by lstaxservices_i8x1k2Cash for keys payments have become fairly common in cases of struggling homeowners facing foreclosure. To avoid a lengthy and expensive foreclosure process, many lenders offer a cash incentive to homeowners to vacate the property quickly and to leave it in good condition. Often these lenders issue a 1099-Misc to the homeowner showing that the […]
Giving Tuesday
/0 Comments/in Blog /by lstaxservices_i8x1k2Let’s see, we just had Thanksgiving, then Black Friday to spend our money at stores, Cyber Monday to spend online, and next comes Giving Tuesday if you still have any money left. Here’s a link from the IRS with some information about tax deductible donations. If you have any questions regarding what gifts are deductible, […]
Energy credits expiring at end of year
/0 Comments/in Blog /by lstaxservices_i8x1k2Most of the energy credits existing under current federal law expire at the end of 2016. Solar energy credits have been extended but a variety of credits for energy efficient windows, doors, A/C systems etc expire on December 31st. For anyone still wishing to take advantage of these credits, the items need to be installed […]