This handout compares the use of the standard deduction vs. using itemized deductions.

Individual Income TaxClare FazackerleySeptember 17, 2018Tax, Standard Deduction, Itemized Deductions, Medical Expenses, Deduction Limitations, State and Local Taxes

Stock Options - Same Day Sales

This handout provides guidance on the taxation of exercising stock options. Tax reporting of these transactions is covered in details.

Individual Income TaxClare FazackerleySeptember 16, 2018Tax, Stock Options, Qualified Stock Options, Form 8949, Capital Assets

2020 Tax Facts and Figures

This handout provides charts of inflation-adjusted tax provisions, tax rate schedules, and net capital gain tax rates.

Individual Income Tax, 2018Clare FazackerleySeptember 16, 2018Tax, Charts, Tax Provisions, Tax Rates, Capital Gain Tax Rates, Medicare Tax, Standard Deduction, Child Tax Credit, Family Tax Credit, Qualified Dividend, Education, Retirement, Business Expenses, Retirement Plans

Tax Scams - Protect Yourself

This handout contains information on types of tax scams including IRS impersonation scams. Included is guidance on how a taxpayer can protect himself or herself and specific actions to take.

Individual Income TaxClare FazackerleySeptember 15, 2018Tax, Tax Scams, Tax Fraud, IRS Impersonation, Identity Fraud, Identity Protection, Phishing

Taxable Social Security Benefits

This handout explains the calculation of income to determine what amount, if any, of Social Security benefits are taxable. It also provides strategies to prevent Social Security benefits from becoming taxable.

Individual Income Tax, Planning & Life IssuesClare FazackerleySeptember 14, 2018Tax, Social Security, Taxable Benefits, Taxable Social Security, Worksheet, Retirement Income, Retirement Planning

Taxpayers Who Receive an IRS Notice

This handout explains how taxpayers should handle affairs once they have received a notice from the IRS. It also discusses how to avoid future notices and explains what rights the taxpayer has.

Individual Income TaxClare FazackerleySeptember 13, 2018Tax, IRS Notice, IRS Letter, Tax Filing Problems, Tax Filing Issues, Taxpayer Rights

Tipped Employees

This handout provides information on how to report tip income. Recordkeeping requirements are also explained.

Individual Income TaxClare FazackerleySeptember 12, 2018Tax, Tip Income, Tipped Employees, Reporting Tips, Allocated Tips, Service Charges, Server, Waiter, Busser

What Should You Do if You Can't Pay Your Taxes?

This handout explains the options a taxpayer has when he or she cannot pay the taxes due by the due date. Information on requesting an installment agreement is provided.

Individual Income TaxClare FazackerleySeptember 11, 2018Tax, Can't Pay Taxes, Past Due Taxes, Options for Paying Taxes, Installment Agreement, Offer in Compromise, Online Payment Agreement

Withholding - Filling Out Form W-4

This handout provides an explanation of what Form W-4 is and how it is used by employers. Guidance on filling out the form is provided.

Individual Income TaxClare FazackerleySeptember 10, 2018Tax, W-4, Withholding, Marital Status, Personal Allowances, New Job, New Hire Paperwork, Job Change, W4, Form W-4

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