Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
- Taxpayers Find Gift Tax Reporting Confusing
- Gift taxes were created to prevent wealthy taxpayers from transferring their estates to their beneficiaries via gifts and thus avoid estate taxes when they pass away. But that does not mean only wealthy taxpayers need to be concerned with the gift tax provisions as, under many circumstances, even lower-income taxpayers may find they are liable for filing a gift tax return.
- How Long Should You Hold On To Old Tax Records?
- This is a common question: How long must taxpayers keep copies of their tax returns and supporting documents?
- Is an Inheritance Taxable?
- A frequent question is whether inheritances are taxable. This is a frequently misunderstood question related to taxation and can be complicated. When someone passes away, all of their assets will be subject to inheritance taxation, and whatever is left over after paying the inheritance tax passes to the decedent’s beneficiaries.
- Credit for Family and Medical Leave Benefits
- The Tax Cuts and Jobs Act that was passed last year included a new tax credit for employers that allows them to claim a credit based on wages paid to qualifying employees while they are on family and medical leave.
- Got a Letter from the IRS?
- If you have received an IRS envelope from the Internal Revenue Service (IRS) in your mailbox that does not contain a refund check, it will probably cause an increase your heart rate likely increased. But Don’t panic, though; most of the issues in these letters can be dealt with simply and painlessly.
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