Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
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- Using the Home Sale Gain Exclusion for More than Just Your Home
- With careful planning, and provided the rules are followed, the tax code allows the home sale gain exclusion every two years.
- Home Mortgage Interest and Unmarried Couples
- It is becoming increasingly common for couples to live together and remain unmarried, which can lead to potential tax problems when they share the expenses of a home but only one of them is liable for the debt on that home.
- Safe-Harbor Home Office Deduction Is It Better For You?
- Taxpayers can elect to take a simplified deduction for the business use of the taxpayer's home. The deduction is $5 per square foot, with a maximum square footage of 300. Thus, the maximum deduction is $1,500 per year. Here are the details of this simplified method:
- Tips for Taxpayers Starting a New Business
- Anyone starting a new business should be aware of his or her federal tax responsibilities. Here are several things you should know if you plan on opening a new business this year.
- How Long Are You on the Hook for a Tax Assessment?
- A frequent question from taxpayers is: how long does the IRS have to question and assess additional tax on my tax returns? For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them. This period is termed the statute of limitations. But wait – as in all things taxes, it is not that clean cut. Here are some complications:
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