Archive for April, 2010
Income Tax Gift Tax Rules
April 1st, 2010
Question: What rules govern monetary gifts to adult children?
I would like to give some money to my adult children. I will NOT have a taxable estate at the time of my death, Does gift tax still apply to amounts over $10,000? Does income tax apply?
Answer: You can give more than the minimum as long as you fill out the form for the IRS which credits this amount to your eventual “total estate”..
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Worth’s Income Tax Guide for Minister’s $10.33 … |
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Special Needs Trust Administration Manual: A Guide for Trustees $15.95 2005 Edition The Special Needs Trust Administration Manual is an invaluable guide for anyone who is managing a Special Needs Trust for a person with disabilities. The authors, who are all Massachusetts attorneys, bring many years experience in guiding trustees through the complicated rules of Special Needs Trusts. In clear and easy to understand language, the authors explain how a trustee can use … |
Personal Finance: Prince looking like more of a pauper
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Myth #1: There’s income tax on a gift over 13K
Posted in Income Tax Laws | 
Tags: gift tax, income tax gift tax rules, income-tax, laws, rules, services, tax, tax rules | 
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California Tax Preparer
April 1st, 2010
Question: Tax year 2004: State: California – WHAT IS THE DEADLINE FOR FILING FOR REFUND?
Much as I appreciate the *thoughtfulness* of people who think that “taking a guess” is helpful…who I would really like to hear from here is a Tax Preparer, CPA or Tax Lawyer who knows exactly (unequivocally) what the California Tax Code says about statute of limitations for filing for refunds.
I went through a very long disability. I had taxes withheld via my employer in year 2004 for the short time that I worked. I am certain that I am entitled to a refund. I know that the Fed deadline for claiming a return is 3 yrs from the due date. But what I do not know for sure is the California deadline for claiming refund.
According to a document I downloaded from the CA FTB, if I understand correctly, the deadline is 4 years from the due date of the return, but I want to be sure.
Thank you.
Answer: I know you are asking about California specifically, but the Federal limit is three years (you would lose 2003 after this April 17th) Most states go along with this rule. I don’t know of any that are shorter than the Fed’s. I do have clients in Ca, even though I am in Oklahoma.
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PTINs for all: new IRS regs and proposals pick up speed.(FedTax)(preparer tax identification number ): An article from: California CPA $9.95 This digital document is an article from California CPA, published by California Society of Certified Public Accountants on September 1, 2010. The length of the article is 1068 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: PTINs … |
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Tax preparer’s federal & California reference handbook … |
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Changes … again: putting tax return preparer penalties in perspective.(Preparerpenalties): An article from: California CPA $9.95 This digital document is an article from California CPA, published by California Society of Certified Public Accountants on January 1, 2009. The length of the article is 2249 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Changes … |
Beware of taxes in distressed sales
Q: Last year was really hard. I got laid off, and we ended up short-selling our home. We thought we were fortunate because we didn’t end up with a foreclosure on our record, so we’ll be able to buy another home in two years instead of five.
John Anderson CPA Tax Return Preparation in Laguna Hills