Gambling, Wins and Losses What happens in Vegas, stays in Vegas. Unfortunately, the IRS tends to disagree with that sentiment, especially when it comes to your taxes. Whether you are a consistent gambler or your winnings (or losses) are the…
Tag: Record keeping
Record Keeping and Tax Preparedness
This is a question we get all the time–what should you keep on record, and how long should you keep them? As tax filing season winds up, the IRS (as well as Gagliano Associates) offers some words of advice about…
Tagged with: past tax returns, previous tax returns, Record keeping, Records, secure storage, storage, tax records, tax returns, transcripts
It’s tax season. Do you know where your mail is?
During the holiday season a missed or stolen package can be aggravating, which is doubtless why you eagerly watched for deliveries all December, calling the nanosecond you suspected a problem. Unfortunately, many employers don’t send tracking numbers when the packet…
7 big tax changes in 2015
As 2014 draws to a close, it’s nearly time for the annual deluge of tax forms – including 1098’s reporting mortgage interest or W-2’s from employers reporting your annual wages. But while gathering documents for the past year’s taxes is…
Basic Tax Tips about Hobbies
Millions of people enjoy hobbies that are also a source of income. Some examples include stamp and coin collecting, craft making, and horsemanship. You must report on your tax return the income you earn from a hobby. The rules for…
Tagged with: business, business deductions, deduct, deductions, hobby, hobby loss rules, news, publication 535, Record keeping, tax, taxes
Can I write off my moving expenses? Good Question!
If you moved to start a new job, or to seek work in a new city, you may be able to deduct the cost of your moving expenses from your income. Qualifying expenses include costs for packing and shipping your…
Keeping good records could = more refunds for you!!
Martha Gagliano started their tax preparation business in 1987 and recently retired. I asked her to write a blog for you. Do you like to get a refund?? The best way is to keep good records. Businesses: save and catalog all…
Tagged with: blog, deduct, deductions, document, documents, donations, file cabinet, filing, Gagliano, Martha Gagliano, medical deductions, Record keeping, Records, tax, taxes
