
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…
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…
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…
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…
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…