by Tiffany Mellow | Oct 4, 2018 | Personal Accounting, Personal Tax Deductions, Personal Taxes
Every year at tax time, we encounter a variety of situations relating to divorced spouses claiming their children. In prior years, there were various ways used to justify who claimed which child. Sometimes the spouses agreed who claimed who and sometimes they didn’t....
by Tiffany Mellow | Sep 14, 2018 | Business Taxes, Personal Accounting
I met with one of my higher income clients this morning to discuss tax saving ideas. She operates a business out of her home to keep the overhead low. This year her income has increased about 20 percent and it looks like the growth will continue for the foreseeable...
by Tiffany Mellow | Jun 13, 2018 | Personal Accounting
For any divorce decree that becomes final after 12/31/18, the alimony payments will no longer be deductible by the payor or taxed as income to the recipient. This only applies to new divorce decrees. Any alimony arrangement that exists prior to 2019 will be...
by Tiffany Mellow | Jun 6, 2018 | Personal Accounting, Personal Taxes
Many clients I have spoken with since tax season have incorrectly assumed the requirement to have health insurance coverage has been repealed. This is only partially correct. The requirement to carry health insurance on one’s self and every dependent in their...
by Tiffany Mellow | May 2, 2018 | General
Unless you work in this industry or are married to someone who works in this industry, you probably don’t fully appreciate the demands of a “tax season.” The average CPA makes about 67 percent of their annual income during the months of January to April. It is a lot...
