David J. Mlcak, P. C.

Member AICPA TSCPA TAFTS LCPA
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Your Taxes

 
Tax Planning
 Articles
  General tax planning
   Am I having enough withheld?
   Choosing an income tax filing status
   Help! I can't pay my tax bill
   Income tax planning and 529 plans
   Surviving an audit
   Tax benefits of home ownership
   Tax planning for income
   Tax planning for the self-employed
   Taxation of investments
   Year-end tax planning
  Tax credits and deductions
   Education tax credits
   Personal deduction planning
   Qualifying for the home office deduction
   Understanding personal tax credits
  Taxes and insurance
   Income tax tips: business insurance
   Tax planning for annuities
   Tax planning tips: auto insurance
   Tax planning tips: disability insurance
   Tax planning tips: life insurance
   Tax tips: health insurance
   Tax tips: homeowners insurance
   Tax tips: long-term care insurance
 Decision Tools
  General tax planning
   Accelerating deductions/postponing Income
   Accelerating income/postponing deductions
   Federal individual income tax fundamentals
   Remarriage with children: income tax considerations
  Tax credits and deductions
   Comparison of education tax credits and deductions
   General business tax credits
   Is my home mortgage interest fully deductible?
   Tax credit sampler
 FAQs
  General tax planning
   Am I having enough tax withheld from my paycheck?
   Are my Social Security benefits subject to income tax?
   Are scholarships and grants subject to federal income tax?
   Do I have to file a federal income tax return?
   Do I have to pay U.S. taxes when I work abroad?
   How did the Jobs and Growth Tax Relief Reconciliation Act of 2003 change capital gains tax rates?
   I don't have the cash to pay my taxes. What can I do?
   I have investment property. What does basis mean, and how do I determine the basis of my property?
   I received a state tax refund last year. Must I include that amount as income on my federal return this year?
   My spouse passed away this year. When I file my taxes, what filing status should I claim?
   What is my tax bracket?
   What is the alternative minimum tax?
   What is the basis of property received as a gift?
   What is the kiddie tax?
   What penalties and interest will I be charged for paying and filing my federal income taxes late?
   What's the difference between an "injured spouse" and an "innocent spouse"?
   Will I have to pay tax on my investment income?
  Tax credits
   Can I take the credit for the elderly or disabled?
   Can I take the tax credit for child care?
   Now that my child is in college, am I entitled to any education tax credits?
   What are the Hope credit and the Lifetime Learning credit?
   What is the child tax credit?
   What is the difference between the child tax credit and the child and dependent care tax credit?
   What is the earned income credit and who qualifies for it?
  Tax deductions
   Can I deduct home office expenses?
   Can I deduct premiums paid for long-term care (LTC) insurance?
   Can I deduct the cost of improvements or repairs I've made to my home?
   How do I deduct and substantiate my gambling losses?
   I paid my mother's real estate taxes last year. Can I deduct this on my tax return?
   I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?
   If I prepay next year's taxes this year, can I deduct them this year?
   If I work at home occasionally, am I entitled to a home office deduction?
   Is student loan interest deductible?
   My spouse and I are filing separate returns. Can we both itemize our deductions? If so, how do we split the deductions?
   My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?
   We just bought our first home. What can we deduct from the settlement statement?
  Taxes and child support/alimony
   Are alimony payments considered taxable income?
   What are the tax implications of child support payments?
  Taxes and home ownership
   Can I deduct the cost of improvements or repairs I've made to my home?
   How do I figure the tax on the sale of my home?
   I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?
   I rent my home out for two weeks each year. Do I have to show this rental income on my federal income tax return?
   If I prepay next year's taxes this year, can I deduct them this year?
   My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?
   We just bought our first home. What can we deduct from the settlement statement?
  Taxes and insurance proceeds
   Are life insurance proceeds income taxable?
   I receive disability insurance payments. Are they taxable?