Max's Taxes

What Can a CPA Do that a Regular Accountant Can’t?

What can a CPA do that a regular accountant can’t? That’s what we’d like to address today.

10 Common Tax Mistakes that Cost You Money [Infographic]

Five guys committed a $13 million tax fraud. Here’s how much prison time they’ll do

Miami-Dade residents Jamal Dyer, Jorge Osorio-Rodriguez, Tramaine Sealy, Jonathan Edwards and Daniel Murias each have been sentenced to do federal prison time after pleading guilty to a $13 million tax fraud

10 Questions To Ask Your CPA

If you are hiring an accounting or tax and business firm, it should go without saying that you have a CPA involved in looking over all of the work. However, not all accounting firms are created e…

Is Hiring a CPA Worth it? 5 Tips for Getting Your Money’s Worth

Often when people find out I’m a tax accountant, I get asked, “How much does a CPA cost?” It’s like me asking “How much does a home cost?” We all understand that a 1,000 square-foot home in Kansas has a different cost than a 1,000 square-foot penthouse condo in New...

7 Bookkeeping Habits Every Entrepreneur Should Adopt

Good bookkeeping is a foundational aspect of a healthy business. Keeping careful track of the money within your business is critical to its success.

Divorce and Taxes Who Claims the Kids on Your Tax Return

Going through a divorce can be challenging, especially if children are involved. Make sure you understand the various tax laws regarding your particular situation. Be aware of the ramifications and tax credits available to you.

Tax Breaks Cost All of us (A Whole Lot!)

Read here: #10: Taxing Wages Like Capital Gains The government has to pay its bills. So every time someone else uses a loophole to pay less taxes, you pay more. That doesn’t mean every tax break is bad. Some benefit many people, like child tax credits or the mortgage interest deductions. Whether or not those …

My mom added us to her deed and then died. Do we owe taxes?

You may received a step-up in basis when you inherit a home.

Is there a gift tax if I sell my car for $1?

New Jersey doesn't have a gift tax, but the feds do.

Paying taxes: How state, local taxes differ across the US, ranked by state

The typical American pays state and local taxes of about 9.8% of their estimated annual income. Some states such as Alaska have no state income tax.

What Home Improvements Increase Property Taxes?

Home improvement projects could increase your property taxes, especially if they require a permit. But it varies by location and project. See the details.

5 Home Upgrades That Could Help You Save During Tax Season

Home upgrades are expensive, but you could earn back some of that cash when tax season rolls around. Whether you made upgrades last year or are planning some for 2016, keep these expert suggestions in mind (and talk to your tax advisor for personalized advice).

Do I have to pay taxes on my disability income?

Taxation will depend on the source of the disability income.

Who gets to claim child on taxes?

Custody agreement says other parent is residential parent however I have had more over nights in the year and make more money. The tax part of the custody agreement says the right to claim dependent status of the child will be controlled by 26 USC 152. 1. Does residential mean custodial? 2. Do I have the right to claim if I have had the child more? We have joint 50/50 custody.

Are Scholarships Taxable Income?

Are scholarships taxable income? It depends on how you receive scholarship money, and how you use it. Here are 4 times when scholarships are taxable.

Homeowners over 65 can often get property tax exemptions

California homeowners 65 and older should check their property tax bills and make sure they are getting any senior exemptions on school parcel taxes to which they are entitled. To win voter approval for school parcel taxes, many K-12 districts offer exemptions to people 65 and older. Seniors, low-income homeowners and those with disabilities should look at their property tax bill and call the phone numbers…