Ask Tax Questions
Thomas Rex, CPATax Professional Level: Tax Enthusiast
The answer is that it depends. Generally the IRS has a 3 year statute of limitations to make changes to a return. That time is increased to 6 years if there is income omitted from your return greater than 25% of... Read More
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Debra ThompsonTax Professional Level: Tax Enthusiast
The due date for filing your Arkansas Individual Income Tax return is April 15. If April 15 falls on a weekend or a holiday, your return is due on the next business day. If you file a federal or State of Arkansas... Read More
Caran Ebert, CPATax Professional Level: Tax Enthusiast
I have a lot of stocks. H&R block is expensive for how many forms I do, so I'd like to try another avenue. What options do I have here in CA? Here is the truth about hiring someone to do your tax return. There... Read More
Peter J. ScaliseTax Professional Level: Master Tax Advisor
Yes, most states currently offer Movie and Television Production Tax Incentives (hereinafter “MPIs”). MPIs are tax benefits offered on a state-by-state basis throughout the United States to entice, as... Read More
Peter J. ScaliseTax Professional Level: Master Tax Advisor
Yes, a Real Estate Investment Trust (hereinafter "REIT") can potentially benefit from a cost segregation analysis. I would wholeheartedly recommend scoping the cost segregation opportunities on a property by... Read More
Peter J. ScaliseTax Professional Level: Master Tax Advisor
There are many noteworthy differences between the scope and application of a Cost Segregation analysis and a Construction Tax Planning analysis. The scope of a Cost Segregation analysis will methodically review... Read More
Debra ThompsonTax Professional Level: Tax Enthusiast
The tax code provides a variety of tax incentives for families who are paying higher education costs or are repaying student loans. You may be able to claim an American Opportunity Credit or Lifetime Learning... Read More
Debra ThompsonTax Professional Level: Tax Enthusiast
The taxpayer may use business standard mileage rate in computing the deductible costs for business purposes. This rate for 2016 is $0.54 per mile for travel. If this method is used then the depreciation, actual... Read More
Thomas Rex, CPATax Professional Level: Tax Enthusiast
I would ask your local University Law clinic about what options you have. Read More
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