Client Resource Center

Practical answers for your questions

31351 Rancho Viejo Rd Ste 105 • San Juan Capistrano, CA 92675
Phone: 949-218-1500 • Fax: 949-218-2525
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Definitions of hard to understand tax and investment terminology and how to use them to your advantage. PLUS answers to common tax questions!


Common Tax Questions

How do I defend Fair Market Value?
Cash or accrual? What's the difference?
Can I deduct fees I pay to care for my child while I work?
Who can I claim as a dependent?
Is disability income taxable?
What tax breaks are available due to a natural disaster?
What if I can't file my tax return on time?
I'm retired. Do I need to file a tax return?
Does my child have to file a tax return?
What is the best filing status?
When are gift taxes due and who pays them?
Can my hobby be considered a business?
Is the sale of my home taxable?
Must I buy a more expensive home to avoid taxes?
Are mortgage refinancing costs deductible?
IRA: Can my child set up an IRA?
IRA: Can I make penalty-free IRA withdrawals?
IRA: Should I convert my traditional IRA into a Roth?
IRA: What if I fail to take my required minimum distribution on time?
IRA: When are withdrawls required?
IRA: Can I invest in anything I want?
Can I itemize deductions this year?
What if I owe more to the IRS than I can pay?
What are IRS penalties if I pay my taxes late?
Why do I need a tax professional when I can buy tax prep software?
Who should own our business building?
What is the best way to assemble records to prepare my tax return?
Are my Social Security benefits taxable?
Do I have to make an estimated tax payment?
What's wrong with getting a big refund?
What is a capital Gain Distribution?
How to Correct an Error on my Tax Return?
Is Bond Interest Taxable?
How Does Adjusted Gross Income Differ from Gross Income?
What to do with a loan to you that has gone bad?
My W-2 is WRONG! What should I do?
Unemployment Benefits: Are They Taxable?
How to keep track of business car expenses?
Is cancelled debt Income?
What is the difference betwee a tax deduction and a tax credit?
Is a Section 529 plan the right college savings plan for you?

Understanding Tax Terms

Understanding Tax Terms: Innocent Spouse Relief
Don't overlook valuable tax credits
The Tax Gap
Tax Credits versus Tax Deductions
Is Being Effective Better Than Being Marginal?
The Kiddie Tax
Wash Sales
Flow-through Entities
Depreciation Recapture
Contemporaneous Records
Adjusted Gross Income (AGI)
Applicable Federal Rates (AFRs)
The Earned Income Tax Credit (EITC)
Education Savings Account: Coverdell ESA
Education Tax Credits
Section 529 College Savings Plan
Head of Household
Health Savings Account (HSA)
Home Office
Interest: In the Eyes of the IRS
Marriage Penalty
Nanny Tax
Passive Activity
Am I Subject to Backup Withholding?
Alernative Minimum Tax (AMT)
Offer in Compromise (OIC)
Understanding Capital Gains Before You Sell
Above-the-line Deductions
Understanding Bartering

Other Topics

Don't let a divorce be more taxing than necessary
Check your credit report - it's free
Large retirement account balances can cause Social Security tax problems
1099-K
Will you qualify for the child tax credit?
The Strength of an Accounting Professional
Thinking of Selling Your Home?
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Questions about your financial situation? Contact us!