Magda Abdo-Gomez, Attorney at Law

March 03

Posted By: Magda Abdo-Gomez
Posted In: Tax Returns
Date: March 3, 2025
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Top Tips to Make Tax Return Filing Easier

We are but six weeks away from the tax return filing deadline. Below are six IRS approved tips to make filing your 2024 tax return easier: Gather your information: Locate all documents and information needed to prepare your return. Necessary documents include W-2s, 1099s, 1098s, 1095-A, digital asse...

February 03

Posted By: Magda Abdo-Gomez
Posted In: Tax Laws - Changes
Date: February 3, 2025
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IRS Announces Changes for 2025 Filing Season

Last year the IRS announced the creation of a task force to combat scams aimed at defrauding taxpayers. See: https://magdaabdogomezlaw.com/irss-efforts-to-combat-tax-scams/ Two weeks ago the IRS and the task force announced changes for the 2025 tax filing season. The goal of the changes is to help p...

December 31

Posted By: Magda Abdo-Gomez
Posted In: Businesses , IRS News
Date: December 31, 2024
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The Corporate Transparency Act: To File or not to File

In my newsletter of October 2023, I informed you of the Corporate Transparency Act and its requirement that corporations, limited liability companies and other entities created or registered to do business in the United States, with limited exceptions, report information about the beneficial owners ...

December 02

Posted By: Magda Abdo-Gomez
Posted In: Tax Planning
Date: December 2, 2024
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Year End Tax Planning Tips

The holiday season is underway and 2024 is winding down. Tax season is only a month away. There is still time to take steps to reduce your tax liability and to ensure your return is accurate. An accurate return avoids delays in processing which can slow down refunds. Now is the time to act. Gather [...

November 01

Posted By: Magda Abdo-Gomez
Posted In: Tax Credits
Date: November 1, 2024
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Education Tax Credits

The Internal Revenue Code provides two education credits to offset the costs of higher education. The first is the American Opportunity Tax Credit and the second is the Lifetime Learning Credit. With tax season just around the corner, it might be a good idea to determine whether you will qualify for...

October 01

Posted By: Magda Abdo-Gomez
Posted In: Tax Planning , Tax Withholding
Date: October 1, 2024
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Time for a Tax Check Up

The fall season is officially here. Tax season will be here before you know it. This is the perfect time to review your tax withholding and/or payments to make sure you do not owe taxes when you file your return next April. Taxpayers who are especially vulnerable to owing taxes at the time of filing...

September 03

Posted By: Magda Abdo-Gomez
Posted In: IRS News , IRS Scam Alerts
Date: September 3, 2024
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IRS’s Efforts to Combat Tax Scams

If it seems as if every few months my newsletter deals with the IRS’s announcement of a new tax scam, you would be correct. The IRS reports that this past tax season there was an increase in activity involving tax scams aimed at defrauding taxpayers and in efforts to discover gaps in government an...

August 08

Posted By: Magda Abdo-Gomez
Posted In: Businesses , Hobbies
Date: August 8, 2024
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Hobbies and Businesses: What you need to know

From wine making to collecting trading cards, many taxpayers have activities they are involved in. If the activity generates income, is the activity considered a business? Is the income taxable? Are expenses incurred in carrying on the activity deductible? The answer to these questions and their tax...

July 01

Posted By: Magda Abdo-Gomez
Posted In: IRS Scam Alerts
Date: July 1, 2024
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IRS Issues Taxpayer Alert Regarding Tax Scams

Although the IRS has issued numerous warnings to taxpayers regarding tax scams involving tax credits and inaccurate tax advice posted on social media, thousands of taxpayers filed tax returns this tax season claiming inflated tax refunds. The IRS has issued a warning that taxpayers who have claimed ...

June 03

Posted By: Magda Abdo-Gomez
Posted In: Tax Planning - Natural Disasters
Date: June 3, 2024
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Disaster Preparation Tips

Hurricane season is here once again. However, disasters include not just hurricanes. Disasters can be natural or man-made events and can happen at any time. It is important that you take steps to protect important tax and financial information. Now is the perfect time to review your disaster emerg...