Magda Abdo-Gomez, Attorney at Law

February 03

Posted By: Magda Abdo-Gomez
Posted In: Retirement , Tax Laws - Changes , Tax Planning
Date: February 3, 2020
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New Tax Law May Affect Your Retirement

On December 20, 2019 the SECURE Act became law. The goal of the new law is to encourage more Americans to begin saving for retirement or to boost already established retirement plans. What does this new tax law mean for you? IRA CONTRIBUTIONS Starting in 2020 individuals may contribute to a traditio...

January 06

Posted By: Magda Abdo-Gomez
Posted In: Tax Planning , Tax Returns
Date: January 6, 2020
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Tips for Tax Season

Welcome to 2020! While it may seem as if April 15 is a long way off, now is the time to start preparing for tax season. Below are some helpful tips which may help filing your tax return less stressful. Gather your records. You should develop a recordkeeping system that keeps all your important infor...

December 02

Posted By: Magda Abdo-Gomez
Posted In: Year End Tax Planning
Date: December 2, 2019
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End of Year Tax Planning

It does not seem that long ago we were ringing in the new year and yet here we are facing the end of another year. This means that April 15, 2020 will be here before you know it. There is still time to plan for tax season, but time is quickly running out. Here are […]...

November 01

Posted By: Magda Abdo-Gomez
Posted In: IRS Scam Alerts
Date: November 1, 2019
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Scam Alert Regarding IRS Liens

As the public has become more aware that phone calls demanding payment of delinquent taxes are a fraudulent scheme, the scammers had to change their game plan. Although it has been used in the past, the IRS has found a resurgence in the scam involving IRS tax liens. In this scam the taxpayer will re...

October 22

Posted By: Magda Abdo-Gomez
Posted In: Dependents , Divorce and Taxes
Date: October 22, 2019
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Tax Issues in a Divorce

Divorce has many legal implications for divorcing spouses. Included in these is the effect a divorce will have on taxes. Although a divorce gives rise to several tax issues I will focus on only two. The first is whether paying or receiving child support affects the divorcing spouses and the second i...

October 01

Posted By: Magda Abdo-Gomez
Posted In: Tax Deductions
Date: October 1, 2019
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Claiming a Home Office Deduction

Technology has changed the way people do business. Devices and connectivity allow us to work without actually having to go into the office. Business owners and employees may have the option to work from home. Taxpayers who work from home may be able to claim a home office deduction and reduce their ...

September 03

Posted By: Magda Abdo-Gomez
Posted In: IRS Scam Alerts
Date: September 3, 2019
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IRS Warns of Latest Scam

In late August the IRS announced that a new scam had been detected which targeted taxpayers and tax professionals throughout the nation. The latest attempt by scammers to divest you of your money involves unsolicited e-mails. The subject line of the e-mail varies, but will say something like “Auto...

August 04

Posted By: Magda Abdo-Gomez
Posted In: Tax Planning - Natural Disasters
Date: August 4, 2019
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Planning for Natural Disasters

It is that time of the year when we become all too familiar with brewing storms and hurricane tracking models. Let us hope that we are once again spared from a hurricane this season. Although hurricanes provide us with the ability to plan, there are other disasters which can occur without much warni...

July 01

Posted By: Magda Abdo-Gomez
Posted In: Tax Laws - Changes , Tax Withholding
Date: July 1, 2019
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IRS Releases Draft of new form W-4

An employer is required to withhold federal income tax from an employee’s wages. The employee is responsible for providing IRS Form W-4 to the employer so that the employer will know how much tax to withhold from the employee’s income. Once provided, the Form W-4 is effective until the employee ...

June 03

Posted By: Magda Abdo-Gomez
Posted In: Tax Planning , Tax Returns
Date: June 3, 2019
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Tax Considerations when Selling your Home

Whether you are planning for retirement and downsizing, or are in the process of upgrading to a larger home, it is important that you take into consideration the tax effect of selling your home. With proper planning it is possible for you to save taxes upon the sale of your home. Despite the many ch...