Magda Abdo-Gomez, Attorney at Law

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...

May 01

Posted By: Magda Abdo-Gomez
Posted In: IRS Scam Alerts
Date: May 1, 2019
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Tips for Protecting Yourself when Making Charitable Contributions

When disaster strikes we tend to come together and open up our wallets to help the victims. Scammers know this well and use it as an opportunity to take advantage of our generosity. The IRS lists fake charities as one of its “Dirty Dozen” tax scams for 2019. By using the promise of a tax [&helli...

April 01

Posted By: Magda Abdo-Gomez
Posted In: Tax Penalties , Tax Returns , Tax Returns - Filing Deadlines
Date: April 1, 2019
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Tax Filing Deadline is Approaching Beware of Penalties

It seems hard to believe that April is here which means that the tax return filing deadline is fast approaching. This year the last date to file your income tax return is April 15, 2019. It is important that you file your return on time since failure to do so will trigger a late filing […]...

March 02

Posted By: Magda Abdo-Gomez
Posted In: IRS Audits , IRS Collection , IRS Scam Alerts , Taxpayer Rights
Date: March 2, 2019
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Will the IRS come to my home or Business?

In the past I have warned about scammers who impersonate the IRS. I address this issue again because just a few weeks ago a friend called me saying an individual claiming to be from the IRS walked into the office, without prior notice, demanding income tax returns for the business and the business o...

February 04

Posted By: Magda Abdo-Gomez
Posted In: Tax Penalties , Tax Withholding
Date: February 4, 2019
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IRS Waives Estimated Tax Penalty for Certain Taxpayers

The US tax system is pay-as-you-go meaning that taxpayers are required to pay their taxes during the year. Employees satisfy this obligation by having taxes withheld from each paycheck. The self-employed make estimated tax payments four times a year. The law provides for the imposition of an estimat...

January 09

Posted By: Magda Abdo-Gomez
Posted In: Government Shutdown , Tax Returns , Tax Returns - Filing Deadlines
Date: January 9, 2019
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Effect of Government Shutdown on Tax Filing and Tax Refunds

With the government shutdown in effect during the tax filing season, there is a lot of misinformation regarding the filing of income tax returns and the issuance of tax refunds. I thought it was important that you get the right information . Late on January 7 the IRS issued an announcement providing...

January 07

Posted By: Magda Abdo-Gomez
Posted In: IRS Scam Alerts
Date: January 7, 2019
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IRS Warns Employers of Scams Involving W-2s, Direct Deposits and Transfers

A new year is upon us and that means the tax filing season has begun. For those who have employees you know that W-2s must be issued by January 31.The W-2 contains information regarding your employees which is greatly coveted by identity thieves. The IRS is warning small businesses about a new scam ...

December 21

Posted By: Magda Abdo-Gomez
Posted In: Tax Laws - Changes , Tax Returns
Date: December 21, 2018
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The New IRS Form 1040 is Ready in Time for Tax Season

The new 1040 has been approved in time for the upcoming tax season. Forms 1040A and 1040EZ will no longer be available. Click https://www.irs.gov/pub/irs-pdf/f1040.pdf for a view of the new form. Do not be fooled by the”postcard” 1040. You will find that you may also need to fill out t...

December 03

Posted By: Magda Abdo-Gomez
Posted In: Year End Tax Planning
Date: December 3, 2018
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End of Year Tax Planning Tips

The holiday season is under way. Another year is coming to an end and April 15, 2019 is just around the corner. This will be the first time we file returns under the new tax laws. There is still time to plan, but time is quickly running out. Here are some things you can do. […]...

November 01

Posted By: Magda Abdo-Gomez
Posted In: Tax Deductions , Tax Laws - Changes
Date: November 1, 2018
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IRS Issues Guidance on Meal and Entertainment Expenses

My February 2018 newsletter explained that the 2017 Tax Act repealed the entertainment deduction as a business expense. The Act, however, did not change the deductibility of 50% of the cost of meals incurred in a trade or business. For additional details see https://magdaabdogomezlaw.com/entertainme...