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Tax Planning: U.S.

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2017-03-27 Tax Law (Questions About Taxes) - Excess 529 distribution:

Jay,    Thanks for your question.    She does not have to file a tax return, as her income is under the threshold for filing.     I am not an expert on NJ tax, but I assume the same would apply, as state

2017-03-25 Nonprofit Law - Booster Club's 503 (c) (3) concerns:

When parents, instead of a 501(c)(3) organization are engaged in a sales business, that activity is taxable just like any ordinary sales business even though the profits might be going to pay for their

2017-03-22 Nonprofit Law - volunteering:

That is not, under tax law, considered volunteering. What the team's policy is better understood by looking that you are getting benefits for work. That is the definition of taxable employment income.

2017-03-20 Tax Law (Questions About Taxes) - Housing allowance.:

Randy,    Thanks for your question.     If you are ordained, your housing allowance is limited to actual amounts spent for housing or the fair market rental value. It must be designated in advance by n

2017-03-19 Tax Law (Questions About Taxes) - Earned Income Credit:

Jeff,    I wouldn't say it disqualifies her, but one of the due diligence requirements askscif income is sufficient to support her. You would have to answer that with a no, and explain the answer. Could

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