People are generally pretty good at keeping track of things they write a check for but they're a little sloppier with the 5 they put in the collection basket at church or give to the organization on the street. A lot of people also fail to keep track of non-cash donations. They drop things off at Goodwill without making an inventory of what they gave.
More Quotes from Mark Luscombe:
Compared to some other tax issues, like passive loss rules and stuff like that, it's not all that complicated, but people involved in things like passive loss rules can usually afford to pay for some sophisticated help.Mark Luscombe
He's been pretty consistent in wanting to make the cuts permanent.
Mark Luscombe
Because of the AMT, some people are not able to take advantage of the tax cuts that Bush made available.
Mark Luscombe
Congress failed to extend the exemption increase into 2006. I think they still intend to do that, just retroactively.
Mark Luscombe
You don't have a filing requirement because you don't have a tax due. But if you had withholding, you've paid tax. It's worth your while to file a return to get your money back.
Mark Luscombe
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