Frequently Asked Tax Questions! Q: We have been living together for a while. We bicker, are not married. How should we file?A: Grace and Frankie, interesting question! Only a handful of states, including Rhode Island, still recognize some form of common-law marriage. Thus, if you meet the state requirements you can file a joint return for Rhode Island AND the IRS.
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Hello Rich,Happy New Year! Tax season is upon us — okay, ME. Here are some brief suggestions, reminders and cautions. My aspiration for 2020 — not to give up, on my community, country, planet. Best wishes — Rich Not Every Meal Is Deductible! Not every meal or beverage you take in during business hours is deductible. If
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SUN-SET! Thinking about going solar? The current, lucrative 30% Federal tax credit will decrease to 26% in 2020 and then to 22% for units “put into service” during 2021. Then ZERO for residential units, and a reduced rate for commercial properties for a couple of years. Even with the credit, it can be an expensive —
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HIDDEN CREDIT! Almost forgotten in the new tax law is an expansion of the Child Tax Credit beyond age 17. Now,you may be eligible for a (nonrefundable) $500 credit for certain dependents who you claim on your tax return. Specifically, any child who meets the dependency tests is eligible if under age 19 or if
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© 2024 Aaronson Lavoie Streitfeld Diaz
