The Making of a Movie
We are connected to films in different ways. My journey started in 2004 when I took my first film production class. It took many years of hits and misses before
Parveen Maheshwari
Common Tax Questions
Q If I buy a rental property now, can I deduct rental losses? A Passive activity loss rules were designed to curb abuse of perceived tax shelters. Rental activi
Individual Tax Credits
The 2010 Tax Relief Act extended, for year 2010 and 2011, the provision that allows nonrefundable credits to be allowed against alternative minimum tax. Some of
2010 Tax Updates
On December 17, 2010 President Obama signed into law the 2010 Tax Relief Act. Here are the highlights: Capital Gains & Dividends: Qualified capital gains an
Tax Filing Issues
Filing Date: For electronically filed returns, the date of an electronic postmark given by authorized return transmitter is the deemed filing date. On page 2 of
Individual Tax Updates
IRA Contribution Limits: 2009 IRA contribution amount is $5,000 with catch up provision of $1,000 for an individual age 50 or older. Allowable contributions to
Tax Updates
Business Tax Updates: Penalty Increase: The penalty for failure to file federal partnership or S corporation returns is increased to $195 per partner or shareho
Individual Tax Incentives
The American Recovery and Reinvestment Act of 2009 has the following provisions. “Making Work Pay” Credit This is a new but temporary refundable credit for
Tax Audits
Mortgage Interest Audits As many individuals are not complying with the mortgage interest deduction rules, there has been an increase in audits in this area. Qu
Important New Acts
Restaurants Property & Leasehold Improvements The Emergency Economic Stabilization Act extends 15-year depreciation on qualifying restaurant property and le
Year-End Tax Planning
Traditional year-end tax planning usually involves evaluation of income shifting to the next year and accelerating deductions if you have cash-based business. C
Tax and Debt Relief
On December 20, 2007, George W. Bush signed into law the Mortgage Forgiveness Debt Relief Act of 2007. Below is an outline of major provisions of the Act. Disch
