August 16th, 2017
While beauty may be in the eye of the holder, the IRS says it’s not subjective whether expenses to improve or alter your looks are deductible. The rule still applies that you can’t deduct cosmetic surgery or similar items. This means that tattoos, body piercings, and most cosmetic surgeries are not deductible. However, some forms of cosmetic surgery are deductible, if for treatment of a disease or condition. An example would be skin grafts and surgeries for a burn victim.
Regret is not a medical condition, so the removal of that full back tattoo of your first crush is not deductible.
If you are dealing with some tax issues you can contact us by phone at 816-524-4949 or visit our website at www.Hoorfarlaw.com.
Cisco Systems Announces 1,100 Layoffs
July 27th, 2017
Cisco Systems, Inc. has announced that it will be laying off another 1,100 employees due to declining revenue.
If you have declining revenue and need some advice, contact our law office at 816-524-4949 or visit our website at Hoorfarlaw.com.
Floyd Mayweather owes Taxes
July 17th, 2017
The IRS has recently filed a tax lien against Floyd Mayweather for over $22 million. This just proves that no on escapes the tax man, not even celebrities.
If you are in tax trouble and need some help, contact our law office at 816-524-4949 or visit our website at Hoorfarlaw.com.
It’s the End of the World
July 12th, 2017
During the cold war, a forerunner in the preparation movement decided to build himself a nuclear fallout shelter. He then tried to offset the expense with a tax deduction, claiming the cost as a deduction for preventative medicine. The IRS denied his deduction and so far World War 3 hasn’t happened so his attempted foresight didn’t really pan out for him; a lucky break for the rest of the world.
It may not be the end of the world, but having tax issues can feel like it. If you are having trouble with your taxes give us a call at 816-524-4949 or visit our website at www.Hoorfarlaw.com.
July 10th, 2017
Not all family expenses are deductible. One gentleman in New Jersey discovered this when he tried to deduct “a bubble of pure air”. He was fed up with the poor quality of the northern New Jersey air and tried to claim a deduction for enclosing his family in a bubble as a medical expense. The deduction was denied but the revenue agent found the whole situation so silly that they waived all penalties.
If you are having tax issues, give us a call at 816-524-4949 or visit our website at www.Hoorfarlaw.com.
July 6th, 2017
As any parent knows, kids are expensive especially once they can walk, talk, and play sports or other extracurricular activities. To help with these expenses, the government offers the Child and Dependent Care Credit. This credit is up to $1,050 for one qualifying person or $2,100 for two kids. It is important to know that you don’t have to spend money on both kids to get the full credit. so if one kid spends summer with grandma (free!) and the other spends it at that pricey circus camp they have been dying to go to, you may be able to get the full $2,100 credit.
To qualify, the expense must be incurred for a dependent under age 13, or in some limited instances, a disabled person. the care must have been incurred so that you and your spouse (if married) can work or look for work. Lucky for those parents looking to raise the next superstar athlete, sports camps count if those requirements are met.
If you have any questions about the Child and Dependent Care Credit give us a call at 816-524-4949 or visit our website at www.Hoorfarlaw.com.
Home from Colorado
July 5th, 2017
Kansas, like several others, actually imposes a tax on the purchase or possession of a controlled substance within the state of Kansas. When the drug dealer pays the tax, they are given a special stamp to attach to the drugs. the stamps are valid for three months. The stamps can be purchased in advance.
If the dealer is found with any drugs that don’t have a valid stamp, they can be subject to penalties for failing to have a valid stamp. These penalties can include fines, seizure of property, or liens against real estate, and, here’s the real kicker, possession of valid stamps don’t make possession of the drugs legal so the dealer can be prosecuted for possession or sale of the drugs even if they have the proper stamps.
If you are having tax issues you can contact us by phone at 816-524-4949 or visit our website at www.Hoorfarlaw.com.
Three Kansas Citizens Indicted for Tax Fraud
June 12th, 2017
Three adult men from Kansas City were charged with twenty-three (23) counts of tax fraud. According to the charges, the men prepared forty-seven (47) false tax returns in order to obtain tax refunds of $108,621.
If you are in tax trouble and need assistance, contact our law office at 816-524-4949 or visit our website at www.Hoorfarlaw.com.
IRS Accepting Returns that Skip the Obamacare Health Tax
March 13th, 2017
Pursuant to President Trump’s executive order, the IRS will be accepting income tax returns that do not complete the requirement to report your health insurance on your income tax return. However, the IRS has stated that it can, and may, follow-up on income tax returns that leave the information blank.
If you would like assistance filing an income tax return, contact our law office at 816-524-4949 or visit our website at www.hoorfarlaw.com.
Amazon May Be Collecting Taxes Soon
March 8th, 2017
The state of Mississippi is now requiring that any company that sells items through the mail above $250,000 per year will be subject to collecting the state’s sales tax. This means that companies such as Amazon and Quill will be required to collect sales taxes on their sales in the state of Mississippi. While this does not affect Missouri or Kansas just yet, it may soon.
If you are facing tax issues, contact our law office at 816-524-4949 or visit our website at www.hoorfarlaw.com.