Tag Archives: We Can Help

Medical Expenses

Posted on July 21, 2015 by Camron Hoorfar

If you itemize your deductions for a tax year, then you may be able to deduct your personal medical expenses. The expenses, if deducted, are reported on your Schedule A. Unfortunately, you are only able to deduct the amount of … Continue reading →

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Canceled Debt

Posted on July 17, 2015 by Camron Hoorfar

The cancellation of debt, meaning any debt you are personally responsible for, can be taxable to you. Around the office, we call this “phantom income” or “ghost income” because it is not actually money that you received, but the IRS … Continue reading →

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Social Security

Posted on July 15, 2015 by Camron Hoorfar

  If you, or someone you know, receive Social Security benefits or will receive them soon, here are a few tips for you to remember. First, if your only source of income is Social Security, then your benefits will not … Continue reading →

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Capital Losses

Posted on July 8, 2015 by Camron Hoorfar

While the basics for capital gains apply to capital losses as well, there are a few special rules that apply to capital losses. First, you cannot deduct any losses that you incur as a result of selling your personal-use property. … Continue reading →

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Poor, Disabled Woman Cannot Get Rid of Student Loans in Bankruptcy

Posted on July 1, 2015 by Camron Hoorfar

In a recent bankruptcy court decision, a 45 year old unemployed, disabled woman was not able to get rid of $37,000 in student loans.  The bankruptcy court ultimately decided that she did not make a good enough effort to repay … Continue reading →

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Small Business Retirement Plan Penalty

Posted on June 24, 2015 by Camron Hoorfar

If you are a small business with a retirement plan, here are a few tips you should check out: Plan administrators and sponsors who fail to file the required forms can face up to $15,000 in penalties per return. There … Continue reading →

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Failure to Deposit Payroll Taxes

Posted on June 23, 2015 by Camron Hoorfar

If you are an employer, the IRS requires that you make your payroll tax deposits through the Electronic Federal Tax Payment System (EFTPS).  However, if you fail to use the EFTPS to make the deposits, the IRS will assess a … Continue reading →

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Modifying Child Support for Taxes

Posted on June 18, 2015 by Camron Hoorfar

Missouri law states that a parent cannot attempt to modify the amount of child support that they are supposed to pay because of a change in tax circumstances.  In order to modify a child support order, there must be a … Continue reading →

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Mean Conduct Does Not Equate to Termination of Maintenance

Posted on June 17, 2015 by Camron Hoorfar

When trying to modify or stop your child support or alimony payments, the courts cannot consider the actions of your ex-spouse or your children.  Despite your ex-spouse being mean to you or your children treating you with disrespect, the courts … Continue reading →

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18+ Child Support

Posted on June 16, 2015 by Camron Hoorfar

Missouri statutes state that child support generally ends at age 18.  However, child support can extend longer than age 18 if the child attends college or is handicapped.  If the child attends college, then the obligation to pay child support … Continue reading →

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