Ken Berry, JD

Taxes May 24, 2024 

The taxpayer failed to report any of the $700,000 payment as taxable income on his return. So the IRS stepped in and the case ended up in the Tax Court.

Ken Berry, JD

Payroll April 22, 2024 

Under the trust fund recovery penalty (TFRP), a “responsible person” may be held personally liable for the full amount of an employer’s unpaid employment taxes.

Ken Berry, JD

Taxes March 28, 2024 

Note that a QDRO may be used for qualified plans, like 401(k) or pension plans, but this option isn’t available for IRAs. IRAs are subject to other rules.

JD, Ken Berry, JD

Taxes March 18, 2024 

The nation’s lawmakers may allow these provisions to expire as written into the TCJA, extend them indefinitely, for a period of time or even permanently, or otherwise modify them.

Ken Berry, JD

Taxes March 8, 2024 

The Tax Blotter is a summary of recent tax news, rulings and legislation.

Ken Berry, JD

Taxes February 19, 2024 

The Tax Blotter is a round-up of recent tax issues and Tax Court rulings.

Ken Berry, JD

Taxes February 1, 2024 

If the rental period lasts 14 days or less—in other words no more than two weeks—you don’t have to report any of the taxable income to the IRS On the other side of the coin, the rental expenses aren’t tax-deductible, either.

Ken Berry, JD

Income Tax January 15, 2024 

The Tax Blotter is a round-up of brief news items relating to tax preparation, policy and legislation.

Ken Berry, JD

Taxes January 12, 2024 

A special needs trust is an irrevocable trust that supplements public assistance benefits available to a disabled child. Assets and income can be used to pay for items like travel, education, recreation, rehabilitation and medical expenses that aren’t covered by public assistance.

Ken Berry, JD

Taxes January 2, 2024 

Not everyone who was entitled to an EIP was able to collect the full amount they were owed. Either they didn’t receive the correct amount or they didn’t get a payment at all.

Ken Berry, JD

Tax Planning December 29, 2023 

Depending on your situation, you might elect to forgo preferential tax treatment on certain long-term capital gains and qualified dividends in favor of deducting investment interest expenses.

Ken Berry, JD

Taxes December 28, 2023 

Under the “ordering rules” established under IRS regulations, most of the payout of a nonqualified Roth distribution may be tax-free anyway—maybe even all of it.

Ken Berry, JD