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April 2015 Archives

Interesting tax questions stemming from Mayweather / Pacquiao

Depending on who you ask, the hype machine has definitely shifted into overdrive with the most anticipated fight in years closing in. For many sports fans, Saturday is nirvana, with the NFL Draft, the Kentucky Derby and the NBA Playoffs all happening on one day.

Can I eliminate tax debt through bankruptcy?

For many people, happiness is April 16 of each year. This date signifies the end of a stressful period of their lives since it is also the day after the federal income tax filing deadline. For those who have already filed their taxes (and are poised to get a refund), congratulations; you don’t have to worry about taxes and the Internal Revenue Service for another year.

Tax payment options that can ease your stress level

It’s no secret that the federal income tax filing deadline (April 15) can be a very stressful day for those who have not filed their returns. Some see it as a sign of the apocalypse (a financial one, that is) while others may prefer a root canal if offered in exchange for doing their taxes. Regardless, the stress over potentially owing money, while not having it, can be overwhelming. According to the Gallup Healthways Wellbeing Index, the tax filing deadline day is the second most stressful day of the year; second only to a day with deadly tornadoes.

How donations can reduce your taxable income

In our last post, we highlighted how you could stave off pesky penalties and interest in the event you are not able to pay your tax bill when it comes due. However, consumers want to avoid paying taxes; and the way to do so is to reduce one’s taxable income. Indeed, there are many exemptions and deductions to take advantage of. With this post, we will focus on deductions.

What are my options if I cannot pay my taxes when they are due?

If you thought the “Ides of March” was a time to be worried about your finances, keep in mind that the federal income tax filing deadline is April 15th; essentially the “Ides of April.” The tax filing deadline can bring out the worst fears in people; especially those who have a good idea that they will owe the federal government, but will be unable to pay their tax bill in one payment. Perhaps they are struggling to pay rent, or have had a difficult year as a self-employed person and are just getting back on their feet.

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Law Offices of Robert T. Leonard, APC

Woodland Hills Office
21700 Oxnard Street
Suite 2060
Woodland Hills, CA 91367

Toll Free: 888-408-9486
Phone: 818-224-7935
Fax: 818-587-3833
Woodland Hills Tax Law Office

Los Angeles Office
10100 Santa Monica Blvd.
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Los Angeles, CA 90067

Toll Free: 888-408-9486
Phone: 818-224-7935
Fax: 818-587-3833
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