Barry Dolowich

If you borrow money (credit card debt is borrowed money) from a commercial lender and the lender later cancels or forgives the debt, you may have to include the canceled amount as income for tax pu…

There is a limited exception to the passive activity loss rules for rental real estate in which the taxpayer actively participates.

Question: I just began a job as a bartender for a busy hotel bar and my manager told me that if I do not report my tips, he will be forced to allocate

Question: I have a bet going with my wife. She says that non-cash game show and church raffle winnings are taxable, and I say, “no way.” Who is right?

Effective April 1, 2021, Proposition 19 allows homeowners who are age 55 or older, or severely and permanently disabled of any age, to transfer the “taxable value” of their principal residence to a…

The following is a sample of 2024 tax saving and deferral strategies available to you by acting prior to Dec. 31:

Question: I have been in business for four years operating as a sole proprietorship filing on Schedule C of Form 1040. I have been debating switching to an S corporation.

Bookkeepers are generally people we tend to trust, people we have to trust. Over my many years of practice, I have heard numerous stories involving theft and they almost all have one common theme: …

Pretend you are looking down from above, instructing and educating your spouse as to all your financial duties.

Question : I recently purchased a new airplane and had to pay $22,000 in sales tax. Will I be able to deduct the sales tax on my individual income tax return as a federal itemized deduction?