Barry Dolowich

Answer : Through its computers, the IRS matches the information it receives from third parties to the information you report on your tax returns. You should be extra careful to ...

I recommend that you do not be lazy and go through the effort of compiling your itemized deductions. Your efforts may be greatly rewarded!

In an effort to provide an incentive for low-income individuals to contribute to their retirement plans, Congress passed the Retirement Savings Contribution Credit (Fo ...

The Housing Act closed a loophole by requiring homeowners to pay taxes on gains made from the sale of a second home to reflect the portion of time the home was not used as a principal residence.

Answer: Gains from exchanges of property are generally recognized for tax purposes, as are gains from sales of property. However, some ...

If your business is a “high volume” type business you need to evaluate whether the LLC tax structure works for you. You may want to consider the S corporation entity as an alternative to achieving …

Like most of the Internal Revenue Code, the rules, regulations and calculations required to arrive at the taxable portion of your benefits can be quite cumbersome.

Before donating your car, I recommend that you analyze the economics of the contribution versus the cash received if you sold the car.

If the property is rented for fewer than 15 days during the year, no deductions attributable to such rental (commissions, utilities, repairs, etc.) are allowable and no rental income is includible …

Answer: Just the thought of opening a letter from the IRS is enough to make your stomach do cartwheels. If that letter has ...