DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...
Mike's weekly post usually concentrated on tax saving strategies.

Getting summer help? Classify properly

Getting summer help? Classify properly

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Don't Run Afoul of the IRS's "Nanny Tax"

The IRS is more strictly enforcing rules that determine whether a worker is actually your employee, rather than an independent contractor. Beware: you have many extra tax responsibilities and expenses if you are an employer in the eyes of the IRS.

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A new twist on an old taxpayer scam

A new twist on an old taxpayer scam

Scammers have come up with a new way to steal personal and financial information from non-resident aliens and international taxpayers.

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Are you a seasonal worker? Check your withholding!

Are you a seasonal worker? Check your withholding!

Even if you only work during the summer and fall, you still need to check your tax withholding for 2018.
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Understanding Tax Terms: Contemporaneous Records - Why should you care?

If you have problems getting to sleep at night and you turn to the IRS tax code for help, you might find some vocabulary that is very foreign to you. One of the more uncommon words used by the IRS is the term "contemporaneous." So what does it mean and why should you care?

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Don't forget your midyear tax-planning

Don't forget your midyear tax-planning

Can you believe 2018 is already half over? If you haven't thought about your 2018 tax situation yet, it's time to do so.

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Alimony Tax Changes Require Planning: Law change to have dramatic tax impact in 2019 and beyond

The taxation of alimony will change drastically starting in 2019. Here’s what you need to know:

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Summer's a time for vacations and tax planning

Don't let the warm weather go straight to your head. Make a point to review your tax plan and make effective changes while you still can this year.

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Reminder: Second Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment

If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The second quarter due date is now here.

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6 ways to avoid a credit card catastrophe

Do you feel like your credit card spending is out of control? Follow these six ways to lead you off the path of financial catastrophe.

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2019 Health Savings Account Limits: New contribution limits are on the horizon

The savings limits for the ever-popular health savings accounts (HSA) are now set for 2019. The new limits are outlined here with current year amounts noted for comparison.

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Don't forget to document your spring cleaning donations

Don't forget to document your spring cleaning donations

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Don't get hooked by a phishing scam

Don't get hooked by a phishing scam

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Considering divorce? Think about your tax filing status

If you're thinking about divorce, you should also be considering what tax filing status you should choose. Here's why.

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Make Your Child's Summer Break a Tax Break

As a busy working parent, you may be concerned about what activities are available for your kids this summer. There may be a solution that’s also a tax break: summer camp!

Using the Child and Dependent Care Credit, you can be reimbursed for part of the cost of enrolling your child in a day camp this summer.

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Additional refunds result from FY 2017 audits

Additional refunds result from FY 2017 audits

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Home equity loan interest deductibility has changed

Home equity loan interest deductibility has changed

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Your refund check is coming — Watch out

Your refund check is coming — Watch out

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How to get your marriage off to a good financial start

Don't say "I do" until you've said a lot more to your spouse about finances. Here's a helpful guideline.

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Leveraging Your Children's Lower Tax Rate: One of the best places for parents to look for tax savings

If you're a parent, your dependent children can be a source of tax savings. There are the well-known provisions in the tax code such as the Dependent Child Care Credit and the Child Tax Credit, but there's also an opportunity to shift some taxable income to your children.

Shifting income to your children works because the tax rate increases as your income rises. This provides an incentive to shift income to your lower-earning dependent children. Here's how to make it work:

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