http://www.blogtalkradio.com/cynthiagonzalezlawBankruptcy, Family Law, Estate Planning OH MY! The purpose of this show is to provide a venue for listeners to get legal information and ask questions.enBlogTalkRadio.com. All Rights Reserved.Sat, 15 Jun 2019 12:30:00 GMTSat, 16 Mar 2013 17:00:00 GMTLegalBlogTalkRadio Feed v2.0http://www.blogtalkradio.com/img/btrbetalogo.gifhttp://www.blogtalkradio.com/feeds@blogtalkradio.comBlogTalkRadio.comlegal,american opportunity credit,child tax credit,2009 tax refund,2012 taxes,917 million dollars in 2009 tax refunds,american taxpayer relief act,charitable donations,earned income credit,eicLaw ChatnoBankruptcy, Family Law, Estate Planning OH MY! The purpose of this show is to provide a venue for listeners to get legal information and ask questions.episodichttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/03/16/taxes-917-million-in-unclaimed-refunds-and-moreLegalhttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/03/16/taxes-917-million-in-unclaimed-refunds-and-more/#commentshttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/03/16/taxes-917-million-in-unclaimed-refunds-and-moreSat, 16 Mar 2013 17:00:00 GMTTaxes: $917 million in unclaimed Refunds and more Did you know that the IRS is reporting that there is $917 million in unclaimed refunds for folks who have not filed their 2009 taxes?  Wow! That is a lot of money and this happens every year.   The IRS places an expiration date on refunds owed to tax payers.  The taxpayer has 3 years to claim their tax refund from the date that the return was due for filing.  Many people never file, so they miss out on their right to receiving their refund.  The deadline for 2009 is 04/15/2013.  Let's get those 2009 returns filed!!! More interesting facts...how do people spend their refunds? Find out about 8 smart ways to spend your tax refund.   Need a break from crushing tax debt?? Find out about 8 tax loopholes that may help you lower your federal tax bill. 00:30:00Law Chatno2009 Tax Refund,917 million dollars in 2009 Tax Refunds,Tax Loopholes,Ways to Spend Your Tax Refund,2012 TaxesDid you know that the IRS is reporting that there is $917 million in unclaimed refunds for folks who have not filed their 2009 taxes?  Wow! That is a lot of mohttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/02/09/1040-standard-deduction-vs-itemized-deductionsLegalhttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/02/09/1040-standard-deduction-vs-itemized-deductions/#commentshttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/02/09/1040-standard-deduction-vs-itemized-deductionsSat, 09 Feb 2013 19:30:00 GMT1040: Standard Deduction vs. Itemized Deductions   Have you ever looked at your 1040 and wondered about standard deductions and itemized deductions but don't ask because you afraid of a longgggg answer?  I remember the first time that it mattered to me and how much I was helped by understanding the difference.  Sometimes taxpayers who normally only take the standard deduction give their preparers all of their stuff that would normally be used to itemize and fail to realize that it is not being used at all. Standard Deduction: Standard deduction refers to a specific dollar amount (predetermined by the IRS) that can be deducted from your income to reduce your taxable income.  The amount of the standard deduction will depend on the filing status that is declared on the 1040.  Individuals that itemize their deductions and non-resident aliens are not eligible to use the standard deduction. Itemized Deduction: Itemized deductions include expenses that can be claimed on a Schedule A as long as the expenses are listed on the list of allowable items created by the IRS. An example of allowable expenses would be: Mortgage Interest, Medical bills, Charitable Contributions, etc. Getting an understanding of the differences between standard and itemized deductions will help to determine the amount of the taxable income that should be included on a 1040. 00:32:00Law ChatnoStandard Deduction,Itemized Deduction,Schedule A,Mortgage Interest,Charitable DonationsHave you ever looked at your 1040 and wondered about standard deductions and itemized deductions but don't ask because you afraid of a longgggg answer?  I rhttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/02/02/credits-vs-deductions-whats-the-differenceLegalhttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/02/02/credits-vs-deductions-whats-the-difference/#commentshttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/02/02/credits-vs-deductions-whats-the-differenceSat, 02 Feb 2013 18:30:00 GMTCredits vs. Deductions: What's the Difference? When faced with the ominous 1040 every year during tax season, some taxpayers just sign on the dotted line, while others are curious about the calculations.  If your one of those tax payers trying to find out how your tax bill is calculated and why credits and deductions impact the bottom line, you have come to the right place. If a taxpayer qualifies to use either a tax credit or deduction they will most likely see a change in their taxable income. A tax credit will often lower a taxpayers tax bill dollar for dollar, no matter which tax bracket you are in.  However a deduction will take money off of your taxable income and then deduction will depend on your tax bracket. It is also important to know about the different credits and deductions how they affect  the taxpayer.  00:30:00Law ChatnoAmerican Opportunity Credit,EIC,Tuition,Hope Credit,Child Tax CreditWhen faced with the ominous 1040 every year during tax season, some taxpayers just sign on the dotted line, while others are curious about the calculations.  Ihttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/01/26/five-year-extension-of-tax-creditsLegalhttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/01/26/five-year-extension-of-tax-credits/#commentshttp://www.blogtalkradio.com/cynthiagonzalezlaw/2013/01/26/five-year-extension-of-tax-creditsSat, 26 Jan 2013 19:00:00 GMTFive Year Extension of Tax CreditsThe passage of the American Taxpayer Relief Act has lot of tax payers going through a lot of different emotions: relief, confusion, fear, sadness, happiness, etc.   The purpose of this show is to shed some light on some of the extenstions that were made passed for many of the expiring tax credits.,  the "Bush Tax Laws" and some made during Obama's presidency.  For example, Congress has extended the American Opportunity Credit for 5 years, which may be beneficial for parents that have students enrolled in college or for the students themselves (different qualifying factors may exist).   Another extension that may provide some relief for tax payers is the extension of the 2009 expansions of the Child Tax Credit.  The Child Tax Credit allows earnings above $3,000.00 to count toward refundability and includes an alternative formula to calculate the credit for families with three or more qualifying children.         00:26:00Law ChatnoAmerican Taxpayer Relief Act,Tax Credits,American Opportunity Credit,Child Tax Credit,Earned Income CreditThe passage of the American Taxpayer Relief Act has lot of tax payers going through a lot of different emotions: relief, confusion, fear, sadness, happiness, et