Gambling with taxes

So you decided during 2014 you would take a nice holiday to a resort casino for some relaxation and enjoyment. While on holiday you part take in some gambling activities, (e.g. blackjack, the wheel of fortune, craps, poker, etc.), and…

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Foreign Disclosures

So if a person is a United States citizen (or resident alien) and he/she own some investment-type assets and/or investment-type accounts outside the United States, which does not produce any interest, dividends, rental, and/or any other income stream, does this…

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House of Windsor

Of course we are not referring to the British Royal Family, but the infamous US Supreme Court case of United States vs. Windsor, which was handed down back on June 26, 2013. What Windsor was about is the constitutionality of…

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Rental losses: deductible?

A person owns and operates a few (or even several) rental properties and after apply all of the operating expenses (e.g. mortgage interest, real estate taxes, cleaning/maintenance, management fees, etc.), including depreciation, and resulting an operating loss (or losses) on…

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