Taxability of Recovery Items such as State Tax Refunds Q: Here’s the situation. A client made a large state tax payment in 2011. The payment turned out to be much larger than his state tax liability. He received a large state tax refund during 2012. As usual, the state reported
Read more →Can I Deduct My Charitable Donation on Last Year’s Return Since I Gave Instructions to My Broker? Q: “I wanted to make a charitable donation of stock in December 2012. I sent in the paperwork to my broker in mid-December. My statement shows the stock wasn’t transferred
Read more →California Under-Withholding Penalties for 2012 After Passage of Prop 30 Q: “I have been employed at Facebook for several years. I had substantial equity that vested in November. My 2012 income is higher than normal and I will be affected by Prop 30. I don’t have enough
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