8 Quotes by John Battaglia

If both people make $300,000, they'll pay more than $18,000 in taxes by filing jointly. That's about the cost of the wedding.

It doesn't matter what you spend that loan on. You can go out and borrow $100,000 against your home, spend it on anything, even a vacation - and you can deduct the full amount of interest you pay on that loan.

Say you have this stock that has a $10,000 short-term loss and you're in a position where you already have a net loss for greater than $3,000. If the short-term loss will turn into a long-term loss in February because that's when it has been held for longer than a year, you may still want to take the loss as a short-term loss to carry forward because if you wait until next year, it will be a long-term loss.

Anything that's relevant to your tax return I would keep until six years after you file, and I would keep copies of the tax returns themselves as long as possible.

They'll end up having to pay interest and penalties based on that income which they should have reported.

If the price of the stock drops, you could owe more in taxes than the value of the stock.

If you're getting a significant refund, you're probably withholding too much and you're giving the government an interest-free loan.

In the end somebody is going to have pay more tax.