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  • 1.  Income tax protection

    Silver Most Valuable Member
    Posted 07-27-2017 08:35 AM
    I have a client who filed married filing joint in 2016.
    His wife passed in 2016, how do i protect him.
    1- 110% of 2016 or
    2- project 2017 using the single rate.??

    Help

    Thanks
     Ken

    Kenneth J Zweibel, CPA
    kjzcpa@aol.com
    631-368-5800
    631-368-5808 Fax
    516-639-0858 Cell

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  • 2.  RE: Income tax protection

    Bronze Most Valuable Member
    Posted 07-27-2017 08:47 AM
    Depends on what the wife contributed to income in 2016. If very little then 110% is easiest; otherwise project 2017.

    Vincent J. Preto, CPA
    Senior Partner
    Wagner and Zwerman LLP
    450 Wireless Blvd.
    Hauppauge, NY 11788
    631-777-1000 ext. 340

    Sent from my iPhone




  • 3.  RE: Income tax protection

    Silver Most Valuable Member
    Posted 07-28-2017 08:26 AM
    But in 2017 the taxpayer will be filing single.

    ------------------------------
    Kenneth Zweibel
    KENNETH J. ZWEIBEL, CPA PC
    East Northport NY
    ------------------------------



  • 4.  RE: Income tax protection

    Bronze Most Valuable Member
    Posted 07-28-2017 08:48 AM
    Yes unless dependent children then qualified widow.



    Vincent J. Preto, CPA
    Senior Partner
    Wagner and Zwerman LLP
    450 Wireless Blvd.
    Hauppauge, NY 11788
    631-777-1000 ext. 340

    Sent from my iPhone




  • 5.  RE: Income tax protection

    Gold Most Valuable Member
    Posted 07-28-2017 06:55 AM
    First I would review the 2016 income to see how much came from the wife,
    and what will not be there in 2017.

    Then, I would do a projection for 2017 using the single rates.

    --
    Very truly yours,

    Neil H. Fishman, CPA*, CFE, FCPA, CAMS
    *licensed in Florida & New York

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  • 6.  RE: Income tax protection

    Platinum Most Valuable Member
    Posted 07-28-2017 10:11 AM

    So the question is , if I have it correct:

    Can I pay estimates based on LY SINGLE and be protected from penalty,  or must the amount paid in estimate be figured on MF jointly ?

     

     

     

     

    Abby Alhante,  CPA

     

    Kurcias  & Alhante, LLC  CPAs

    525 Broadhollow Road   Suite 104

    Melville NY  11747

    516.829-5890  Fax 516-829-3976

    Mobile 516-381-9301

    AbbyA@KurciasAlhanteCPAs.com

    ( E mail response preferred )

     






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