What is Innocent Spouse Relief ?

What is innocent spouse relief? Married couples are allowed to file joint income tax returns.  Very often, women who are stay-at-home moms who have no personal income of their own file a joint income tax with their husbands.  Others are victims of domestic violence and they automatically sign the income tax return prepared by their […]

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Am I required to car insurance on my vehicle in New York?

Yes, every vehicle registered in New York must have liability insurance when it is driven on a public road.  In your car’s glove compartment, you must always have your license, your registration and your insurance policy or identification card. How does auto insurance work? Each time you insure your vehicle, the insurance company gives the […]

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How many exemptions should I claim?

What is a W-4 form? A W-4 form is a document that authorizes your employer to withhold amounts from your salary or pay so that it can be reserved and withheld for the payment of income tax to the Internal Revenue Service.  It is also a form where the taxpayer declares the amount of exemptions, […]

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What can you do when your car is going to be repossessed in New York?

Definition of ‘repossession’ Repossession is the act of a creditor of taking back actual physical possession of a motor vehicle.  Often when a person buys a car, he pays for it installments as he does not have the entire purchase price on hand.  The buyer makes a down payment or an earnest payment, and he […]

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What happens to student loans when bankruptcy is filed?

What are student loans? Student loans are loans granted to students for the specific purpose of financing a university or college education.  The loans are usually given by the federal or state government but there are other private corporations that extend loans to students. These loans usually have low interest rates and students do not […]

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