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Tax

Everyone wants to try and get the best deal they can when it comes to taxes. You’ve probably heard plenty about the home buyer tax credit, but unless you are a first time home buyer, or haven’t bought a home in several years, you don’t qualify. Additionally, there are different income eligibility requirements, depending on [...]

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With a lackluster economy, unemployment rising, and tax revenues plunging, Uncle Sam would love for you to generate more revenue for him. In fact, the IRS with increased funding has more personnel and capital than ever before, and will issue a penalty whenever you fail to file, fail to pay, or forget to file certain [...]

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As tax season kicks into high gear, you are likely to see a number of commercials touting the virtues of a tax refund advance. This can be a tempting proposition. You go in, have your tax return prepared, and the nice folks cut you a refund check right there. Otherwise, you could get your money [...]

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Over the holidays, my husband’s family spent quite a bit of time with us. His brother mentioned that he is expecting a nice, large tax return. “I use it as a sort of savings account,” he said. “That way, I know I’m getting something back.”
Before I could help myself, I blurted out: “But why? You’re [...]

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You can lower your taxes for this year now, but not after December 31.
It’s that time of the year again when you are preparing for holiday parties, agonizing over gift lists and rushing to get everything done in time. Take a breather and consider the following ways in which you can save money on taxes [...]

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I use a professional to prepare my tax returns each year, so there’s no point in me bothering to learn about taxes. In fact, that’s the entire reason I use an accountant.
I come across that line of reasoning all the time. And as a former tax accountant, let me say this: It’s a huge mistake–one [...]

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I know what you’re thinking. It’s not even Halloween yet so why in the world should we be thinking about the most dreaded day of the year, April 15th? The truth is, now is exactly the time when you should begin planning the preparation of your 2009 tax return. Here are a few tips to [...]

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Many people are scared of the IRS even if they did nothing wrong. If you want to avoid IRS audits, remember that taxes should always be on the back of your mind, not just during April. Furthermore, here are nine precautions you can take to avoid those dreadful meetings with Uncle Sam.

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Cash for Clunkers tax rules have been falsely rumored by many people on the Internet and I want to clear it up for anyone who already took advantage of this program. The truth is that the Cash for Clunkers income is not taxable. It doesn’t matter if you received $3,500 or $4,500 and [...]

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When tax time comes around, it’s often difficult to determine whether you should opt for the standard deduction or for an itemized deduction. What is a seemingly tiny distinction could actually be the difference between thousands of dollars in tax savings. It’s important to make a quick scan of your fiscal year to figure out [...]

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