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.
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 […]
Many travel to different countries around the year but few take advantage of the sales tax refund policies that some countries provide. The most common reasons for not applying are: never knew tax refund are possible for visitors didn’t know how to get your tax refunds back laziness If you fall under any of the […]
With my wife’s job change comes the addition of flexible spending accounts (FSA) for us to consider. A few days ago, we looked at the dependent day care FSA so let’s round up the discussion by looking at the health care version today. Health Care Flexible Spending Account With any FSAs, the main benefit is […]
I read in the paper on Sunday where an article suggested that instead of all the silly bailout, we ought to pass legislation to let homeowners deduct $2 for every $1 of interest that they pay. It’s a creative way to help the troubled housing and financial markets and one that I’d like to discuss […]
For the first time ever, a company that my wife or I worked for offered flexible spending accounts (FSA). We were given two accounts to enroll in: Dependent Day Care FSA nad Health Care FSA. I will be looking into each of these in more detail. Today, let’s focus on: Dependent Day Care Flexible Spending […]
