Take The Tax IQ Test
Do you need help preparing your tax return, or should you try to do it yourself? The following quiz can help give you an idea of how well you understand tax concepts and current tax laws. There are 25...
View ArticleDon’t Pay Taxes on Your House Sale
Under current law, age no longer matters. If the property sold was your principal residence for at least two out of the last five years, then you can exclude from tax as much as $250,000 in gain (and...
View ArticleIt is NOT Uncommon to Pay to Much Tax
Many people discover that too much tax has been paid when they complete the required information or tax return. For example, when you complete your personal income tax return – after taking into...
View ArticleSome Possible Tax Breaks for the Unemployed
If you’re unemployed, your tax bill will probably decline: Deduction for medical expenses. Co-payments, deductibles and other unreimbursed medical expenses are deductible only if they exceed 7.5% of...
View ArticleFive steps to prepare for tax time
Now that you’ve vacuumed the confetti off the floor and finished washing all those champagne flutes, it’s time to start preparing for the year we just rang in – and the taxes we’ll all have to pay on...
View ArticleForbes: Five Tax Tips for the Divorced
1. Tax “custody” is different. These days, family courts often award “joint” custody of a child–joint legal custody and sometimes joint physical custody too. In the tax world there is no such thing....
View ArticleCPA: 5 Most Common Tax Mistakes
By Amanda Han: As most of you are probably well aware but it is that time of the year again when we all start to work on our taxes. It is scary to think that the average American loses more money to...
View ArticleTax Relief Act: Four Retirement Moves to Make
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that President Barack Obama signed into law last year might not make for great bedtime reading. But that doesn’t mean...
View ArticleHow to Choose the Right Tax Pro for Your Situation
With the amount of income that goes to paying taxes every year and considering how complex tax law has become, if you are in need of a tax professional it behooves you to find one that will have your...
View ArticleWork at Home? You May Qualify for the Home Office Deduction
Work at Home? You May Qualify for the Home Office Deduction IRS Tax Tip 2012-49, March 13, 2012 If you use part of your home for business, you may be able to deduct expenses for the business use of...
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