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Tips for Filing Income Tax
If you’re one of the millions of Americans owed an income tax refund this year, you’ll want to file as soon as possible to get your money. Good preparation and organization are key to doing this with...
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Six Common Tax Mistakes
The average federal income tax refund in 2003 was $2,000, according to the Internal Revenue Service. Yet millions of returns were delayed, not because of complicated issues, but due to simple mistakes...
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Filing Taxes Electronically
Spring is in the air, which means the birds are singing, snow is melting and millions of Americans are scrambling to prepare their income tax returns. This year, don’t let tax filing dampen your...
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How to Choose a Financial Adviser
Trusting your finances to a stranger is difficult. But whether it’s for income taxes, estate planning or basic family finances, most people will benefit from the advice of a financial adviser. Here is...
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Hiring a Tax Professional
Believe it or not, there once was a time when preparing and filing your own tax return wasn’t that difficult. But over time, the tax law has grown and become more complicated, leading many Americans...
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Tips for Using Your Tax Refund
Save it for emergencies – You’ll be more relaxed and virtually stress-free if an emergency strikes and you actually have the cash to pay for it. Put it toward paying cash for your next big ticket item...
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Income Tax Tips
Don’t pay more federal income tax than you have to. Check your returns for these five frequently missed tax deductions provided by the folks at Turbo Tax. State sales tax. Many tax filers aren’t even...
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Common Income Tax Mistakes
The IRS lists several common mistakes individuals make when filing taxes. Carelessness. Remember in high school when you’d get back your essay all marked in red because you misspelled 37 words? This,...
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Staying Safe From an IRS Audit
The thought of having to deal with the IRS is not something that most people find comforting. In fact, many people get downright scared when they think of having to handle an IRS audit. Taxes are...
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How Do I Set Up an IRS Payment Plan?
The management of delinquent taxes brings both good and bad news. The bad news is that taxes are owed and the IRS has a myriad of ways to collect them from you. Anyone who has incurred unpaid IRS tax...
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Where’s My Tax Refund?
If you are someone who has recently filed your tax refund, you may be wondering when you will receive a reply. Not only are you anxious to ensure that your tax refund has been received, you are also...
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How to Prepare All Year For Tax Time
Tax season is a huge headache for many people. The April 15th deadline creeps up on people before they can realize where time went. Rushing around at the last minute to prepare your documents for tax...
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Year-End Tax To Do List
Tax times makes most Americans shudder. Avoidance is how many deal with this yearly reality. Waiting until the last minute to do taxes only postpones the inevitable and may keep you from saving money....
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Should You Budget for a Timely Tax Refund This Year?
Whether or not you have been keeping up with the day-to-day politics of the tax debate, you are most certainly aware of the results. The Internal Revenue Service has recently informed the general...
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Understanding Your W2
Are you ready to begin the process of filing your taxes? You should receive your W2 by the end of January. There are a lot of boxes on that W2 but don’t let is worry you. With a little help, the...
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Tax Time: Refund Anticipation Check
If you’ve ever filed a tax return through a paid service, you were probably offered the option of a refund anticipation loan (RAL). These high cost loans allowed tax payers that were receiving a refund...
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How to E-File Your Tax Return
According to the Internal Revenue Service (IRS), nearly 100 million taxpayers e-filed their tax returns last year. The IRS encourages e-filing, emphasizing that e-filing is the “safest, fastest and...
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Less Money in Your Paycheck in 2013? Easy Tips for Savings
For most workers in the United States, the fiscal cliff was not truly averted for 2013. Stagnant wages and the return for payroll taxes to the way they were a few years ago make saving money a priority...
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Home Office: How to Claim As Deduction
Many people hesitate to claim a home office deduction on their tax forms because they mistakenly believe that this will trigger an audit. This is not the case, however, particularly these days when...
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Divorce and Tax Time
Each year, as tax deadlines approach, tax issues for divorced or divorcing parties’ surface. Issues such as marital status, dependent exemptions and alimony requirements have an effect on a party’s tax...
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Tips to Help Avoid An IRS Audit
It is the time of year again when you will be filing your federal income tax return as well as saying a little prayer that it will go through the entire process without launching an audit by the IRS....
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6 Tax Breaks You Shouldn’t Miss
When it comes to paying taxes, almost everyone would like to reduce the amount of money that they pay the federal government. Depending on your situation, there may be ways that you can get more...
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Taxes & Homeownership
One of the financial benefits of home ownership is the tax deductibility of some of the costs of ownership. Mortgage interest may be deducted, a tax credit is available for certain energy saving...
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Charitable Giving & Taxes
Giving not only does your soul good, it can also help when it comes time to file taxes. If you’re in the habit of giving to charity, you should also be able to take a nice big deduction when you file...
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Tips For Those Who Get A 1099 Each Year
Anyone who works for an employer gets a W-2 by the last day in January each year. However, those who are self-employed will receiver Form 1099 from any group that gave you more than $600 for services...
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Eligible Tax Deductions For A Job Search
Many Americans are out of work and looking for employment. One bonus of your job quest is the ability to deduct job search expenses from your taxes. The Internal Revenue Service (IRS) has a distinct...
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Understanding Capital Gains
Around tax time, many people start to stress out because they do not understand how taxes work or how much they’re going to have to pay. One often misunderstood area of the tax code deals with capital...
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Homeowner Tax Breaks
Financial adviser at Curtis Financial Planning Cathy Curtis explains several tax breaks involved with being a home owner.
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What to Buy Before the Online Tax Bill Passes
The Senate just passed an online sales tax bill, which will impact online retailers. What should you buy before this bill is enacted? Kelli Grant reports.
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Stop Overpaying on Taxes
Taxes often represent a complex yearly project that many people just want to finish and forget. Unfortunately, this strategy might lead to overpayment of taxes. Several deductions exist to help...
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5 Year-End Tax Moves to Make Now
Tax season may not officially start until after the new year, when we all begin to scramble to submit our tax returns. But taking a look at your tax situation now can ensure that you don’t miss out on...
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How to Claim Tax Deductions on Travel Expenses
Travel expenses are recognized as costs that a person may have to expend for a business or his employer, possibly not receiving compensation after the fact for the cost. In this regard, federal tax law...
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How to Assess the Value of Charitable Donations
The holiday season goes hand in hand with the season of giving. Not only do the festivities provide reasons to think of others’ needs, but the end of the year also leads to questions about tax...
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Protect Your Identity During Tax Season
With the stress of tax season, concerns of identity theft often fall to the wayside, particularly if you tend to fall among last-minute filers—which is exactly what scammers are counting on. Watch and...
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Tax Tips for Freelancers: Reporting Form 1099-MISC
Photos.com Tax time can be particularly difficult for independent contractors. Because the self-employed don’t have a portion of each paycheck automatically set aside to cover payroll taxes, the tax...
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Tax Implications of Student Loan Debt
Photos.com It’s that time of year again, when Americans dash to accountants’ offices and free-file sites to get their tax returns submitted before the April 15th IRS deadline. It can be chaotic and...
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Ask an Expert: Tax Shelters
Dear Kirk: I’ve been hearing the term “tax shelter” being thrown around a lot lately. Can you explain exactly what a tax shelter is and the easiest ways to take advantage? Photos.com Kirk Says: The...
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Expert Tips for Maximizing Your Tax Return
Photos.com If you, like so many of us, are daunted by tax season, you may catch yourself procrastinating, or (perhaps worse) filing in a hurry to sweep the task off your plate. But in the throes of a...
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How to Get Free Tax Preparation
Stacy Johnson of Money Talks News shares ways you may qualify for free, IRS-certified help filing your taxes and how to take advantage if you do. If you don’t qualify for free personalized help, that...
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Four Smart Ways to Reduce Mutual Fund Taxes
The finance experts at Barron’s share techniques for saving on taxes against your investments—including what not to do in search of tax savings.
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10 Surprising Things to Know About Taxes
What does Donald Duck have to do with tax season? What tricky tax loophole will have you looking twice at your morning bagel? The answers may surprise you.
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Legal Marijuana Sales: A Tax Revenue Dream Come True?
Thinkstock.com Washington state kicked open the door on recreational marijuana sales early this month—and found a stampede of weed money headed for the state’s revenue pipe. In the first two days, 25...
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Ask an Expert: Determining State Residency
Dear Kirk: For individuals that split time between more than one state, how do you determine residency and the associated state/local tax implications? Thinkstock.com Kirk Says: Every state has...
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Ask an Expert: Best Tax Strategies for Renters
Dear Kirk: What are some tax deductions/tax reduction strategies for renters? Kirk Says: Fundamentally, the landscape in some parts of the country has evolved in such a way that it is more cost...
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What the Affordable Care Act Means for Your Taxes
If the Affordable Care Act made a difference in your insurance coverage last year, then it’s going to make a difference in the way you file your taxes—and, potentially, the tax refund you can expect to...
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10 Work-Related Tax Write Offs You’re Probably Missing
They say nothing is certain except for death and taxes. However, the amount of taxes you pay isn’t necessarily a hard and fast figure. Case in point: If you have work-related expenses that aren’t...
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6 Ways Your Pet May Qualify as a Tax Deduction
You feed your pet. You house your pet. You love your pet. Dare we say it? Your pet may actually be your best friend (hey, no judgment). Welp, there’s great news, pet lovers! It turns out this kind of...
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Paying for College 101: Tax Credits, Savings Plans and More
The price of college tuition continues to skyrocket, leaving parents and their children looking for ways to offset high costs with the help of Uncle Sam. The IRS has come up with a variety of ways to...
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