October 15, 2013
A Federal income tax audit is a review of your income tax return to determine its accuracy and truthfulness. Note that a tax audit is not necessarily an...
September 18, 2013
For most people, the thought of paying income taxes makes their spine tingle. While everyone knows that income taxes are paid to the IRS (Internal Revenue Service) each...
September 10, 2013
Many people do not understand marginal income tax and how it affects them. In turn, they can end up making financial decisions that are actually less beneficial...
September 4, 2013
Undoubtedly the two biggest benefits of having an employer are health insurance and retirement plans, right? Wrong. Both of these...
August 20, 2013
The economy might be improving, but there are still a lot of people who are pasting together their financial obligations through temporary, part-time employment and work by contract. In the six months leading up to July, 2013,...
July 25, 2013
You do not want to use the IRS like a bank account. Believe me, the money withheld from your paycheck would be better spent elsewhere – loans, payments, or a pair of shoes – than it would sitting in the digital catacombs of the Internal Revenue...
July 19, 2013
You may have noticed the remarkably high self-employment tax on Form 1040 (15.3%) and wondered how Americans – who have such a rich history of entrepreneurship –...
July 17, 2013
You may have noticed a bigger bite out of your paycheck since January, 2013.
The monster responsible is payroll taxes. That is because politicians allowed the ...
July 1, 2013
Estimated taxes are simple … in theory.
For salaried employees, estimated tax payments would be fairly simple to calculate, but many small businesses and self-employed persons in the United States can have...
June 25, 2013
Ever heard the saying “There is no such thing as a free lunch?”
Well, it can be true for the IRS, because if your employer provides that lunch free of charge, then the IRS could tax you on it.