November 13, 2014
If you have to move because of your job — whether you’re starting a new job or working at the same job in a new location — you may be able to deduct some of your moving expenses on your income tax...
November 6, 2014
October 22, 2014
The Earned Income Tax Credit (EITC or EIC), which has been around since 1975, essentially provides a subsidy for low-income working families. To claim this tax credit, you must meet certain eligibility...
October 16, 2014
When you’re getting married, taxes are probably the last thing you want to think about. However, it is still important to understand the tax consequences of marriage. This article explains some basic tax considerations for newlyweds.Name and...
October 15, 2014
One of the best ways to reduce your income tax liability (and possibly increase your tax refund) is through Federal tax deductions provided by the IRS.
There are certain...
October 10, 2014
Are you wondering if you need to file a tax return? While most people who earn an income must file a Federal income tax return, that is not true for everyone.
Depending on your...
October 9, 2014
One thing that many new retirees forget is that they may need to pay taxes on a portion of their Social Security benefits. These benefits include monthly retirement, disability, and survivor payments — but not supplemental security income (SSI)...
October 7, 2014
Have you given or received a large gift? Do you know what the tax consequences are? You may be subject to the 40% Federal Gift Tax.
According to the IRS, a gift is "Any transfer to an individual, either directly or indirectly, where full...
September 16, 2014
Members of the U.S. Armed Forces, particularly those deployed in combat zones, are faced with unique tax situations and are eligible for special tax benefits.
For Federal tax purposes, the U.S. Armed Forces includes the following:...
September 8, 2014
Gambling — whether it’s at the racetracks, the casino, or the lottery — is a source of entertainment for millions of people. It is also a source of income, whether you win the Powerball...