September 23, 2014
Every year, the IRS publishes a list of the “Dirty Dozen” tax scams that pose the most danger to taxpayers at large. If you fall prey to one of these scams, you are at risk for owing the IRS a large sum of money. In extreme cases, a tax scam can...
September 18, 2014
As you may already know, the IRS provides tax deductions for charitable contributions that you make to a qualified organization. However, it is not just direct cash and property donations that are...
September 9, 2014
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...
September 2, 2014
If you owe taxes, it may feel as though you’ve been cast adrift upon a sea of uncaring bureaucracy. Don’t despair—you have rights! In fact, there is a new “Taxpayer Bill of Rights” that was...
August 11, 2014
Millions of people enjoy having hobbies — whether it’s photography, antiquing, craft making, collecting coins, or breeding horses. It usually costs money to support a hobby, but in some cases, your hobby can also make you money.
August 10, 2014
As many are still recovering from the Great Recession, the idea of having income (or even excess income) subject to tax is the last thing people want to think about.
Generally, tax law defines income as “undeniable accessions to wealth”...
June 2, 2014
Roughly one in three Americans files their own taxes online, rather than using a professional tax preparer. If you're going to file electronically, there are a few ways you can do it.
If your Adjusted Gross Income (AGI) was less than $58,...
May 5, 2014
If you happen to miss the filing deadline (April 15th), you should still try to file your income tax return as soon as possible — especially if you owe additional taxes.
The longer you wait to file your tax return, the more penalties and...
April 11, 2014
Have you always filed electronically? Never done it before? Here are a few things to consider.The Pros of E-File
Accuracy: Estimates for the error rate for paper returns vary from 10 to 21...