January 14, 2015
You have two options for filing your Federal income tax return (IRS Form 1040). You can file a paper return or you can file electronically (a.k.a. “e-file”).
The IRS has announced that the...
January 13, 2015
For the majority of Americans, the most commonly used document for filing a tax return is IRS Tax Form 1040. This form is due by April 15 each year.
While there are many...
December 29, 2014
During the month of December, consider these year-end tax tips that could save you money when April 15th comes around.
1) Give to Charity
If you plan on a itemizing your deductions, you can reduce your tax liability...
December 18, 2014
Giving to charity has two major benefits: it helps those who receive it, and it can be claimed as a deduction on your income tax return.
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 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)...
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 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...
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”...