Tax Strategies
Do I need my babysitter’s Social Security number?
Mary Poppins might play hard ball if you ask for her social. Here's a spoonful of tax advice to help you get her on the…
How to avoid getting audited
The IRS has been stepping up its efforts to ensure that Americans are accurately reporting the taxes they owe. This means that the IRS is…
Is a live-in girlfriend or boyfriend tax-deductible?
Maybe, if she wasn’t working last year, or didn’t earn very much. A qualifying partner gives you an extra personal exemption, worth $3,800. This works…
How much tax should I have withheld?
Withholding tax (also known as “payroll withholding”) is essentially income tax that is withheld from your wages and sent directly to the IRS by your…
Tax Tip: The head of household loophole you won’t want to use
One spouse in a married couple filing separate returns can file as 'Head of Household,' but the trick isn't a pleasant one. NEW YORK…
Understanding and establishing ‘Material Participation’ for tax purposes
When it comes to your income taxes, U.S. tax law makes a distinction between different types of income — including income from passive investments and…
Special rules for deducting moving expenses
There are many costs associated with moving and they can really add up fast. Fortunately, if you are moving because of a new job, or…
What is mortgage forgiveness?
The Mortgage Debt Relief Act of 2007 can help homeowners in foreclosure or short sale situations The current housing market is full of foreclosed…
