Tax Strategies

The Latest

  • March 4, 2013

    NEW YORK (MainStreet) — 
Are you expecting a refund from Uncle Sam this year? Whether you submit your Form 1040 electronically or mail a paper return to the IRS, you should elect to have...

  • March 1, 2013

    Most working parents have only one way of getting a tax break on the expenses they pay for childcare – the special tax credit allowed by law. You get a credit against expenses of up to $3,000 for the care of one child and $6,000 for the care of...

  • February 28, 2013

    Even if you take great care in preparing your federal income tax return, you may realize that some of the information you provided is missing...

  • February 27, 2013

    NEW YORK (MainStreet) — Did you move because of a new job or a job location last year? You may be entitled to an “above-the-line” deduction for your unreimbursed moving expenses.

    You...

  • February 21, 2013

    We all love to hear the news that we will receive a tax refund. Unfortunately, there are times when we end up owing taxes rather than receiving refunds. However, there are specific reasons as to why people end up owing taxes on any particular...

  • February 21, 2013

    You do. That is, if hope to take a child-care credit on your income tax return without running into problems with the IRS.

    The child-...

  • February 20, 2013

    There are two types of tax deductions. “Above the line” deductions are claimed on Page 1 of Form 1040 and reduce Adjusted Gross Income. “Below the line” deductions are claimed on Page 2 of the 1040 and reduce Taxable Income. The “line” is your...

  • February 19, 2013

    NEW YORK (MainStreet) — Calculators are humming and pencils are sharpened, all in anticipation of that annual exercise in angst and anxiety — filing your tax returns.

    Last year more...

  • February 19, 2013

    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 auditing a growing number of taxpayers, especially those with high incomes and complex financial...