Lighter Side Of Taxes
In a turbulent economy with constantly changing rules it’s no surprise that the bill from Uncle Sam can sneak up on some of us. Here are some tips to make sure you emerge (mostly) unscathed this April 15.
Most folks looking for tax deductions focus on things like mortgage interest, real estate taxes and charitable donations. But tax rule changes that applied in 2013 made them less valuable in cutting taxes for an increasing number of taxpayers.
According to the IRS, 20 to 25 percent of Americans wait until the last two weeks before the deadline to file their taxes. If tax time snuck up on you this year, here are a few tips to help you file.
Get a jump-start on next year’s taxes by setting up a filing system now. You can use a folder system where you label the each folders according to your needs.
Most of us fall into one of three categories; we keep too much of the paper that comes into our homes or there those that try to throw out everything. And of course those that fall in between.
What is your largest asset? It’s your ability to earn a living!
What may trigger an audit from your tax filing?
College can be is very expensive, luckily Congress and the IRS have given us ways to offset education costs.
Should you take the time to fill out the long 1040? It really depends. To find out whether you should itemize you will need to do some homework.
Review your tax situation now so you have some idea what tax bracket you will fall into this year and decide whether you want to do the long 1040 or the short 1040EZ.
This tax season holds good news for millions of self-employed people who work from home: Home office deductions, which used to require a litany of calculations and the completion of a 43-line form, have at last been simplified.
Changes to tax laws last year reinstated some income-based phase outs of some widely used personal exemptions and itemized deductions, leaving many taxpayers with higher tax bills.
The IRS has a warning for Americans — watch out for tax scams. Every year the agency releases a “Dirty Dozen” list of the worst tax scams out there. This year, identity theft and phone scams top the list.
Whether you’re 25 or 55, you know you’ll want to retire one day – and to retire in comfort you must save. These five simple steps can help you make a big difference in your efforts to reach retirement with lots of money in your retirement account.
With careful planning, you may find yourself paying the IRS much less than you have in years past.