When is an itemized deduction high enough to cause an audit risk? The tables below give you some examples of acceptable numbers. Many things can make a tax return look suspicious, but outsized [...]
The tax code provides education tax benefits for post-secondary (college) education tuition paid during the year for a taxpayer, spouse, or dependents. Taxpayers should make every attempt to take [...]
The American Taxpayer Relief Act of 2012 President Obama signed into law in January 2013, included many tax law changes that will affect your itemized deductions for 2013.
Whether you roll the dice, play cards or bet on the ponies, all your winnings are taxable. Here are six tax gambling income and losses tips from the IRS for the casual gambler:
For tax years 2010 through 2013, the maximum credit is 35 percent of premiums paid for small business employers and 25 percent of premiums paid for small tax-exempt employers such as charities. [...]
Did your 2012 converted Roth IRA account decline this year? If you converted your traditional IRA to a Roth IRA during 2012 and paid (or will pay) the tax on the conversion and then watched the [...]
If you plan to start a new business, or you’ve just opened your doors, it is important for you to know your federal tax responsibilities. Here are five basic Starting a Small Business Tax Tips [...]
Summer is often a time when people make major life decisions. Common events include buying a home, getting married or changing jobs. If you’re looking for a new job in your same line of work, [...]
Taxes on the sale of your home may increase in 2013 because of two new laws that take effect this year which will result in increased capital gains on home sales. Financing the sale yourself as [...]
