Taxes Archive

Tax relief for first time home buyers can be a much welcomed benefit of owning a home. This is partially due to the large expenses that come with buying a home for the first time. …

In today’s tough economic times, millions of Americans find themselves unemployed or with a significantly smaller income. Unfortunately, two things are still certain in life, and one of those things is taxes. As the tax …

Tax refunds are a bad thing. Don’t get me wrong. Last year I got $4,600 back on my taxes, and I was loving it. However, I quickly realized that I was giving the IRS an …

April is the time of year when people start panicking about their tax return, and if you are one of the thousands of people who will not have their tax return submitted by midnight on …

Just the letters IRS can invoke fear and immediate stress with a taxpayer. The IRS sends thousands of letters off each year to taxpayers and the subject of the letters ranges from a missing form …

You work hard for your money throughout the year. The dreaded tax deadline comes in April and you, being a disciplined taxpayer, filed your tax forms a few months early. You patiently wait for your …

With the rising fuel prices, commuters in the United States are increasingly opting to travel by public transportation. This has been confirmed through a survey conducted among the large and small U.S. public transit agencies …

How to Claim the Correct Number of Dependants on Your W-4 Tax documents are notoriously complicated, and the W-4 is one that every working person in America will have to get through. Recent versions of …

As we return to school and settle back into our routines of sleeping, pooping, studying, sleeping while studying and pooping while sleeping, I speak for everyone when I say we finally have a chance to …

I’ve been audited three times and have not only survived my tax audit each time, but have actually used them to get additional tax refunds. Here’s how you can, not just survive, but thrive, if …

Lurking Monsters Most people know that withholding taxes are deducted from their payroll checks. They know the deducted money is held by Internal Revenue Service until the tax return is filed. They also know they …

Before you can learn what to do to avoid being audited by the Internal Revenue Service (IRS), one must understand how a return is chosen for an audit. The IRS has a “secret formula” called …

As Americans turn a watchful eye to the calendar on the wall, a haunting date approaches. April 15, 2013, is the last day to file those 2012 federal income taxes, leaving many to wonder what …

With the demise of employer funded pension plans throughout the United States with the exception of government provided pensions such as exist with the Federal Employee Retirement System, the military retirement system and most state …

Why is it that every April I feel like a criminal? I break out in a cold sweat the minute I file my taxes, and jump at every knock on the door. I’m sure it’s …

Democracy in twenty first century means much more than elections of a President or a Parliament. It must reach a stage where people can participate in policy formulation. And the most important policy for any …

“In this world nothing can be said to be certain, except death and taxes.” The works of Benjamin Franklin, 1817). It’s time to pay Uncle Sam and many people hate it and for a worthy …

Exemptions reduce your taxable income, therefore reducing your overall tax bill. There are several types of exemptions, but personal exemptions are those you are allowed for yourself and your spouse. You can receive exemptions for …

Dealing with the IRS is something many people dread and try to avoid at all costs. However, trying to take on the IRS alone as a tax payer is also not a good idea as …

I used to believe there could be little tolerance for those who complain about having to pay taxes. After all, how else is this great country supposed to fund itself? I also used to believe, …

Capital gains: profits made from investing, primarily in equities instruments. Secondarily, capital gains include interest on savings accounts, IRAs, 401-series accounts, Certificates of Deposit…the kinds of accounts held by tens of millions of regular Americans. …

Typical CPA is cheaper than the big advertising tax firms. Here’s the deal. The ads you see on the TV for tax preparation are by only a couple of firms. What they do is, beginning …

The IRS allows you to deduct basic living expenses on your personal income tax return. One option is to list exactly how much you spend on the various personal deductions that the tax law allows, …

The Internal Revenue Service has been able to reduce a previous year’s tax gap and budget shortfall by 14.4 percent or $65 billion lowering that year’s budget deficit to $385 billion according to a recent …

Fake tax returns quintupled last year, causing serious processing delays and erroneous payments. The move toward electronic tax filing has opened the door for identity thieves to file tax returns using social security numbers that …

A transportation spending account can save you money by reducing your pretax income. The accounts are in compliance with IRS Code, Section 132. They function similarly to medical or dependent care flexible spending accounts. As …

As if it isn’t bad enough to have a good portion of your wages go to the government already, they come up with nuttier and nuttier ideas on how to steal it from you in …

People dread being audited by the IRS, but it does happen to a few unlucky taxpayers every year. About 1-3 percent of all tax returns are selected for audit by the IRS. Most audits are …

Tax Withholding According to the IRS website, www.irs.gov. , the federal income tax is a pay as you go tax. Your final bill is not tallied until April fifteenth of the following year. You pay …

For homeowners, the actual cost of owning a home is more than just a monthly mortgage payment. Even if your home is paid off, you still aren’t in the clear financially. Property taxes are a …