Tax Tips

Filing a 2011 Tax Extension: 2012 Deadline Dates & How to File

January 5, 2012

The tax deadline to file your 2011 tax return is April 17, 2012. If you are unable to file your return by the due date, in most cases… Read More

The Bonus Tax Rate: Understanding Taxes on Year-End Bonuses

January 4, 2012

There is generally some confusion as to how bonus income is taxed. Many people mistakenly believe that the bonus they receive from their employer during the holiday season… Read More

What is the Alternative Minimum Tax (AMT) for 2011 & 2012?

December 28, 2011

If you’ve been doing your research on tax credits and deductions, some of the sources that you've come across might mention that you’ll want to watch out for… Read More

2012 IRS Standard Mileage Tax Deduction Rate?

December 23, 2011

The 2012 IRS mileage rates (2013 IRS mileage rates) vary depending on whether you are claiming mileage for business travel, moving expenses, charitable work or medical-related traveling. Each… Read More

As an Employee, Which Business Expenses are Tax Deductible?

December 15, 2011

When you’re working for your employer on the road or from a home office, you’re likely to run up a lot of expenses, some of which may not… Read More

2011 Tax Deductible Medical Expenses: Eligibility and Limits

December 7, 2011

The price of medical care in the U.S. can run into the thousands of dollars each year for routine care once you factor in the cost of insurance… Read More

Backup Withholding Tax Rate: When it Applies & IRS Notifications

November 30, 2011

If you are an employer or some other entity that makes payments, you must withhold taxes from your employees' paychecks and certain other payments that you issue. However,… Read More

Charitable Tax Deductions: How to Deduct Donations to Charity

November 14, 2011

Are you trying to determine whether or not a charitable donation that you've made - or are thinking of making - will be a tax deduction? The good… Read More

Tax Breaks for Veterans and Active Military Members

November 11, 2011

If you are a veteran, you may be entitled to certain tax breaks. While veterans must pay taxes on their regular earned military and veteran pay, there are… Read More

IRS Worker Classification: Independent Contractor vs Employee

November 2, 2011

If you're a business owner who utilizes independent contractors, it is crucial for you to be aware of the differences between an independent contractor and an employee in… Read More