Even though April is still a few months away, it's never too soon to start prepping for tax time. Thanks to the introduction of new tax laws and the expiration of certain tax breaks, completing your 2014 return may be a little more complicated versus previous years. If you're wondering what the biggest changes are, here's a ... Read More
Tax Blog
New Tax Rules for Savers Coming in 2015
Setting aside money in a tax-deferred account such as an IRA is a great way to build up your nest egg while potentially reducing your tax liability. If you're enrolled in a high deductible insurance plan, you can also use a health savings account to plan for out-of-pocket medical expenses. If you're eligible to contribute to ... Read More
3 Important Tax Lessons We Can Learn From the Giudices
Unless you've been living under a rock, you've probably seen all the news stories revolving around Real Housewives of New Jersey stars Teresa and Joe Guidice. The reality TV celebs were recently sentenced to 15 and 41 months in federal prison respectively following their convictions on multiple fraud charges, including tax ... Read More
2014 Year-End Tax Planning Moves to Make Now
Tax season is still a few months away but that doesn't mean you can't start working on your strategy now. There's still time to do a few things that can have a significant impact on your tax filing. The choices you make could mean the difference between getting a fat refund or owing even more money to the IRS. If you're looking ... Read More
IRS Falls Short on Collecting from Delinquent Taxpayer
The last thing you want to find in your mailbox is a notice from the IRS telling you that you owe additional taxes. You could ignore it and hope it'll go away but chances are, Uncle Sam will try to collect on the taxes at some point. If you're worried about having your wages garnished or getting hit with a lien for unpaid taxes, ... Read More
5 Tax Tips for Starting a New Business
Starting a business requires a significant amount of planning but the more prepared you are, the greater the odds of success. One of the most important things entrepreneurs need to be concerned with is what new tax responsibilities are involved. If you'll soon be debuting a new business, here's a look at what steps you need to ... Read More
Tax Differences College Palsn: 529 Plan vs. Coverdell ESA
Millions of students are heading off to college and that collective groan you hear is the sound of parents who are scrambling to figure out how to handle the cost. While scholarships and grants can ease some of the burden, the demand often outstrips the supply of funding. Loans are another alternative but as the current student ... Read More
7 of the World’s Weirdest Tax Laws
The U.S. tax code is full of idiosyncrasies and there are plenty of strange tax rules at the state level. For instance, if you live in California you won't pay any sales tax on fresh fruits and vegetables you get at the grocery store but buying blueberries in Maine will cost you an extra 1.5 cents per pound. While these laws may ... Read More
Top 5 Tax Planning Tips for Recent College Grads
Graduating from college feels a little like crossing the finish line of a very long race but in reality, it's just the beginning. Going from the classroom the working world is a major transition that brings new responsibilities, including obligations to Uncle Sam. If you're just starting out in your first job, seeing how much of ... Read More
IRS Taxpayer Bill of Rights Spells Out Consumer Protections
The federal tax code is complex and if you're not a financial professional, trying to make sense of it is often an exercise in frustration. When you have a tax question or issue that needs to be resolved, calling up the IRS for help can lead to more confusion. Part of the problem is that consumers often don't realize they're ... Read More
