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IRS Takes Steps to Reduce Fraud
IRS Takes Steps to Reduce Fraud The IRS is now taking additional steps to combat the rapid increase in taxpayer identity theft. Here is what you need to know about what is happening now.
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Non-taxable Income for Those in the Armed Services
Non-taxable Income for Those in the Armed Services There are special tax benefits to members of the U.S. Armed Forces. If you or someone you know is in the military, prior to filing a tax return it makes sense to review your situation. Outlined here are some of the more common items that may be excluded from your taxable income.
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College Tax Savings: 2014 Edition
College Tax Savings: 2014 Edition – Every little break helps College move in day is just around the corner. While you consider how to pay for this tremendous expense, do not forget to account for the best tax breaks possible. Here are some of the more common educational tax breaks for those in college.
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Understanding Tax Terms: Basis – Covering the bases on basis
Understanding Tax Terms: Basis – Covering the bases on basis This commonly used tax term is anything but common to most of us. Knowing the basics of basis can serve to lower your tax obligation when you sell property.
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Social Security tax problems
Beware the Tax Torpedo – Large retirement account balances can cause Social Security tax problems A big surprise can occur when you see your Social Security Retirement Benefits being subject to income tax. This “tax torpedo” is often triggered by Retirement Account distributions. Are you prepared for this?
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Tax Benefits of Home Ownership
ow that home values are on the rise once more, it makes sense to review the tax benefits of home ownership. As always, should you know of someone who may benefit from this information please feel free to forward this newsletter to them. Tax Benefits of Home Ownership When it comes to tax savings it really is home sweet home. Here are some of the popular tax benefits of owning your own home and how to get the most out of your home’s tax advantaged status. Mortgage interest. Interest paid on your home mortgage is still tax deductible. This deduction
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Seven Little Money Savings Ideas
Seven Little Money Savings Ideas Money savings ideas are around us every day. Here are seven that can quickly be put to use to save more of what you earn.
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