IRS Gives Victims of Hurricane Katrina More Relief

The IRS has announced further tax relief for victims of Hurricane Katrina due to slow clean up efforts and obviously devastated areas.

Your Tip Earnings and Taxes

If you work in a service where you get tips, guess what? The IRS expects you to report them and pay taxes on them.

Capital Assets – Gains and Losses for Taxes

Capital is a unique term when it comes to taxes. If it gains value, you pay a tax. If it loses it, you can write at least some of the loss off.

IRS Holding $2 Billion In Unclaimed Tax Refunds

Every year, the IRS announces that it is holding unclaimed tax refunds. Taxpayers have a limited time to claim the $2 billion dollars the IRS is currently holding.

Where to Deduct Tax Preparation Fees

Are tax preparation fees deductible only as a miscellaneous itemized deduction for all taxpayers? Has the IRS issued a ruling that shows where taxpayers may deduct tax preparation fees to save the most in taxes? If you own rental real estate or you are self-employed, you need to read this article.

Who's Afraid Of The Big Bad IRS?

Why are you so scared of Uncle Sam?

The Advantages of Accountable Plans for Employee Business Expenses

What is the best way to handle business expenses incurred by employees? Should a business simply provide a fixed amount to each employee to spend according to the discretion of the employee with no requirement to substantiate the expense? This article shows the tax advantages of an accountable plan over a simple expense allowance.

Useful Tips To Help Make Your Tax Preparation A Breeze

Preparing your taxes can be daunting and stressful, especially since the average person is not an expert on tax rules. So here are some basic tax preparation tips to help make your tax preparation go a little more smoothly.

Do You Know The Major Tax Return Mistakes To Avoid?

Tax season always brings out talk about 1040 EZ forms and W-2s, but most of us are in the dark about what to do with our tax returns even with the long set of directions the IRS puts in with the forms. There is always the option of paying someone else to take care of it, and for many people it is best option.

Top Tips For Saving Money On Your Tax Bill

Getting Ready To Submit Your Tax Return? Read these tips to save money before the tax year ends.

Inheritance Tax, and How to Avoid it

Karl Marx, Andrew Carnegie and John Maynard Keynes all favored high inheritance taxes. Fortunately, you don't have to take financial advice from any of them: this article reveals one way of avoiding inheritance tax altogether.

Taxation of the Sale of Your Home

Most home sellers are very excited on closing day. They anticipate seeing a very large check, usually the largest check they will see for any type of possession or investment they have sold. But, come the following April 15th, they should be asking their accountant whether there are any taxes that must be paid on the profit.

Tax Deductions for Your 2005 Hybrid Automobile

With the recent push by President Bush for alternative fuel strategies, much confusion has arisen regarding tax incentives for hybrid vehicles. This article clarifies the issue for you.

Second Homes - Tax Benefits and Potential Tax Pitfalls

Many people are buying a second home to use for vacations or to acquire a home to be used in retirement. Some provisions of the tax law treat a second home the same way as a primary home. However, other tax provisions applicable to a second home differ from the tax rules that apply to a principal residence. This article explains the tax benefits and potential tax pitfalls in owning a second home.

Debt and Denial - During the Tax Season

As 120 million households prepare their taxes this year Bill Mitchell asks the $64,000 question. “With the tax season deadline approaching, what election will you use to file your 2005 tax return? Married filing jointly or married with money grubbing cheating Spouse?”