Category: Taxes

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What Charities are Tax Deductible

December 23, 2013 by in category Deductions, Taxes tagged as , , , ,

Donating to different charities is not only good for the charities, but it can also provide you with a deductible when tax time comes around. But not all charities are tax deductible, which means not all donations you give to charities can be claimed on your taxes. If you’re looking for more information on taxes […]

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Ridiculous Tax Frauds & Write offs

December 21, 2013 by in category irs, Taxes tagged as , , , ,

Weird Tax Evasions and Tax Frauds Death and Taxes — you’d think people would know by now that those are the only two things you can’t escape. Still, people do some crazy things when it comes to avoiding paying taxes. Let’s look at some of the odd and whacky ways people have tried to commit […]

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How to Avoid Tax Related Phone Scams

December 19, 2013 by in category Scams, Taxes tagged as , , , ,

Every year thousands of U.S. citizens are targeted by fraudulent IRS tax scams in an effort to cheat them out of their financial assets. As the 2013 tax season approaches, phone related scams are on the rise. In almost every state, taxpayers are receiving phone calls from scammers claiming to be IRS officials requesting payment […]

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De-Stressing During the Tax Season

December 18, 2013 by in category Taxes tagged as ,

The tax season is generally considered the months from January 1 to April 15. Unfortunately, this time period starts immediately after the holiday season when many people are already in stress mode. This can easily turn into a dangerous situation. According to the National Institutes of health (NIH), prolonged stress interrupts your body’s ability to […]

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Taxes you didn't know you were paying

December 16, 2013 by in category Taxes tagged as , , , , , , ,

It’s obvious when a consumer buys an item from a local retailer that the price that is actually paid will end up being more than the ticket price. Whether it’s a new car or a sweater at the mall, we pay taxes on almost all of our purchases. What many people may not realize is […]

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First Time Penalty Abatement

December 15, 2013 by in category irs, Taxes tagged as , , , , ,

What is First Time Penalty Abatement? Back taxes owed to the IRS can be overwhelming — particularly when additional penalties and accumulating interest factor into the equation. The IRS assessed nearly 40 million penalties totaling a staggering $27 billion against taxpayers in 2012 alone. Thanks to the little known First Time Abate (FTA) policy, however, […]

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Fresh Start Offer in Compromise

December 11, 2013 by in category irs, Taxes tagged as ,

What is the Fresh Start Offer in Compromise? What is the IRS’s Fresh Start Offer in Compromise? It’s a new service offered by the IRS through which they have taken their existing Streamlined Offer in Compromise and incorporated it as part of an umbrella investigation of offers for paying tax debt. The Fresh Start program […]

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Differences between Tax Forms

December 10, 2013 by in category Taxes tagged as

Whether it is your very first time filing your individual federal income tax return or your first time filing with new changes in your personal and home life, deciding which tax form is the right one for you can be a bit confusing. Here we’ll take a look at the differences between each tax form […]

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The IRS and Identity Protection

December 9, 2013 by in category Taxes tagged as , , , ,

The Internal Revenue Service (IRS) realizes that identity theft is a continued problem and has taken steps to protect taxpayers. The aggressive efforts of the IRS are paying off. The IRS stopped nearly 15 million suspicious returns from 2011 through 2013, protecting more than $50 billion in fake refunds. In 2013, the IRS initiated nearly […]

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Tax Returns (Great ways to spend)

December 7, 2013 by in category Taxes tagged as , , , , , ,

Great things to spend your tax return on Are you anticipating a big tax refund this year? Don’t blow it on stuff you don’t need or squander it at the nearest big-box store. Instead, use the money to solidify your financial future and boost your economic portfolio. To do that, plan to invest your tax […]

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