Question: Is there anything wrong with getting a big income tax refund every year? Answer: Yes, it means you’re giving the IRS an interest-free loan when you could have the...
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Question: Is there anything wrong with getting a big income tax refund every year? Answer: Yes, it means you’re giving the IRS an interest-free loan when you could have the...
Are you Eligible? Since 1975, the Earned Income Tax Credit (EITC) has provided a tax break to millions of Americans each year. The credit was originally established to give low...
A timely knowledge of this definition is pretty important If you have problems getting to sleep at night and you turn to the IRS tax code for help, you might...
The word “audit” is enough to raise anyone’s blood pressure. If the IRS agent then tells you they want to see bank accounts and personal records you may need a...
Question: Can I itemize my deductions this year? Answer: If you have enough personal expenses, you may save income taxes if you itemize your deductions. Compare your itemized deductions with...
Question: What is the marriage penalty? Answer: The marriage penalty occurs when a married couple pays more federal income tax than two single taxpayers with the same total amount of...
What every Traditional IRA owner should know It is one thing to be taxed on retirement contributions and their related earnings when you withdraw funds from your Traditional IRA, it...
Question: Should I convert my IRA to a Roth IRA? Answer: Roth IRAs are very attractive because once money is inside a Roth, it may never be taxed again. However,...
Too often taxpayers receive tax surprises at year-end due to actions taken by mutual funds they own. What can add insult to injury is the unsuspecting taxpayer who recently purchases...
Gift taxes are due on certain transfers of wealth. If and when gift taxes are due, the donor is liable for them. The recipient of the gift is not taxed....
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