All Entries in the "Taxes" Category
What is a tax write off?
Tweet I have been getting several questions lately about tax write offs. In my inbox this morning I had a great question that made me take things back a few steps. It was “I have been hearing all about tax write offs lately and I think I am missing something. I ended up [...]
Where Is My Tax Refund?
Tweet Have you already submitted your taxes and are now sitting back back waiting to get your tax refund check in the mail? Or if you are like me watching your bank account to see when that tax return direct deposit will happen. It can be hard to wait for money that is owed to [...]
9 Crazy Tax Deductions That Actually Worked
Tweet There are your common tax deductions and then there are others. The ultimate goal when doing your taxes is trying to minimize the amount of money that you give up to the government and with that in mind some people get pretty creative to say the least. Check out the article I wrote [...]
The Most Overlooked Tax Deductions
Tweet There are many people currently rolling in their tax check and stocking up on furniture, big screen TV’s, and vacations. Others have waited a little bit longer and are carefully looking over their paperwork, in an attempt to make sure they are maximizing their gains for this April. Then there are the rest of [...]
Rent A Cow and Save on Taxes, Tax Loophole
Tweet The Rent a Cow Loophole You read that right, there is a provision in the Florida tax code that provides a significant tax break for people who want to rent a cow. This has got to be one of the strangest tax loopholes I have heard about. You may get excited about the prospect [...]
The 14 Weirdest Tax Write Offs, They Were Asking for an IRS Audit
Tweet People are always trying to get creative with their tax deductions, but the IRS does not always go along with them. Filers have tried to deduct everything from prostitutes and pornography to pets and lavish holidays. But the IRS has been quick to put the kibosh on some of the truly outlandish deductions. While [...]
How to Spend Your Tax Refund Wisely
Tweet Each year, millions of Americans look forward to that magical day when they find out how much they will be getting back in a tax refund. Now that the federal government and most of the states use direct deposit, people are getting their refunds faster than ever. You could take your tax refund and [...]
States With No Income Tax
Tweet In early 2007 as I was getting everything back from my CPA for my 2006 tax return, I was a little shocked. As it turned out I owed more to the government than I had ever even made in a single year prior. It was crazy to me that I was about to write [...]
Start 2013 Off Right By Reviewing Your W-4 Exemptions
Tweet Life is rarely static and things are constantly changing from year to year and the start of 2013 serves as a great reminder. One item that is often overlooked is the W-4 IRS form. We are most familiar with this form when we start a new job as it is generally required to be [...]
The Bad News About Tax Refund Anticipation Loans
Tweet A Tax Refund Anticipation Loan (RAL) is a type of loan that many tax preparation companies offer, which is essentially an advance on your expected tax refund. A RAL loan can be approved in a manner of minutes and the money accessible within a day or two. Since these loans are secured by your [...]
August Back-to-School Sales Tax Holidays
Tweet Take Advantage of Tax-Free Savings This August It’s that time of year again. School will be back in session before you know it and there will be plenty of added expenses as you hurry to buy supplies, electronics, and clothing for your children. Rather than panic, you can find relief in Tax-Free Weekends. Seven [...]
Tax Relief for Unemployed Taxpayers Who Can’t Pay
Tweet As if being unemployed isn’t difficult enough, unemployment benefits are taxable, which can just add to the financial burden. It may seem like the unemployed can’t catch a break, but the IRS may have a heart (even a small one) after all. In early March of 2012, the IRS made an announcement stating they [...]
24 Ways to Save on Your Tax Preparation Fees
Tweet In today’s economy, everyone is looking to save money on their groceries, car insurance, monthly rent expenses, and more. Luckily, this can work for tax time too. Below, we’ve outlined some of the top ways you can save money as April 15 nears, including: 9 ways to get prepared for your tax appointment 10 [...]
Do You Have to Pay taxes on Unemployment Income?
Tweet Finding Out if You have to Pay Taxes on Unemployment Benefits Unemployment remains high and is still in the double digits in some states, but many Americans are filing taxes while unemployed for the first time. Tax laws are governed by the state of the economy, and the government makes amendments from time to [...]
Do I Need an Accountant or CPA? Knowing When to Outsource Your Taxes
Tweet Finding an Accountant Can Lead to Big Tax Savings If you’re like most Americans you probably have a good handle on completing your taxes on your own. Over the years it has become incredibly easy for anyone with a computer thanks to TurboTax and H&R Block At Home to sit down and go through [...]
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