Understanding Tax Terms: Wash Sales
Surprise! Your stock loss is not deductible. As you look for year-end tax moves to save on your bill from Uncle Sam, you may consider
December 30, 2013
Understanding Tax Terms: the kiddie tax
The Kiddie Tax – What to Know The term “kiddie tax” was introduced by the Tax Reform Act of 1986. The IRS introduced this rule
December 16, 2013
Use it or Lose it!
Health Flex Spending Arrangement Rules Changing Do you have funds in an employer provided Health Flexible Spending Arrangement (FSA)? If you worry about the long-standing
November 20, 2013
Document those Non-cash Charitable Donations!
Tips to ensure their deductibility One often overlooked way to reduce your tax obligation is to donate gently used items to a favorite charity. Too
November 14, 2013
Defending Fair Market Value
“Fair market value (FMV) is the price that property would sell for on the open market. It is the price that would be agreed on
October 24, 2013
Tax-Free Rental Income
Most income you receive is taxable income that is reported to you and to the Federal/State tax authorities. However, there are a few income-producing events
August 27, 2013
Using Losers to Make Winners
Understanding the rules surrounding investment losses can really help minimize your tax obligation each year. This is because investment gains and income can be subject
August 19, 2013
IRS Notices with Interest Calculation Error
IRS to send out special mailings Noted here is a copy of a recent interest error calculation announcement made by the IRS. If you recently
July 19, 2013
Avoid the Gambling Winnings Tax Surprise
With the increased popularity of lotteries and casinos, more unsuspecting winners are experiencing a lucky payday only to end up with a huge tax head-ache
July 16, 2013
Avoid the 50% Penalty!
Understanding Required Minimum Distribution (RMD) Rules Every year thousands of taxpayers are hit with a heavy 50% penalty for not withdrawing enough money from their
July 9, 2013
