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Charitable donations remain a popular deduction

One of the most popular deductions during any given tax filing season is the one for charitable donations, although the recession may have taken a toll on overall numbers this year.

- Monday, March 1, 2010 Read More

States and federal government both offer long-term insurance tax benefits

A company that specializes in long-term insurance coverage is reminding people that along with federal tax benefits, their state may also offer provisions that benefit them financially at filing time.

- Thursday, February 25, 2010 Read More

Income tax falls under various brackets

One of the most basic aspects of any tax filing season is the marginal rate that people will pay based on their income.

- Thursday, February 25, 2010 Read More

Tax code can have various benefits for entrepreneurs

At tax filing time, people who are self-employed or who own small businesses should be especially careful to avoid any potential mistakes that can lower the size of their return or produce other adverse consequences.

- Wednesday, February 24, 2010 Read More

Debt forgiveness often carries tax implications

Millions of Americans have been working to overcome mortgage and credit troubles in the past couple of years, encountering varying degrees of success in the process.

- Wednesday, February 24, 2010 Read More

Penalties higher now for failing to file

As if there weren't enough reasons to visit with a tax professional this filing season, the Internal Revenue Service is offering yet one more - an increased penalty for failing to file.

- Tuesday, February 23, 2010 Read More

Teachers can deduct some classroom-related expenses

The tax code offers deductions for people who spend money on their businesses and jobs, and the Internal Revenue Service is reminding people that teachers are among those who may be eligible for such benefits.

- Tuesday, February 23, 2010 Read More

Cash gifts can have tax implications

In recent months, various media reports have noted that a growing number of adult workers are moving back in with their parents, either to help make ends meet or in response to a job loss or some other significant financial setback.

- Monday, February 22, 2010 Read More

Tax code varies for 'indefinite' jobs

The recession has forced millions of Americans to accept temporary jobs or jobs far from home in order to make ends meet.

- Monday, February 22, 2010 Read More

Taxpayers advised on disability benefits

A company that provides financial services for the disabled is reminding people to be mindful of the tax code this filing season as it pertains to their monthly disability benefits.

- Monday, February 22, 2010 Read More

Taxpayers should consider retirement plan options carefully

One question some workers will find themselves focusing on this filing season is whether they should switch their traditional individual retirement account or 401(k) to a Roth IRA.

- Friday, February 19, 2010 Read More

Tax code sets regulations on vacations, business activities

Some business owners and other professionals may be inclined to write off some of their expenses at filing time if they devote part of their vacation to work-related activities. However, a recent news article reminds people to be cautious when they set out to do so.

- Friday, February 19, 2010 Read More

Many home-business expenses can be deducted

A high unemployment rate has more Americans than ever trying to make ends meet by working out of their homes in a wide variety of small business and other entrepreneurial pursuits.

- Thursday, February 18, 2010 Read More

Lines between employees and independent contractors can be blurred

Some workers and business owners may need to pay closer attention than ever to federal laws regarding independent contractors, especially in light of recent reports about a planned increase in enforcement activity to offset declining tax revenues.

- Thursday, February 18, 2010 Read More

Questions may focus on what income is taxable

Each filing season, one common question facing people is what counts as taxable income.

- Wednesday, February 17, 2010 Read More