Tax Lounge Blogs

The winter holiday season is a time for celebrating and reuniting with friends, family and loved ones, but it's also one of the periods when Americans spend the most money. Although holiday gifts,...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Alimony payments can be expensive in some scenarios, so many divorcees may question whether these payments can be deducted from their taxes. But the answer is: it depends. There are a number of rules ...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
A recent ABC News report reveals President Barack Obama declared 89 major disasters in 2011, up from the 81 he declared in 2010. Additional statistics from the National Climatic Data Center reveal the
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Receiving a tax notice from the IRS almost immediately incites fear in most taxpayers. First, it's important to understand that there are many types of communication from the government tax agency
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
At some point or another, most taxpayers may have heard that claiming a home office deduction raises an automatic red flag at the IRS that may trigger an audit. However, home office deductions are leg
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Most taxpayers go through the details of their income tax returns with a fine-tooth comb before submitting them to the IRS. But many individuals are less diligent when it comes to reviewing the basic
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Many young adults struggle to make ends meet their first few years after graduating college. Some may be making an entry-level salary and trying to carry the costs of rent, auto payments and student l
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Consumers who negotiate a debt forgiveness deal with their credit card lender may feel a sense of relief after the agreement is finalized, but many may find that they have a larger tax bill during fil
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Tax deductions are a common and financially advantageous method individuals use to lower their tax liability, but certain tax breaks may attract the attention of the IRS more so than others. This is l
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
The new year is a busy time for most Americans, many of whom take it as an opportunity to clean out old clothing, appliances and financial files for a fresh and organized start to the next 12 months.
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014