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Tax Lounge Blogs

Avoid penalties when transferring a 401(k) to a traditional IRA

Few Americans stay employed with the first company they joined for the duration of their lives, which often prompts them to transfer their retirement fund to a new account at least once. However, cert...

Posted To: Tax Ranger's Blog By: Tax Ranger on 7/14/2011 3:25:31 PM

Michigan to cut income tax credits to charities

Budget shortfalls are impacting many states across the country, and some are finding ways to squeeze additional income by cutting longstanding tax incentives.Michigan has announced it will eliminate a...

Posted To: Tax Ranger's Blog By: Tax Ranger on 7/14/2011 3:25:31 PM

Summer jobs may have tax implications for young adults

Many high school and college students spend their summers toiling away at restaurants, grocery stores and outdoor positions. But what many may not realize is that their summer job may have tax implica...

Posted To: Tax Ranger's Blog By: Tax Ranger on 7/14/2011 3:25:31 PM

Know the tax rules before taking out a 401(k) loan

Although the economy is making a slow recovery, many families are still hard-pressed and working to make ends meet. As a result, some may have found relief by taking out a loan against their 401(k)s.T...

Posted To: Tax Ranger's Blog By: Tax Ranger on 7/14/2011 3:25:31 PM

Nearly half of Americans will not pay federal income taxes in 2011

No one enjoys receiving a bill from Uncle Sam at the end of tax filing season, and the results of a new study show fewer Americans will have to worry about owing the government during the 2011 tax yea...

Posted To: Tax Ranger's Blog By: Tax Ranger on 7/14/2011 3:25:31 PM

Make sure charities give proof of a taxpayer's donation

A recent study shows that more Americans are loosening their purse strings and making charitable contributions to qualified organizations. However, tax professionals are urging individuals who plan to...

Posted To: Tax Ranger's Blog By: Tax Ranger on 7/14/2011 3:25:31 PM

Con”GRAD”ulations! You’re a taxpayer!!!

If you're a recent college grad and have already secured your first job, you'll need to become familiar with what Uncle Sam will expect of you at tax time.  For starters, you will most likely be ...

Posted To: Tax Mommy's Blog By: Stephanie Brenneman on 7/14/2011 3:40:00 AM

Six Tax Tips for Students Starting a Summer Job

 "School's out for summer!" I bet you couldn't read that sentence without singing the song! School is out and many students will be starting summer jobs. The Internal Revenue Service reminds st...

Posted To: Tax Mommy's Blog By: David Rocci on 7/13/2011 4:28:00 AM

Summer Day Camps May Qualify for a Tax Credit

Summertime is finally here!  Are you enjoying days at the pool, maybe taking a vacation (or a staycation depending on your economy) or catching up with neighbors as people spend more time out doo...

Posted To: Tax Rants by David Rocci By: David Rocci on 7/13/2011 3:44:00 AM

Business Travel-What’s Deductible?

Often, business owners wonder what they may or may not deduct.  Often, business owners and those incurring deductible travel expenses for their employer, conservatively deduct expenses, opting to...

Posted To: Ramblin Randall By: Ramblin Randall on 7/12/2011 5:09:00 PM