Tax Lounge Blogs

Americans are often eager to take advantage of federal tax credits during filing season. Federal tax credits for energy efficiency are becoming an increasingly popular benefit that consumers are utili...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Tax preparation can be a tedious process, involving scores of documents, financial and investment statements and additional credit- or deduction-related forms. Given the large amount of necessary info...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Military service men and women who missed the homebuyer tax credit may be eligible for an extension. The incentive, which provides up to an $8,000 credit for first-time homebuyers and $6,500 for repea...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Most teenagers and college students spend their summers working. When filing season rolls around, parents and their kids should understand how summer jobs may affect their taxes.Most teenage workers w...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
The heat of summer can bring on higher costs of running air conditioners and other appliances, in addition to increasing the wear and tear of certain machines. Consumers may benefit from purchasing ne...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Many individuals affected by the oil spill in the Gulf Coast are wondering how proceeds from British Petroleum claims will affect their taxes. While the details are still being worked out, long-standi...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
As college tuition gets more expensive, some Americans holding Series EE and Series I savings bonds may be wondering about the tax implications of cashing them in for educational purposes. According t...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
The rules surrounding conversion from a traditional IRA to a Roth account can be difficult to understand, as evidenced by one advice seeker's question to Fox Business regarding her retirement account....
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
Tax credits and deductions are intended to provide some financial relief to Americans, but a recent report shows that many eligible individuals may not be claiming them during filing season. Citing th...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014
One provision of the new health care laws - namely the law that allows parents to continue coverage for dependents up to age 26 - has many families wondering if this will affect their tax status.One w...
Posted To: Tax Lounge By: Tax Ranger on Thursday, December 04, 2014