Time to get your financial house in order for tax season! It seems like every year when we do our taxes, there’s a few things we wish we would have done in December to reduce our tax bill just a little more. Sound familiar?
That’s where a little planning results in great rewards! Here’s your list [...]
While I do have a lot of tax knowledge, most of it from volunteering at VITA, I am by no means an expert!
Every so often, I forward a bunch of questions from readers to our local IRS agent to either answer or confirm my answers. Our contact recently retired after over 3 decades of service, [...]
It came to my attention recently that one of the service providers of our family does not report all of his or her income. I’ve always “known about it” in a roundabout way, but it was actually stated to me directly. I’m in a quandary about what to do…. and I’m also mad about it.
The [...]
UPDATE: $15,000 Home Buyer Tax Credit possible! Congress passed an $8,000 First Time Home Buyer Tax Credit for 2009. The $7,500 tax credit outlined below will still apply to homes purchased in 2008.
UPDATE 2: The $8,000 First Time Home Buyer Tax Credit Extended the deadline until June 30, 2010. In addition, it will now include [...]
I’ve been utilizing a tax strategy the last few years to take advantage of low tax rates. Huge deferrals and unpaid maternity leaves gave us some room in the 15% tax bracket to convert traditional IRAs to Roth IRAs, and even 401ks to Roth IRAs. Although we had to recharacterize some of it, we were [...]
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