Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks won’t be around next year unless Congress acts to extend them. Businesses and individuals can potentially achieve significant tax savings
Tag: tax tips
Tax Tips – Individuals Selling Their Home
Ten Tax Tips for Individuals Selling Their Home If you’re selling your main home this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have
Tax Tips – Summer Tune-up for Tax Records
During the summer, you may not think about doing your taxes, but maybe you should. Some of the expenses you’ve paid over the past few months might qualify for money-saving tax credits or deductions come tax time. If you organize
Tax Tips – Deducting Moving Expenses
If you make a work-related move, you may be able to deduct the costs of the move. This may apply if you move to start a new job or to work at the same job in a new job location.
IRS Launches Site to Explain Affordable Care Act
The IRS has launched a new Affordable Care Act Tax Provisions website at IRS.gov/aca to educate individuals and businesses on how the health care law may affect them. The home page has three sections, which explains the tax benefits and
Tax Tips – Back-to-School Tips for Students and Parents
Going to college can be a stressful time for students and parents. The IRS offers these tips about education tax benefits that can help offset some college costs and maybe relieve some of that stress. American Opportunity Tax Credit. This
Tax Tips – Gambling Income and Losses
Six Tips on Gambling Income and Losses Whether you roll the dice, play cards or bet on the ponies, all your winnings are taxable. The IRS offers these six tax tips for the casual gambler. Gambling income includes winnings from
Tax Tips – Special Tax Benefits for Armed Forces Personnel
If you’re a member of the U.S. Armed Forces, the IRS wants you to know about the many tax benefits that may apply to you. Special tax rules apply to military members on active duty, including those serving in combat
Tax Tips for Taxpayers Who Travel for Charity Work
Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips the IRS wants you to know about
Tax Tips if You’re Starting a Business
If you plan to start a new business, or you’ve just opened your doors, it is important for you to know your federal tax responsibilities. Here are five basic tips from the IRS that can help you get started. Type