Tax E-mail Fraud

Your spam account is top of the line, and you have come to recognize the junk mail you recieve on a regular basis. E-mail is so widely used and spam detectors are refined to a tee. So when that e-mail came in from the IRS saying that you had underreported some income, you opened it [...]

What to Bring to the Tax Office

Tax time is usually a stressful period, but it doesn’t have to be. Start gathering your forms, paperwork, and notes before January 1st even gets here. This is a big tip to reduce tax anxiety. Make a folder with a few basics that you take in every year, such as copies of current ID’s, social [...]

College Costing too Much? Get Some of that Money Back

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Tuition fees, room and board, book fees, and lab fees are just the tip of the iceberg when it comes to education expenses. Thank goodness the IRS helps taxpayers out. The Hope Credit for education expenses has been around for years. Originally the Hope Credit was for the first two years of college, and had [...]

Sales Tax Deduction

In 2009 there is a chance to take the sales tax on large purchases as a deduction. Vehicles that qualify for this tax break are new cars, light trucks, motor homes, and motorcycles. Only new vehicles are eligible, not pre-owned, and they must have been purchased between February 17th, 2009 and December 31st, 2009.
Most taxpayers [...]

$2,400 Unemployment Tax Break

A large portion of taxpayer’s believe that unemployment income is not taxable because it isn’t earned income. This is a myth, all income no matter the origins is taxable except for a few cases. Unemployment income unfortunately has not been once of these cases until this tax year.
One of the new implements that was initiated [...]

Make Improvements on your Home and Save Money

We’ve all heard of energy credits before and many taxpayers took advantage of them for years. In 2008 when they were no longer available taxpayers were shocked. As one of the many provisions of the American Recovery and Reinvestment Act of 2009 energy credits are back and in full force.
There are a few too [...]

You May Not be Having Enough Federal Tax Withheld

 

Are you a married couple with two incomes?
A pensioner?
An individual with multiple jobs?
A dependent?
Do you receive social security and still work?

You may not be having as much withholdings held back as you like. As part of the American Recovery and Reinvestment Act of 2009 the Making Work
Pay credit gave taxpayer’s more money in their pocket [...]

Time is Running Out for the $8,000 Tax Credit

Have you closed on a home or will you close on a home between April 8th, 2008 and November 30th, 2009? If that’s the case you may be missing out on free money. The First Time Homebuyer Credit is available to any taxpayer who has recently purchased a home and has not perviously owned a [...]