Taxes

How to Flex Your Financial Muscle with FSAs

Michael Koretzky on September 8, 2010

If you’ve never heard of flexible spending accounts, now is the time to learn. FSAs can save you serious money. So learn the basics – and don’t miss your enrollment period.

Viewer Question: Where’s My $8,000 Home-Buyer’s Tax Credit?

Stacy Johnson CPA on August 15, 2010

Buying a home could earn you a tax credit of up to $8,000. But don’t stand by the mailbox waiting for your check.

Taxes: Death of the Refund Anticipation Loan?

Michael Koretzky on August 9, 2010

IRS stops aiding and abetting tax preparers in making high interest loans to those Americans who can least afford them.

Uncle Sam Could Hike Taxes by Allowing Bush Tax Breaks to Expire

Donna Gehrke-White on July 7, 2010

Some could end up paying thousands of dollars more a year if Congress doesn’t act to keep some or all of the Bush tax cuts that are scheduled to expire this year.

Owe Back Taxes? 9 Tips to Help

Brian O'Connell on March 7, 2017

There’s no shame in falling behind on your taxes, but bury your head in the sand and you’ll owe even more.

On the Horizon – A Tidal Wave of Tax Forms

Stacy Johnson CPA on June 16, 2010

Thanks to the health care reform bill, life’s about to get a lot more taxing for small business.

Transform Last Year’s Tax Refund Into Next Year’s Tax Credit

Stacy Johnson CPA on May 6, 2010

Got your tax refund from last year? Transform it into an income tax credit for next year, while making some some cool improvements around the house at the same time.

Taxes 2010: Can’t Pay? File Anyway!

Stacy Johnson CPA on May 6, 2010

Burying your head in the sand and ignoring your problems is normally not a great idea. But when you’re dealing with Uncle Sam, it’s flatout dumb. If you owe income taxes you can’t pay, or know someone who does, here’s what you need to know.

Tax Day: Procrastinator Resources

Jim Robinson on January 2, 2012

Haven’t filed those taxes yet? Relax. Here’s some quick tips, links and advice that might keep you from feeling overtaxed.

What Are Your Odds of an IRS Audit?

Jim Robinson on April 9, 2010

Your odds of an audit depend largely on your income, but that’s not all the IRS looks at. To truly determine your odds of an audit, you first need to understand the IRS audit selection process.

5 Tips for Paperless Finances

Jim Robinson on June 16, 2010

Going digital by scanning the papers you need to keep and tossing the ones you don’t will help clean out your filing cabinet and stay better organized in the future.

Deadline for Haiti 2009 Deduction Ends Sunday

Jim Robinson on August 27, 2010

If you haven’t made a contribution to help Haiti, you might want to think about it within the next day or so. Especially if you could use a break on your 2009 taxes.

Tax Time is No Time for Mistakes

Stacy Johnson CPA on November 7, 2012

Everybody makes mistakes. But one place you should really try to avoid them is when you do your income taxes. You may think that using software will eliminate any chance for error; if only life were that simple! Before you seal that envelope or hit “send” to file electronically, read/watch this story.

Viewer Question: If I Settle a Debt, Do I Have to Pay Taxes?

Stacy Johnson CPA on November 7, 2012

Most people don’t realize it, but when you’re unable to pay your bills, you’ve got more to worry about than damage to your credit score. Because your creditor’s not the only one involved when you avoid repaying part or all of a debt through debt settlement, foreclosure or any other sort of forgiveness. You’ve also got Uncle Sam to worry about.

Tax Pros: Are They a Waste of Money?

Stacy Johnson CPA on February 17, 2010

According to a recent survey, the vast majority of Americans pay a tax professional to do their taxes for them. Since this is a job that you can do yourself in minutes with cheap software, I believe a lot of people are wasting a lot of money. But if you’re going to pay a pro, at least try to find the right one and harness their expertise so they’re worth the extra money.

Difference Between a Loan Shark and a Tax Refund Loan? Not Much.

Stacy Johnson CPA on November 7, 2012

Just because the name is national, the people are friendly and the decor is nice doesn’t mean you can trust your tax preparation service to do the right thing. The rates many preparers charge on refund anticipation loans makes them little more than loan sharks. If you don’t use these loans, you know someone that does. So check out this story, then share it.

Tax Changes 2009: Ready for a Refund?

Dan Schointuch on February 5, 2010

Before you file your taxes, it pays to check up on the latest changes to the tax code. This comprehensive list will ensure you don’t miss a thing!

Let Uncle Sam Help You Pay Off $5,000 of Debt

Stacy Johnson CPA on April 27, 2010

Most of the money I suggest harnessing for debt destruction comes in dribs and drabs from doing things like smart shopping and avoiding dumb deals.

But sometimes there’s something big you can do. This is one of those times.

Charities: 4 Things to Know Before Donating

Money Talks News on December 18, 2009

The most important part of donating to a charity? Making sure your donation gets to the right place.

Start Your Tax Planning Now For A Less Taxing April

Money Talks News on December 14, 2009

Since you’re probably already thinking about money during the holiday, why not see if there’s anything you can do to help come April.