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Tax Deductions

How To Donate A Car To Goodwill How To Donate A Car To Goodwill

There are a number of benefits when donating a car to Goodwill. Not only does it allow you to give back to the local community but you can also receive a tax benefit by making a charitable donation to a qualifying organization. Fortunately, there is ...


Is A Home Equity Line Of Credit Tax Deductible? Is A Home Equity Line Of Credit Tax Deductible?

Being a home owner comes with many benefits such as not having loud neighbors above you, enjoying a backyard barbecue and paying yourself by building equity in the place you live. An additional and often used benefit from owning a home is called a ho...


7 Easy-to-Miss Tax Deductions 7 Easy-to-Miss Tax Deductions

Most tax filers take advantage of the standard deduction provided to all individuals to lower their adjusted gross income and minimize their tax burden. There are however a number of other deductions and credits which can be easily missed but help si...


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Filing Taxes

When Does A Person Not Have To File Income Taxes? When Does A Person Not Have To File Income Taxes?

Filing income taxes is a common annual requirement for most adult but that's not always the case. Obviously there certain circumstances such as unemployment or students who may not need to file personal income tax returns for a given year. Depending ...


6 Key Tax Mistakes To Avoid 6 Key Tax Mistakes To Avoid

Tax time is a stressful time, even for the most prepared filer. And for the many people who aren't perfectly prepared when the season rolls around, each commercial, ad or sign that mentions tax preparation can be a painful reminder that the daunting ...


Filing Back Taxes: How to File and What to Know

With the IRS and back taxes, one good fact is that the IRS has an unwritten policy about not prosecuting people that voluntarily file back taxes. However, things are different if the IRS finds you first; they can punish individuals up to 1 year in pr...


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Tax Credits

What is a Tax Credit vs Tax Deduction? What is a Tax Credit vs Tax Deduction?

It's a good thing most of us only have to file taxes once a year. With all of the confusing terms, complex language, and mind-numbing math, it's as if the people who write the tax code just wanted to bore us and trick us into a mistake or two. Eve...


Deductions vs. Credits

As we all know, deductions and credits are two very important ways to reduce your overall tax liability. Every April, we scramble to find more and more deductions and credits so that we can pay the Tax Man less and less. But which one is best? Which ...


What is a Tax Deduction vs Tax Credit? What is a Tax Deduction vs Tax Credit?

It's a good thing most of us only have to file taxes once a year. With all of the confusing terms, complex language, and mind-numbing math, it's as if the people who write the tax code just wanted to bore us and trick us into a mistake or two. Eve...


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Tax Tips

Tips For Surviving An IRS Audit Tips For Surviving An IRS Audit

Surviving an IRS audit is no simple task but for those individuals who remain calm, have their paperwork in order and above all else, act professional, the process shouldn't be particularly difficult. Horror stories of being grilled by IRS agents in ...


6 Tips to Get Organized for Income Taxes 6 Tips to Get Organized for Income Taxes

Filing personal income taxes is only as complicated as your personal financial situation. Most individuals don't have offshore investments or own shell companies so their taxes are relatively straightforward. Much of the work related to filing income...


9 Tips to Avoid an Audit 9 Tips to Avoid an Audit

Audits are used by the government take a closer look at personal and business income to verify what was reported is accurate. There are certain red flags which will increase your chances of being audited such as claiming excessive deductions or misre...


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Online Tax Filing

How To File Taxes Online How To File Taxes Online

Many more individuals and companies are filing their taxes online. There are number of different ways to accomplish this goal either by using tax-preparation software or going directly to the Internal Revenue Service website. Regardless of how you fi...


Online Tax Filing Tips Online Tax Filing Tips

Many tax preparation companies offer a tax preparation software program to help taxpayers both prepare and file their income tax returns. E-filing, short for electronic filing, is when you choose to file and submit your income tax return to the IRS t...


How Do I File Taxes Online? How Do I File Taxes Online?

Filing taxes online can make the whole tax return process a little faster. The main benefits of online tax filing are that you can receive a faster refund, your income tax return is immediately delivered to the IRS and state government without a driv...


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