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Take Every Deduction

Submitted by Kimberly J. Howard on Tuesday, March 1, 2016 - 9:00am

Every possible tax deduction can help when your money is tight. Yet many available legal deductions go unclaimed each year simply because most taxpayers still don’t know the breaks exist. From eyeglasses to airline baggage fees, you might qualify for at least one often-forgotten deduction – and maybe more than one.

Taxes and ID Theft-Critical Steps

Submitted by Sheri Iannetta Cupo on Thursday, February 4, 2016 - 12:00pm

Your letter from the Internal Revenue Service says a bogus tax return was already filed in your name. Or your electronically filed return bounces back because fake returns are already on file with your Social Security number (SSN). Surprise: You may be the victim of identity theft. What can you do?

Unique Way to Donate

Submitted by Dan Crimmins on Wednesday, January 20, 2016 - 9:00am

“It is every man’s obligation,” said Albert Einstein, “to put back into the world at least the equivalent of what he takes out of it.” If you agree and wonder about starting a private foundation to control spending of your charitable donations, you might have a better tool: a donor advised fund. 

Avoiding Tax Scams

Submitted by Sheri Iannetta Cupo on Wednesday, January 13, 2016 - 12:00pm

While the Internal Revenue Service may not be your favorite federal agency, criminals posing as IRS representatives are unquestionably the much bigger problem. Here’s what to know to protect yourself.

Scammers set increasingly treacherous traps for swindling taxpayers’ assets, identities or both. Favorite targets are those most likely to fall for the trickery and least able to afford it:  older adults, immigrants and widows or widowers.

Charity Choices and Precautions

Submitted by Barry Glassman on Wednesday, December 23, 2015 - 12:00pm

Over the holiday season, we heard the familiar sound of the Salvation Army bells ringing. For many, it’s a reminder to give to others in need. Here are some useful tools that help your search for a charity that aligns with your values.

In working with clients over the years, I found that those who give their time and money to a cause they care deeply about are more fulfilled. Perhaps it’s because the simple act of helping others amplifies a greater purpose in all of us.

Family Biz and Tax Advantages

Submitted by Sam Cohen on Wednesday, December 23, 2015 - 9:00am

Family businesses often employ parents, children or grandchildren. If your business does, employees from your family might warrant tax exemptions that can save you big.

“One of the advantages of operating your own business is hiring family members,” claims the Internal Revenue Service. “However, employment tax requirements for family employees may vary from those that apply to other employees.”

Beware Home-Selling Myths

Submitted by Jim Blankenship on Thursday, October 15, 2015 - 9:00am

Like many folks, you sell a home only a few times in your life and so likely don’t know the potentially tricky rules and laws concerning real estate sales. Here are some half-truths, both new and established.