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.
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?
“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.
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.
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 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.”
Market downturns, are a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that – now and in the future.
The rules about when you must take out money from your individual retirement account and other such vehicles are vexing. Mess this up, and you owe a penalty. Here’s what anyone nearing age 70 must know.
Any investor should frequently ask questions, often about simple securities. Stock options from your employer complicate matters a lot more, and here’s what you should ask.
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.