Taxes

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Finding Every Deduction

Submitted by Kimberly J. Howard on Thursday, February 26, 2015 - 12:00pm

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.

Dumb Rules on Tapping IRAs

Submitted by David John Marotta and Megan Russell on Thursday, February 26, 2015 - 9:00am

IRA distribution rules are extremely shortsighted. They punish taxpayers in the short run and gain the government less in the long term. To see how, let’s examine how Washington compels people to withdraw money from these popular retirement plans.

Deducting IRA Savings (Pt. 2)

Submitted by Jim Blankenship on Friday, February 13, 2015 - 3:00pm

Depending on your income, you can’t just sock away whatever you want wherever you want for retirement. Our first article looked at how much you can save annually in your individual retirement account, hinging on how much you make and what status you use to file your taxes.

How to Use Contract Staff

Submitted by Kimberly Howard on Thursday, February 5, 2015 - 3:00pm

An expanding business makes many demands on your finances. One of them is the cost of hiring additional staff. Instead of taking on full-time workers at the early stage of the business, using contract employees to fill a staffing gap is a better way to go.

New Year, New Tax Rules

Submitted by Lewis J. Walker on Tuesday, February 3, 2015 - 12:00pm

It’s a new tax year, and many deductions, exemptions and other Internal Revenue Service provisions have changed. Be aware of them. Some will cost you more, some will help you.

Entering 2015, we begin the paper chase leading up to filing tax forms for 2014. As we account for last year, start planning now for 2015. Time flies. This century already is 14% gone.

Gen Y Tax Saving Tips

Submitted by Sophia Bera on Tuesday, January 20, 2015 - 3:00pm

Many young taxpayers miss out on tax-saving opportunities because they just aren’t aware of them. Here are some tax credits and deductions that you shouldn’t overlook.

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