The IRS has just issued a “Taxpayer Bill of Rights” that you should be aware of. The Rights are divided into ten main categories. According to this “cornerstone” document you have The Right: to be informed to quality service to pay no more than the correct amount of...
When you borrow from your 401(k), you become both a borrower and a lender. Whether that’s a good idea depends on your personal financial situation – and in the process of making the decision about lending money to yourself, you may have questions regarding the tax...
Losses can be hard to take – so if you think your S corporation will show a loss for 2013, now’s the time to plan to make sure you’ll get the full tax benefit. The Problem. The amount of the business loss you can deduct on your individual income tax return is limited...
You only have to examine your paycheck to realize that certain income is tax-free. For example, health insurance premiums paid by your employer are generally not included in your income. Do you know the tax status of other types of income? Here’s a quiz to test your...
Whether you’re a stock market bull or bear, you have investment expenses – and you may be wondering if they’re deductible on your federal income tax return. Here’s a quick review. What are investment expenses? Investment expenses are amounts you pay to produce or...
Planning to change employers this year? As you look forward to starting your new job, you’re probably not thinking about taxes. But actions you take now can have an impact next April – and beyond. Here are three tax-smart tips: Roll your retirement plan. You may be...
