Financial News, Tips & More!
Home Rental can Provide Tax-Free Income
Do you notice that every year during your town’s biggest festival/fair/event traffic gets out of control, lines at the grocery store are longer and the wait at your favorite restaurant is double the usual amount of time? This year you may be able to avoid all of that and make...
Tax Tips For the Unemployed
Everyone knows that the economy has been in a rut for quite a while now. Jobs are scarce, and times are hard. If you are unemployed, times can be even harder. But something you must realize is that even though you are unemployed, you still have to file taxes. But do not fret....
States With the Highest Income Tax
Every year, the IRS takes money out of everyone’s paychecks and gives it to the government. This is called an income tax. The IRS also collects taxes on business’ earnings and profits. Many people struggle with the idea of the government taking a large chunk of their money out...
Will Giving Money To Charities Make You Wealthier?
Perhaps you’ve heard of the saying that you get more the more you give. Put another way, the more money you give away, the more money you get. Isn’t that a strange notion? Do you really believe it? Let’s present a case to examine. John D. Rockefeller He was one of the first to...
Prepare Yourself for a Financial Crisis
When the financial crisis in 2008 struck the United States, many people were ruined financially. As America continues to rebuild it is important that individuals understand how they are going to prepare themselves financially to ensure that a financial crisis is not wholly...
Top Tax Breaks
It is fairly safe to say that no one likes paying taxes. Although taxes exist for a reason, it is often difficult to part with your hard-earned money and give it to the government. What a lot of people don’t know is that there are many tax breaks that individuals can take...
If You Win a Super Bowl Bet, It’s Taxable!
This is America. An obsession with football is rampant. The most watched football event of the year is the Super Bowl. The 2 teams playing this year are the Baltimore Ravens and the San Francisco 49ers. The Ravens have won the Super Bowl once in 2000, and the 49ers have won the...
Earned Income Tax Credit Audits of Tax Preparers, CPAs and Enrolled Agents
Tax Preparers, are they safe from Audit? Most tax preparers, Enrolled Agents and CPAs think completing the Form 8867 and EIC worksheets meets the due diligence requirements of Reg.Sec 1.6995-2(b)(3). This is false! You must additionally document your knowledge and due...
What Happens if you Don’t Pay Your Taxes?
Death and Taxes. These two aspects are famously stated to be the only two certainties in life. But with this inevitability of having to pay taxes baring down on all individuals in America there are more than a few who have failed to do so. People fail to pay taxes to the...
What Happened to the Fiscal Cliff?
The fiscal cliff has been pushed back at the beginning of this year with a bill. President Obama put it in ink on Wednesday, January 2nd with his a famed auto-pen. The fiscal cliff was all anyone could talk about in the last months leading up to 2013. News stories never stopped...