“Do I really have to pay taxes on that?” No one likes to be surprised by the IRS, so here’s your chance to brush up on non-traditional income sources that are often mistakenly assumed to…
It’s been a dry season for the IRS thanks to COVID-19. The usual tax filing deadline of April 15 was pushed back until July 15. They have limited many of their usual activities to protect…
A woman walks into a sports store and sees a $200 puffer jacket marked down to $80. She lives in a warm climate and never wears jackets, but, how could she pass up such a…
Are you among the 36.5 million Americans who own cryptocurrency? If so, you might be interested to know that the IRS recently updated the tax guidelines for all cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash, Litecoin…
Have you ever wondered if you are paying more taxes than you owe? Industry experts estimate that 2 million Americans overpay their taxes every year. The overpayment is estimated at $1 billion annually. How can…
Through loopholes and deductions, there are ways to pay less in taxes legally, but at what point do you cross into “tax evasion” territory? Since this can often seem like a fuzzy line for taxpayers,…
“Nothing is certain except death and taxes.” One of America’s favorite founding fathers, Benjamin Franklin, is credited with making the proverb famous. Historians suggest, however, that Franklin might have been quoting an earlier source since…
What is the difference between a credit and a deduction? What is taxable income and earned income? Should I take the standard deduction? When you’re sitting down to do your taxes, it might feel like…
With all of the money that celebrities make, shouldn’t they be able to pay their taxes without issues? And yet, we hear countless tales of celebrity tax woes. We asked a panel of professionals to…
You have filed the paperwork, sent back the dreaded 1040, and the good news is that you are getting a return! That is good news, right? Well, that depends on how you look at it….