I just won the lottery. What tax problems did I just “win?”
We all dream of having that winning ticket, but as with all earnings, the IRS will want their share. Easy come, easy go! Here’s a closer look at what to expect from the IRS should…
IRS Passport Issues- Warning: The IRS Can Keep You from Traveling Home
IRS Passport, Can The IRS Revoke Your Passport? Unpaid taxes burden millions of Americans, causing mountains of stress. Have you experienced any of the following? Your debit card is rejected at checkout (“insufficient funds”) because…
5 Ways to Go Green and Reduce Your Taxes
The US tax code includes several green initiatives to incentivize homeowners to go green. These green initiatives take the form of tax credits. Tax ‘credits’ have a more direct effect on your tax bill than…
Best Last-minute Year-end Expenses to Minimize Tax Liabilities?
2020 has been a tough year. Why not treat yourself to some savings? Read on to get actionable ideas for reducing your taxes. Then, act quickly, and ring out the old with a lower tax…
Why You Should Seek IRS Representation When Getting Audited?
The IRS has some tax tips on their website about IRS representation and what it specifically means for taxpayers. Taxpayers have the right to have an authorized IRS representative represent their interests in front of…
7 Income Streams for Millionaires: Tax Relief Help
Income is taxed by the federal government as well as the majority of states. Governments use income taxes to provide goods and services that benefit the American people. The three largest categories of expenditures from…
What Tax Advice Would You Offer Your Younger Self?
Remember paying taxes for the very first time? You probably had a whole lot of questions, and maybe you didn’t do things quite right. We asked a panel of professionals to talk about what experience…
Tips from Tax Experts: What IRS Documents Should You Keep?
During the era of Covid-19, when many of our homes have started to serve as dual-purpose offices, gyms, shopping centers, and cinemas, many of us are looking around with an eye to tidy things up…
How to Find Tax Relief: Renting vs. Buying
Buying a home – hands down – provides more tax relief than renting. The government has enacted laws that subsidize home ownership to nudge citizens toward buying and away from renting. If the federal government…
What’s Better For Minimizing Tax Liabilities: Pre-Tax Or Post-Tax Investments?
If you’re deciding how to invest your money, it’s important to understand the effects that these investments will have on your taxes. We asked a panel of professionals to share their opinions on this topic….