Tips

Looking for ways to ensure there’s some extra money at the end of every month? Cut out these 4 expenses.

Posted November 23, 2013
Tips

Grandparents can help with college and lower taxable income.

A grandparent helping their grandchild pay for college can be a win all around. When a grandparent that contributes to a 529 savings plan, it lowers assets within the grandparent’s estate. This helps lowering estate tax.

Posted November 21, 2013
Tips

Travel expenses for charity help lower your taxes.

The IRS allows you to deduct your expenses when traveling for a charity cause. However there are a few criteria that you need to meet to be able to qualify for the deduction.

Posted November 12, 2013
Tips

So your friend was in a pinch and you thought they’d be good for it and they weren’t. It’s not all bad; you can lower your taxable income as a result.

Maybe you loaned money to a friend to help with a struggling situation. But now it’s beginning to look like you are never getting paid back.

Posted November 10, 2013
Tips

Many businesses regularly overlook 3 common mistakes that wind up costing them dearly and obstructing their path to a successful venture.

Posted November 4, 2013
Tips

How does the government shutdown impact the IRS?

The 16-day government shutdown came at a pivotal time for the IRS as they were prepping their complex systems for the 2014 tax season. Only 10% of IRS were open during the government shutdown. This put the IRS behind by almost 3 weeks.

Posted November 4, 2013
Tips

Bundle expenses for itemized deductions.

Will your itemized deductions for 2013 be right around the standard reduction amount? If so, you can bundle expenses for every other year and claim the standard deduction in the in between years. Over two years, this will significantly cut how much income you’re taxed on.

Posted November 4, 2013
Tips

Deferring income could lower your taxes!

Posted November 4, 2013
Tips

Did you know anyone paid for babysitting has to report that income to the IRS? Or let’s say you and a neighbor want to trade cars, you’ll still have to pay taxes on what the fair market value of the car you bartered. But not all income is taxable. Here are some examples of income you don’t have to pay taxes on:

Posted October 29, 2013
Tips

College tuition is rising. In fact, it has risen in costs 500% since 1985! It is outpacing inflation by 121%. Not only is it outpacing inflation but it has eclipsed rising healthcare costs by 286%! Yikes!

Posted October 1, 2013