Start Getting Ready Now to Itemize Your Deductions for Next Year
Don’t wait until the last minute to itemize your deductions!
Don’t wait until the last minute to itemize your deductions!
Determining what’s a business travel expense and what’s not can be a very gray area. Find out how to clear up the confusion.
Roth IRAs can be mystifying with all the conflicting information out there.
Saving for retirement shouldn’t be complex. Here’s how to keep it simple.
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.
Did you know anyone paid for babysitting has to report that income to the IRS if they made over $600? 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:
Living abroad for work can be a tricky tax situation. In many cases both countries want to tax your income that you’re making while working and living overseas. While many countries have different requirements, here’s what you need to know about the IRS’s requirements.
Looking for work costs money. Things like resume paper and printing, a new suit, and paying for premium online job search services can add up. This can be a little tough on job seekers who are likely unemployed. Sometimes these job seekers even have to take a class or two to be more marketable. The government tries to mitigate these expenses by allowing these folks searching for work deductions on their tax returns.
Starting a new business is exciting! At least until you get the paperwork part. It’s important that you first identify just what type of business you in regards to the IRS.
The most affordable city to go to this summer is the one you live in. Read more