Are you approaching retirement age and wondering where you can retire to make your retirement nest egg last longer? Retiring abroad may be the answer. But first, it’s important to look at the tax suggestions if retiring overseas because not all Continue reading Tax Suggestions if Retiring Overseas→
Resolving a Notice from the IRS; Eight Facts to Know
The IRS sends millions of letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be easily dealt with without having to call or visit an IRS office. Here are eight things you should know about if you receive a notice or Continue reading Resolving a Notice from the IRS→
A friend criticized my selection of this “Nanny Tax” article for my Blog. I vehemently disagree! Understanding the morass of laws surrounding home-based helpers and Employees and how to legally avoid Taxes on household Employees is crucial! If you doubt me just look-up the history of one of the most accomplished and thoughtful people of my generation: Zoe Baird. If not for some bad advice given to her husband, the Clinton Administration could have avoided the carnage at Waco.
If you adopted or tried to adopt a child in 2014, you may qualify for a tax credit. If your employer helped pay for the costs of an adoption, you may be able to exclude some of your income from tax. Here are ten things you should know about adoption tax benefits. Continue reading Facts about Adoption Tax Benefits→
Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there’s more to it than that.
If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses, which might reduce your federal income tax.
Examples include employee expenses and fees you pay for tax advice. If you itemize, these deductions could lower your tax bill. With that in mind, let’s take a closer look at miscellaneous deductions that might benefit you.
If you moved due to a change in your job or business location or because you started a new job or business, you may be able to deduct your reasonable moving expenses.
Additionally, if you meet the requirements of the tax law for the deduction of moving expenses, you can deduct allowable expenses for a move to the area of a new main job location within the United States or its possessions. Your move may be from one United States location to another or from a foreign country to the United States. Continue reading Which Moving Expenses are Deductible?→
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