Category Archives: Personal Taxes

Blog entries discussing Personal Taxes

Resolving a Notice from the IRS

Resolving a Notice from the IRS; Eight Facts to Know  

 

Resolving a Notice from the IRS
Resolving a Notice from the IRS

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

Avoid Taxes on Household Employees

Avoid Taxes on Household Employees

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. 

Avoid Taxes on Household Employees
Avoid Taxes on Household Employees

If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement.   Determining whether you can avoid taxes on household Continue reading Avoid Taxes on Household Employees

Maximize Miscellaneous Deductions

Maximize Miscellaneous Deductions

Maximize Miscellaneous Deductions
Maximize Miscellaneous Deductions

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.

Deductions Subject to the Two Percent Limit. You can deduct most miscellaneous expenses only if they exceed two percent of your adjusted gross income. These include expenses such as: Continue reading Maximize Miscellaneous Deductions

Which Moving Expenses are Deductible?

original_moving_croppedIf 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?