If you, your spouse or dependents had significant medical or dental costs in 2015, you may be deducting Medical and Dental expenses when you file your tax return. Here are eight things you should know about how to deduct Continue reading Deducting Medical and Dental Expenses→
Are you taking care of an elderly parent or relative? According to the U.S. Census Bureau, there were 44.7 million people age 65 and older in the United States in 2013, more than 15 percent of the total population. We’ll discuss how Continue reading Claiming a Parent as a Dependent→
Is Your Gift Taxable? Seven Tips Determining a Taxable Gift
If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Here are seven tax tips about gifts and determining a taxable gift.
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.