How To Audit-Proof Your Tax Return Forever: A Recent Close Encounter Of The IRS-Kind

Congress has passed legislation that is supposed to result in a more “sensitive” Internal Revenue Service. You know, not such a lean, mean, tax-collecting machine.

Hmmm . . . . What do...

Many people know that the interest paid on a mortgage is deductible on their income taxes. But they don’t understand how it really works.

When you understand the way a tax deduction works, you should be able to estimate the amount of tax relief you would receive from owning your own...

Honda Natural Gas Cars Issued Massive Tax Credits By IRS

Between global warming and massive increases in fuel prices, many people are reconsidering their transportation. Honda has two natural gas cars the IRS absolutely loves.

Honda Natural Gas Cars Issued Massive Tax Credits By...

Self-employed individuals often work out of their own home. If this is the case with you, heres a primer on home office tax expenses you can claim on your taxes.

Home Office Tax Expenses

America is a country built on small businesses. Yes, the big companies are the darlings of the...

Just the thought of taxes can scare people out of their minds. You have to keep all your records and documents in order to be able to file easier at the end of the year. Home business owners have their own set of allowable deductions that differ from other businesses. You have a chance to save a...

Dreading April?

If you are running a home business, it is important to remember that there are tax deductions for you when tax season rolls around. Of course, you do not want to try to fool the IRS (no one wants to run the risk of being audited!), but you do want to take advantage of...

Each year, the IRS lists various scams taxpayers get caught up in. The top 2005 scams include several that manipulate laws governing charitable groups, abuse credit counseling services or rely on refuted arguments to claim tax exemptions. The agency is warning taxpayers about the growth of...

In the past, clients of NORWESCAP’s Family Self-Sufficiency program in Morris County, NJ have used the tax return they received through the Earned Income Tax Credit (EITC) for a down payment on a car, a security deposit on an apartment or to pay debts, said Penny Olson, the program’s...

Nothing leads to more gnashing of teeth than the thought of preparing your own taxes. Fortunately, there are people out there that do it for a living.

Here Are My Receipts

If the thought of preparing your own taxes makes you queasy, dont worry. Preparing your taxes is a job that...

Concerned about the high cost of healthcare? Worried that your insurance doesnt cover all your costs? Fortunately, a partial solution may be just around the corner. Since January 2004, taxpayers have had a tax savings tool called Health Savings Accounts, or HSAs. These HSAs may solve many of...

Major tax law changes and missed credits will affect millions of taxpayers this year.

There are new guidelines for claiming child-related benefits and new tax breaks for hurricane victims and charitable donors. The alternative minimum tax (AMT) is on track to snare almost 4 million...

Giving Your Car to Charity The New Tax Rules

The IRS has changed the regulations on donating vehicles to charities. If you donated a car last year, you need to read the following to understand the new rules.

Giving Your Car to Charity The New Tax Rules

Millions of people...