Continuing our look from Part I at some of the most overlooked tax deductions, we will discuss another five that may affect you or someone you know: State Income Taxes Paid: State taxes paid throughout the year can be included
The U.S. Federal Tax Code is one of the most complicated systems on the planet. With thousands of laws, rules, and regulations that apply to American taxpayers, it can be difficult to stay on top of everything. You may have
In navigating the endless maze of rules and regulations known as the Federal Tax Code, it is easy to miss some important ways to lower your tax burden. Tax credits are available for a myriad of activities and lifestyle choices.
In an effort to lower the carbon footprints of homeowners, the federal government is offering tax credits for energy efficient items covering a number of categories. Unlike deductions, these dollar-for-dollar credits can significantly reduce your tax bill if you qualify.
Preparation is crucial for all businesses. Preparation can help minimize stress and anxiety when dealing with your business taxes. Anyone who has ever been involved with the Boy Scouts knows that the motto of the organization is “be prepared.” Preparation,
Although many may not be aware of it, taxes went up for all employees in 2013. Though on the income tax side, only the highest income earners saw their taxes increase. Congress and the President also allowed the payroll tax
In Part I, we looked at the two types of personal bankruptcy, Chapter 7 & 13, and the primary differences between each. Now we will discuss how a bankruptcy filing may impact your taxes. Here are some three common questions
In recent years, bankruptcy filings have continued at a brisk pace. Many consumers are still feeling the effects of the housing market meltdown in the late 2000s and the financial crisis of 2008. The resulting foreclosures and job losses have
In Part I of our look at the business and economic outlook in 2014, we discussed some of the positive trends such as the strong recovery in the housing and energy sectors. In normal times, simultaneous recoveries in these two
According to many analysts, the outlook for businesses and the economy in 2014 is mostly positive, with some factors that could be cause for concern. Overall, the economy is moving in the right direction. Entering our fifth year of economic
