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PAYING 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. While many people disregard the need to pay taxes on household employees,...

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TEN TIPS FOR SELLING YOUR HOME

If you’re selling your main home this summer or sometime this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have to report it as income....

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GIVE WITHHOLDING AND PAYMENTS A CHECK-UP TO AVOID A TAX SURPRISE

Some people are surprised to learn they’re due a large Federal income tax refund when they file their tax return. Others are surprised that they owe more taxes than they expected. When this happens,...

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THREE TAX SCAMS TO BE AWARE OF THIS SUMMER

Are you thinking about taxes while you’re enjoying the warm summer months? Not likely! But the IRS wants you to know that scammers ARE thinking about taxes and ways to cheat you out of your money. Tax...

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TAX RULES FOR CHILDREN WITH INVESTMENT INCOME

Children who receive investment income are subject to special tax rules that affect how parents must report a child’s investment income. Some parents can include their child’s investment income on...

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IRS SETS PENALTIES FOR NOT GETTING HEALTHCARE INSURANCE UNDER ACA

August 27, 2013 (UPI) — The IRS said Tuesday it has set the penalty Americans will have to pay for not getting health insurance under the Affordable Care Act, or Obamacare. ——————————————————————————–...

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TAX-FREE WAYS TO SAVE FOR COLLEGE

According to the US Census Bureau, individuals with a Bachelor’s degree have the potential to earn more than double the salary of those with just a high school diploma, so even though tuition and fees...

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TEN TAX BENEFITS FOR MILITARY PERSONNEL

Military personnel and their families face unique life challenges with their duties, expenses and transitions. As such, active members of the U.S. Armed Forces should be aware of all the special tax...

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WHAT IS NON-TAXABLE INCOME?

Most types of income are taxable, but some are not. Income can include money, property or services that you receive. Here are some examples of income that are usually not taxable: • Child support...

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INJURED OR INNOCENT SPOUSE: WHAT’S THE DIFFERENCE?

You may be an injured spouse if you file a joint tax return and all or part of your portion of a refund was, or is expected to be, applied to your spouse’s legally enforceable past due financial...

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