Common Tax Schedules: The No-Stress Guide To Filing Your Taxes, Part 4

We're in the middle of the "No-Stress Guide to Filing Your Taxes". We've already covered:A tax document checklist: A guide to get you startedChoosing the best method to file your returnTax software: When to use and how to chooseToday, we'll talk … [Read more...]

Best Tax Software Compared

Ever wondered what the differences are among tax software programs? Maybe that only keeps nerds like me up at night, but there are differences. Examples: The most popular tax software is also the most expensive. And some cheaper programs charge … [Read more...]

Tax Return Preparation Options: Calculator, Computer, or CPA?

As you gather necessary tax documents and prepare to start your tax return, it's time to decide how you are going to file. And these days, you have several choices. You can go old school and break out the pencil and paper. You can buy tax … [Read more...]

Your Tax Document Checklist: The No-Stress Guide To Filing Your Taxes, Part 1

This Website is all about taking confusing, boring topics and presenting them as clearly as possible. And few topics are more confusing and boring than taxes. So whether taxes simply fail to excite you or flat out freak you out, we're going to try … [Read more...]

I Received an IRS CP 2000 Letter; What Do I Do?

A few days ago, I discovered a big fat envelope from the Internal Revenue Service in my mailbox. “Well, this can’t be good,” I thought. Inside was an IRS CP 2000 Letter. It had a friendly-enough-sounding title “We are proposing … [Read more...]

Avoid These Simple Tax Return Mistakes

Tax day is just around the corner -- this Thursday! So if you're hurriedly trying to finish up your tax returns, it’s easy to make a number of simple mistakes as you’re trying to meet the due date. When it comes to completing complex tax … [Read more...]

Gift Tax: Don’t Fear Taxes When You Give (Or Receive)

When generous Aunt Betty slips you a $5,000 check on your birthday, do you have to pay taxes on her cash gift? And when you send an annual donation to your favorite charity or alma mater, does anybody pay taxes on that gift? The answer in both cases … [Read more...]

Home Mortgage Interest Deduction: What You Need to Know

Want to save thousands on your taxes? Consider buying a home. Without a doubt, the home mortgage interest deduction is a major perk of home ownership: the mortgage interest you pay on your home reduces your taxable income. The first-year interest … [Read more...]

Watch Out For The Alternative Minimum Tax

Picture this: You’ve just completed your tax return for the year. You’re stoked because you qualified for a ton of deductions this year, so you’re getting a huge refund. You are about to send of your tax return and sit back and wait for a hefty … [Read more...]

Itemized Deductions: A Beginner’s Guide

Have you ever wondered if you can itemize deductions on your tax return? Actually, have you ever wondered what, exactly, itemizing means? If so, you’ve come to the right place. I’m going to teach you the basics of itemizing: What itemizing is, … [Read more...]