Last week, the National Bureau of Economic Research announced that the recession ended in June 2009. According to the announcement, the economic downturn reached a plateau that month and hasn’t decreased since then. In other words, we are now on … [Read more...]
Wedding Taxes: Four Must-Know Tax Facts For Planning Your Big Day
September 21, 2010 by
With a booming wedding industry, I sometimes wonder how it’s even possible that our country is in a recession at all. Now that the average cost of a wedding hovers around $29,000, you’d think that the spending induced by weddings could … [Read more...]
Mid-Year Tax Planning
July 29, 2010 by
It’s almost August, it’s sunny outside, and the last thing you want to think about is your tax bill for 2010. In fact, you have repressed 2009’s tax filing memory so deep that the phrases “April 15th” and “1040 form” don’t ring a bell … [Read more...]
I Received an IRS CP 2000 Letter; What Do I Do?
June 16, 2010 by
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...]
Declare Your Tips!
May 12, 2010 by
For all of you working as a waiter or waitress, bartender, barista, valet, cabbie, pizza delivery driver, or any other job that involves getting paid in tips, I have a tip for you: declare, declare, declare! Although it may be tempting to get … [Read more...]
Avoid These Simple Tax Return Mistakes
April 12, 2010 by
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...]
Home Mortgage Interest Deduction: What You Need to Know
March 5, 2010 by
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
February 16, 2010 by
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...]
