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, whe … [Read more...]

What Are the Chances of Being Audited?

The stress of tax time comes from organizing paperwork, crunching numbers, meeting deadlines and---oh yes---that slight but persistent possibility of having somebody go through your tax return with a magnifying glass looking for errors and omissions. … [Read more...]

Should You Hire a Tax Preparer?

It’s nearly that time of year again. The stress. The procrastination. The arithmetic. The missing receipts. That’s right; it’s almost tax time! Filing taxes and decoding IRS lingo may be some people’s idea of a good time, but for the rest of us, it … [Read more...]

Six Tax Breaks To Look For This Season

For most of us, tax season is anything but a good time. That said, you may just find some fun in unearthing some hidden tax breaks that you’ve been missing out on! And it's a good year for it: the American Recovery & Reinvestment Act (ARRA) of 2009 c … [Read more...]

$6,500 Home Buyer Tax Credit

Good news for prospective home-buyers: It looks like Congress will extend the $8,000 first-time home buyer tax credit that was slated to end this month and add a $6,500 tax credit for those that have already owned a home. The Senate voted 98-0 … [Read more...]

$15,000 Home Buyer Tax Credit?

The $8,000 first-time home buyer tax credit program has been such a success, Washington is asking: Can we live without it? That credit is set to expire on December 1, 2009, but Sen. Johnny Isakson, (R-Ga.), has introduced legislation that would … [Read more...]

$8,000 First-Time Home Buyer Tax Credit

My article on the $7,500 first time home buyer tax credit has become one of the most popular on this site, with well over 200 comments. As part of this month's economic stimulus bill, that credit is changing to an $8,000 tax credit that, unlike the … [Read more...]