From the 'Taxation' Category:

What’s the Difference Between the Annual Gift Tax Exclusion and the Lifetime Gift Tax Exemption?

It’s the holiday season, the time for gift giving. It may also be the time to ask yourself, are you fully informed as to what can you gift to friends and family without a […]

Providing Care for a Family Member May Lead to Tax Benefits

Caring for an elderly parent may be a labor of love, but it may also be financially stressful. In fact, the costs, or the loss of income, can be significant. If you quit a […]

Small Business Myths – 3 Common Misconceptions

One of the best things you can do as part of your business strategy is to incorporate it as a formal entity. But many (in fact, most) business activities are conducted informally with no […]

If you Signed Up for Insurance Under the Affordable Care Act, You May Be Entitled to a Tax Credit

Approximately 7.1 million Americans signed up for health insurance under the Affordable Care Act. According to a poll taken by the Commonwealth Fund, 73% of people who purchased a health plan through the marketplace […]

Tax Provisions Extended Through 2014

In late 2013 we reported that a number of tax credits and deductions would expire at the end of 2013 without action from Congress. Over a year later, Congress passed legislation that would extend […]

Roll Over Beethoven – You’re Limited to One Tax-Free IRA Rollover Per Year

Chuck Berry wrote, “Roll over Beethoven and tell Tschaikowsky the news.” The song refers to how the pioneer of rock and roll thought classical composers might roll over in their graves upon hearing the […]

The Best Ways to Get Yourself Audited by the IRS

Now days, there’s a “best of” list of almost everything under the sun. You can find a majority of these best-of lists online and use them to research which minivan on the market meets […]

Minimize Tax Liability with the Annual Gift Tax Exclusion

The end of the year is an important time to take a quick look at your tax position and make sure that you have done all you can to minimize your tax liabilities. Individuals […]

I Work From Home – Can I Take a Home-Office Deduction?

How many times have you told your boss you’re working from home and won’t be in the office? Are you working at home, or are you watching B-rated movies on cable and checking your […]

Do you Qualify for the Earned Income Tax Credit?

A Virginia woman recently plead guilty to defrauding the federal government’s child tax credit program to the tune of more than $7.2 million. The woman admitted to filing more than 1700 false tax returns […]