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How long do I need to keep my tax records?

Every year, you gather together all of your financial documents to file your taxes. Then you probably store them away in a box for a filing cabinet – or digitally on your computer. This process goes on for years. Pretty soon, you have an entire archive of your financial records […]

Tax information

Taking advantage of legal tax shelters

The term “tax shelter” often gets a bad rap. In media coverage, tax shelters are often discussed as fraudulent mechanisms for businesses to illegally avoid paying all of the taxes they owe. However, it’s worth noting that there are legal ways to use tax shelters as well – often with […]

Tax deductions

3 common tax fraud mistakes

As Ben Franklin put it, “nothing is certain but death and taxes.” Whether you prepare your own tax filings or go to a professional to do it, most of us are generally honest with the Internal Revenue Service when it comes to paying taxes. However, mistakes can be made – […]

Tax Crimes