As we discussed in a recent post, IRS phone scams are becoming an increasingly common way to target vulnerable individuals. Scammers, pretending to be from the IRS, may try to contact you by phone, claiming you owe a certain sum – and requesting your information to pay over the phone. […]
Filing taxes is something we all have to do every year. It’s one of the tasks that adults most dread. You try to do your best to complete everything accurately, but the process is quite complicated – even if you’ve been doing it for years. While you may have done […]
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 […]
If you’re a permanent employee, all of the benefits your employer provides may go largely unnoticed. However, if you’ve recently made the transition from being an employee to being your own boss, the safety net you once took for granted is now conspicuously absent. Your employer-sponsored healthcare is out the […]
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 – […]
If you didn’t file your taxes by the April 18 deadline this year, hopefully, you’ve requested an extension. An extension can give you extra time – up to six months – to file your return. It’s worth noting that for 2022, a six-month extension would push back your filing deadline […]
This is your year. Everything’s falling into place: you started dating a wonderful woman, you landed a great new independent contractor job, you got a considerable pay raise and you treated yourself to a new car. Now you’ve decided to take the plunge: you’re saying goodbye to renting, and you’re […]
Moving to a new home can be time-consuming, exhausting, and expensive. However, many people don’t realize that when they relocate, they may be able to deduct their moving expenses on their tax returns. Depending on how much your move cost, this deduction could spell significant savings. It’s worth noting that […]
If the U.S. Tax Code were food, it would be toast. Dry. Dull. Not particularly appetizing. Yet despite being “boring” toast is a vital food. In cases of extreme nausea, a toast may even save your life. Taxes show us what’s important In her book “The Public Opinion” tax and […]
In his 2003 book “Perfectly Legal” writer and investigative reporter David Cay Johnston delves into the U.S tax laws. His mission was to show how the very rich escape– in a perfectly legal fashion–the paying of taxes. The book raised both eyebrows and concerns. Is the U.S. tax system rigged […]