Losing your job is one of the most stressful things you can go through. However, it doesn’t give you an excuse to not pay your taxes or pay attention to tax deductions that you qualify for. Unemployment checks are taxable It is important to remember that unemployment compensation is taxable. Take it from me,...
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For many people, tax season is a dreaded time of year. They worry about keeping up with all of their deductions, the possibility of owing a substantial tax or if they will be audited for their past years’ tax returns. However, one thing that doesn’t have to be a chore is finding a reliable...
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Photo: Casey Serin Being a parent is perhaps one of the most important responsibilities in life. And the IRS provides multiple tax deductions for it. Why not lower your taxes and get all of the tax deductions you qualify for, as a parent? 1. Dependents – In most cases, a child can be claimed...
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The new tax law, signed by President Obama on December 17, 2010, temporarily extends the 2001 – 2003 federal income tax rate cuts, extends unemployment for 13 months, implements new payroll tax breaks, reestablishes the estate tax, and more. This is good news for most taxpayers. With this long recession, we all need tax...
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Good news, folks! Not only is 2011 the year for extension of tax cuts, but it’s also the year we get 3 extra days to file our taxes. Tax day has been extended to April 18 for 2011 only. Why? Emancipation Day, a holiday that celebrates the freeing of slaves in Washington D.C. falls...
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