Tag: deductions

Gambling, Wins and Losses What happens in Vegas, stays in Vegas.  Unfortunately, the IRS tends to disagree with that sentiment, especially when it comes to your taxes.  Whether you are a consistent gambler or your winnings (or losses) are the …

Gambling With Your Taxes Read More »

Tagged with: , , , , , , , , , , , , , , , ,

Over the summer months, some people might travel to participate in charity work.  Not only is that a wonderful, selfless contribution to society, but it could also be tax deductible!  For the purposes of this blog we will not be …

Taxes and Traveling for Charity Read More »

Tagged with: , , , , , , , , , , , , , ,

Summer Jobs and Taxes A summer job is a rite of passage for most teenagers.  It gives a taste of responsibility, builds character, and most importantly- extra spending money.  The lure of making extra money in the summer is quite …

Teens And Taxes- What You Need to Know Read More »

Tagged with: , , , , , , , ,

As 2016 is quickly drawing to a close, we are preparing for another busy tax season. In just a few more weeks, it will be time to begin gathering all of your important papers. Employers will be mailing out the …

Tax Questions Common During Tax Season Read More »

Tagged with: , , , , , , , , , , , ,

We all know some of the most basic things every taxpayer should know. We [usually] know the date to file by, what our filing status is, and for what fiscal year we are filing. These things typically go without saying, …

Things Every Taxpayer Should Know Read More »

Tagged with: , , , , , , , , , , ,

Inflated Refund Claims Remain on the IRS “Dirty Dozen” List of Tax Scams for the 2015 Filing Season WASHINGTON — The Internal Revenue Service today warned taxpayers to be on the lookout for unscrupulous tax return preparers pushing inflated tax …

Scam Artists Lure Victims Promising Outlandish Refunds! Read More »

Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , ,

Nearly everyone is affected by the Affordable Care Act and will need to do something new when filing their taxes this year.  The following chart will help you better understand how the health care law affects you and everyone on your …

The Health Care Law’s Effect on Your Taxes Read More »

Tagged with: , , , , , , , , , , , ,

Millions of people enjoy hobbies that are also a source of income. Some examples include stamp and coin collecting, craft making, and horsemanship. You must report on your tax return the income you earn from a hobby. The rules for …

Basic Tax Tips about Hobbies Read More »

Tagged with: , , , , , , , , , ,

Many parents pay for childcare or day camps in the summer while they work. If this applies to you, your costs may qualify for a federal tax credit that can lower your taxes. Here are 10 facts that you should …

Get Credit for Child and Dependent Care This Summer Read More »

Tagged with: , , , , , , , , ,

Tax Season Warning: $25K Donation Deduction Denied David and Veronda Durden contributed $25,171 to their church a few years ago, taking the itemized tax deduction. The IRS challenged their deduction on a technicality, and the Tax Court sided with the …

Tax Season Warning: $25K Donation Deduction Denied Read More »

Tagged with: , , , , , , , , ,