From the category archives:

Taxes

Avoid Common Mistakes When Filing Tax Return

April 12, 2010

The Internal Revenue Service reminded taxpayers to review their tax returns for common errors that could result in delayed refunds. Here are some ways to avoid common tax return errors.
File electronically. If you e-file or Free File, tax software will do the calculations, flag common errors and prompt you for missing [...]

Read the full article →

New for 2010: Tax Credit Helps Small Employers Provide Health Insurance Coverage

April 6, 2010

Many small businesses and tax-exempt organizations that provide health insurance coverage to their employees now qualify for a special tax credit, according to the Internal Revenue Service.
Included in the health care reform legislation, the Patient Protection and Affordable Care Act, approved by Congress and signed by President Obama on March 23, [...]

Read the full article →

10 Tips for Last Minute Income Tax Filers

April 6, 2010

With the April 15 tax filing deadline right around the corner, the Internal Revenue Service offers taxpayers who have not yet filed a few last-minute tips.
1.  Don’t Miss the Deadline
If you have a balance due and don’t file a tax return by April 15, you face interest on the unpaid taxes as [...]

Read the full article →

Avoid These Tax Scams

March 17, 2010

The Internal Revenue Service today issued its 2010 “dirty dozen” list of tax scams. Tax schemes are illegal and can lead to imprisonment and fines for both scam artists and taxpayers. Taxpayers pulled into these schemes must repay unpaid taxes plus interest and penalties. The IRS pursues and shuts down promoters [...]

Read the full article →

Home Entrepeneurs May be Able to Deduct Home Office

March 2, 2010

Looking to claim a home office deduction, you need to complete IRS Form 8829, Expenses for Business Use of Your Home. The form and instructions for it can be downloaded from the IRS Web site.  The form requires a business owner to compute the amount of space in a home that’s [...]

Read the full article →

Check the Status of Your Federal Refund Online

February 15, 2010

Go to the Where’s My Refund? online tool to check on the status of your refund.
You can generally get information about your refund 72 hours after IRS acknowledges receipt of your e-filed return, or three to four weeks after mailing a paper return.
You’ll need to provide the following information from your tax [...]

Read the full article →

2010 Haiti Relief Donations Qualify for Immediate Tax Relief for 2009 Tax Year

February 2, 2010

People who give to charities providing earthquake relief in Haiti can claim these donations on the tax return they are completing this season, according to the Internal Revenue Service.
Taxpayers who itemize deductions on their 2009 return qualify for this special tax relief provision, enacted January 22, 2010. Only cash contributions made to these charities after [...]

Read the full article →

Seven (7) 2009 Tax Law Changes

January 13, 2010

From IRS.gov:

The standard mileage rate for business use of a car, van, pick-up or panel truck is 55 cents for each mile driven. The standard mileage rate for the cost of operating a vehicle for medical reasons or as part of a deductible move is 24 cents per mile. The rate for using a car [...]

Read the full article →

AMT Exemption Increased for One Year

January 13, 2010

From IRS.gov:
For tax-year 2009, Congress raised the alternative minimum tax exemption to the following levels:

$70,950 for a married couple filing a joint return and qualifying widows and widowers, up from $69,950 in 2008
$35,475 for a married person filing separately, up from $34,975
$46,700 for singles and heads of household, up from $46,200

Under current law, these exemption [...]

Read the full article →

Standard Deduction Increases for Most Taxpayers

January 13, 2010

From IRS.gov:
Nearly two out of three taxpayers choose to take the standard deduction rather than itemizing deductions such as mortgage interest and charitable contributions. The basic standard deduction is:

$11,400 for married couples filing a joint return and qualifying widows and widowers, a $500 increase compared with 2008
$5,700 for singles and married individuals filing separate returns, [...]

Read the full article →

← Previous Entries

Office Depot, Inc