If you were subject to a casualty loss and received a reimbursement from your insurance company, this can result in taxable income. There are specific rules related to casualty gains that can help you determine how this affects your situation. Read more.
The home office tax deduction is a tricky area of the tax code. Some taxpayers are so wary of the deduction that they simply opt not to take it. If you’re in this group, read the common mistakes and then get help. Don’t miss out
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Cosigning a loan for a friend or family member may seem like a good way to help your loved one establish credit or get back on track financially. But be sure to use your head as well as your heart to make the decision. Why?
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When you get a job with a new company, you have a decision to make. What are you going to do with the retirement savings you have built in your 401(k) plan? You have four options. Read more.
For most of us, summertime is a bit more relaxed, giving us time to do the tasks we tend to put off. Consider making time to take care of tax and financial tasks. Examples include planning for college or retirement, getting your will written, or
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When facing life’s inevitable bumps in the road, an emergency fund is essential to maintaining financial security. Here are four ways to get started. Read more.
Withholding too much tax from your wages isn’t wise in the long run. Try to match withholding as closely as possible to your actual tax liability for the year. Invest the extra money in yourself, not the IRS.
The statistics are staggering. The majority of Americans do not save for retirement or have not saved enough for retirement. Make sure you’re taking these three steps to be financially prepared for your retirement. Read more.
Saving for your children’s education or your own retirement – how do you decide which is more important? A typical retirement will generally last longer and cost more than your child’s education. If you cannot adequately fund both, maximize your retirement savings first. There are
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Now is the time to begin midyear tax planning. Take time to review some important terms that are all about saving money on your tax return.
