Taxes

These Taxpayers Beat the IRS
Taxes

These Taxpayers Beat the IRS

Edward Mendlowitz, CPA, ABV, PFS | October 20, 2017

Taxpayers who challenge the IRS in court are able to win nearly 20% of the time. Here are recent victories that could help other taxpayers save money.

Substantiate Your Deductions…Or Kiss Them Good-bye
The Pay-Less-Tax Man

Substantiate Your Deductions…Or Kiss Them Good-bye

Edward Mendlowitz, CPA, ABV, PFS | October 16, 2017

Many tax filers claim legitimate deductions only to have them disallowed because they can’t substantiate them. Here’s how to prove all your deductions.

Second-Marriage Tax Considerations
The Pay-Less-Tax Man

Second-Marriage Tax Considerations

Edward Mendlowitz, CPA, ABV, PFS | September 15, 2017

Tax issues with a second marriage are much more complex than with a first marriage. Planning beforehand can save a lot of time, worry and money later.

8 IRS Audit Flags
Tax Planning

8 IRS Audit Flags

Abby Eisenkraft, EA | August 3, 2017

Anyone can get audited by the IRS. An audit can be random…it can be related to a transaction you made…

Surprising Tax Break for Renting Out Your Home
Taxes

Surprising Tax Break for Renting Out Your Home

Stephen Fishman, JD | June 25, 2017

If you rent out your home or even a room in your home (or your vacation property) for at least 15 days a year, you can get a surprising tax break.

Surprising Taxes on IRAs
Tax Planning

Surprising Taxes on IRAs

Ed Slott, CPA | May 8, 2017

One of the most appealing features of a traditional individual retirement account (IRA) is that you don’t pay income tax…

Questions to Ask When Hiring a Tax Preparer

Questions to Ask When Hiring a Tax Preparer

Scott Estill | August 21, 2016

Enlisting a professional to prepare your taxes can help ensure that your return is completed in the best possible way—and…

7 Things You Didn’t Know Are Taxable
Cutting Taxes

7 Things You Didn’t Know Are Taxable

Greg Rosica, CPA, CFP | January 12, 2016

Ignore Them at Your Own Risk Buried treasure…generous gifts from your employer…and that iPad you got as a gift for…

Last-Minute Tax Savers
Cutting Taxes

Last-Minute Tax Savers

Greg Rosica, CPA, CFP | November 11, 2015

Steps to Take Before Year-End Now is a great time of year to find tax savings. Enough of the year…

Surprising Medical Deductions
Cutting Taxes

Surprising Medical Deductions

Lawrence K.Y. Pon, CPA/PFS, CFP | November 4, 2015

Ranging from Home Renovations to Clarinet Lessons Family medical costs continue to rise, with more than half the respondents in…

These Taxpayers Fought the IRS—and They Won!
Taxes

These Taxpayers Fought the IRS—and They Won!

James Glass, Esq. | October 14, 2015

Money-Saving Tips for Us All These recent victories by taxpayers over the IRS highlight tax-saving strategies that you might use…

5 Tax Mistakes That Trap Widows and Widowers
Tax Planning

5 Tax Mistakes That Trap Widows and Widowers

Amy Wang, CPA | October 7, 2015

Taxes are not the first thing on someone’s mind after the death of a spouse, but they are something that…

5 Most Overlooked Tax Deductions
Cutting Taxes

5 Most Overlooked Tax Deductions

Thomas J. Henske, CFP, ChFC, CFS, CLU, CLTC | April 1, 2015

Tax time is probably the least fun time of year, and everyone who owes the government usually waits till the…

Taxpayer Victories (and Defeats) Can Save You $$$
Taxes

Taxpayer Victories (and Defeats) Can Save You $$$

Barbara Weltman, Esq. | December 8, 2014

Tax rules are not always clear-cut. Several recent rulings, including some victories for taxpayers and some defeats, help clarify the…

How to Save Big on Taxes in Retirement
Tax Planning

How to Save Big on Taxes in Retirement

Jonathan ­Clements | October 9, 2014

Here's another reason to love retirement—the ability to save big money by managing your annual tax bill. Once retired, you…