If you are paying taxes for the first time, there are a few things you should consider. For one, you must decide on which filing status you fall under. There are three statuses you may be under if you are an individual - Single/head of household, Married filing jointly with spouse and
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Tuesday, February 24, 2015
Monday, February 23, 2015
Do This to Avoid Becoming Prey to Tax Scams
Tax scams increase every year during tax season. So this year is no exception. The IRS has already detected a spike in the number of complaints of tax scams. If you want to make sure you do NOT fall prey to tax scams, do NOT under any circumstances give away your personal information like
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Sunday, February 22, 2015
Fancy that! Large Corporations Keep Profits Overseas Ask for Tax Reduction
CEO's of large corporations that are members of the Business Roundtable have lobbied for a reduction in corporate taxes for their companies. At the same time, these corporations shelter their taxable profits in tax havens like Cayman Islands and Bermuda and have saved some $280 billion in
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Saturday, February 21, 2015
Sweet Tooth Tax?
If you have a sweet tooth, you may be having to pay more taxes soon. The Dietary Guidelines Committee has proposed a tax on sugary foods as part of their plan to fight obesity, which plagues about a third of American adults and about 17 percent of children according to the Center for Disease
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Friday, February 20, 2015
Mistakes that Allow the IRS to Audit You Forever
We all hate the dreaded IRS audit, right? And sometimes even though we have filed our tax return as accurately and honestly as we can our return might still be flagged for audit. The good news is the IRS has a statute of limitation it has to abide by, which means there is a time limit for
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Thursday, February 19, 2015
2015 Dirty Dozen Tax Scams (part 2)
In my previous blog post, I wrote about the first 6 tax scams the IRS is warning you about. They are:
Bogus phone calls
Phishing scams
Identity theft
Fraudulent tax preparer
Offshore tax evasion
Over-the-top tax refund
Here are the final 6 of the IRS’ Dirty Dozen tax
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Bogus phone calls
Phishing scams
Identity theft
Fraudulent tax preparer
Offshore tax evasion
Over-the-top tax refund
Here are the final 6 of the IRS’ Dirty Dozen tax
Read more...
Wednesday, February 18, 2015
Tax-friendly Florida
Recently I highlighted a blog post about the Communications Services Tax (CST) in Florida being the 4th highest in the country. Well, here's another article about taxes in Florida. When you include other taxes and compare Florida with the other states, we're not doing too badly.
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