April 21, 2017 8:56 am

If the replacement doors constitute an energy-saving improvement, you may qualify for a tax credit (not a deduction) of up to $500. This dollar limit is lifetime, so if you've already used up the full...

April 21, 2017 8:53 am

You work hard to put money into your IRA, 401(k), or other tax-advantaged retirement savings program. The tax law is designed to encourage savings by giving tax breaks—deductions or exclusion from i...

April 21, 2017 8:49 am

Sorry for your loss, but unfortunately, funeral expenses cannot be claimed as an income tax deduction. If the value of your husband's estate was large enough to require the filing of a federal estate ...

April 21, 2017 8:48 am

If the distribution is a qualified charitable distribution (QCD), enter the total distribution on line 15a of Form 1040. Then, if the total amount distributed is a QCD, enter -0- on line 15b. If only ...

April 7, 2017 8:42 am

Gambling losses (referred to as wagering losses) are deductible only to the extent of gambling winnings. However, the deduction for these losses is not one of the enumerated deductions that can be cla...

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April 21, 2017 8:53 am

You work hard to put money into your IRA, 401(k), or other tax-advantaged retirement savings program. The tax law is designed to encourage savings by giving tax breaks—deductions or exclusion from i...

April 7, 2017 8:10 am

You probably have been paying taxes throughout the year—through withholding on wages and certain other payments or with estimated taxes. However, when it comes time to file your return, you may find...

March 17, 2017 9:18 am

The U.S. Treasury may be holding tax dollars that are owed to you. Unless you file for a refund, you won't get the money; the government doesn't voluntarily send it to you. Here are some situations in...

February 24, 2017 8:00 am

There are many tax breaks that you may take if you have a qualifying child. Unfortunately, there is no single definition for all of these tax breaks. Here are the different definitions; you may be eli...

February 10, 2017 9:00 am

While home ownership in the U.S. is at historic lows (only 63.5% in the third quarter of 2016), there are still millions of individuals who own their own homes. Well, they don't necessarily own them o...

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December 9, 2015 10:12 am

There are about $173 billion in U.S. savings bonds outstanding. This makes this type of investment one of the largest assets held by individuals. Savings bonds enjoy certain special tax treatment. Her...

December 2, 2014 8:30 am

A new tax year is set to dawn shortly and recently released cost-of-living adjustments can help you plan for 2015. Due to low inflation, increases in the tax brackets and other tax items are minimal; ...

November 18, 2014 8:30 am

This year has been a bumpy ride on Wall Street, with dramatic swings up and down. Now is a good time to review your retirement account and your personal portfolio. While changes you make in your retir...

November 4, 2014 8:30 am

Medicare is a government health program primarily for the 49 million Americans age 65 and older. Those covered by Medicare are deemed to have minimum essential health coverage as required by the Affor...

October 21, 2014 8:30 am

Concerned about care if you should experience a chronic condition or just old age requiring assistance for your daily living activities? You should be, because the cost of long-term care—in your hom...

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April 21, 2017 8:56 am

If the replacement doors constitute an energy-saving improvement, you may qualify for a tax credit (not a deduction) of up to $500. This dollar limit is lifetime, so if you've already used up the full...

April 21, 2017 8:49 am

Sorry for your loss, but unfortunately, funeral expenses cannot be claimed as an income tax deduction. If the value of your husband's estate was large enough to require the filing of a federal estate ...

April 21, 2017 8:48 am

If the distribution is a qualified charitable distribution (QCD), enter the total distribution on line 15a of Form 1040. Then, if the total amount distributed is a QCD, enter -0- on line 15b. If only ...

April 7, 2017 8:42 am

Gambling losses (referred to as wagering losses) are deductible only to the extent of gambling winnings. However, the deduction for these losses is not one of the enumerated deductions that can be cla...

April 7, 2017 8:39 am

Roth IRA contributions must be based on earnings as an employee or from self-employment. Executor fees, while included in gross income, are not treated as self-employment income for someone who is not...

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May 22, 2012 1:24 pm
IRS Announces More Flexible Offier-in-Compromise Terms to Help a Greater Number of Struggling Taxpayers Make a Fresh Start, From IRS.gov, 5/21/12
April 23, 2012 10:21 am
Federal Circuit dismisses refund suit based on all-zero returns, From Journal of Accountancy, 4/20/12
April 18, 2012 10:17 am
What's the Most Ridiculous Thing You've Heard This Tax Season?, From CPATrendlines, 4/16/12
April 17, 2012 10:48 am
Celebrities are often in debt to the tax man, From USA Today, 4/17/12
April 11, 2012 11:03 am
Study finds tax deadline day can be deadly on roads, From Foxnews.com, 4/10/12
More Stories
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2017 Tax Supplements

The 2017 e-supplements for these titles are now available!

  • Your Income Tax 2017
  • 1001 Deductions and Tax Breaks 2017
  • Small Business Taxes 2017

Click here to download your FREE supplements.

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“Tax reform is taking the taxes off things that have been taxed in the past and putting taxes on things that haven’t been taxed before.”— Art Buchwald