Windfalls and the Taxman
A windfall is a sudden, unexpected good fortune. It usually is a sum of money and/or property, and it could be substantial. Taxwise, the windfall may be tax-free income, fully taxable, or something in between. More
Latest Headlines
Expanded Homebuyer CreditFree
President Obama signed into law on November 6th the Worker, Homeownership, and Business Assistance Act of 2009. The act extends unemployment benefits by 20 weeks in states hardest hit by the down economy and by 14 weeks all other states. The law also liberalizes and makes other …More
- Windfalls and the TaxmanFree
- Tax Strategies for Charitable GivingFree
- Have You Received Your Tax Refund?Free
- IRS Says Two Thirds of All Returns Are E-FiledFree
- Health Care Bill Approved by House CommitteesFree
- New IRS Initiative Targets Certain High-Net-Worth IndividualsFree
- Settlement of Disputed Amounts with Bank Not Cancellation of Debt IncomeFree
Tax Tips
Get proof for donations of used clothing and household items.Free
When giving old clothing, appliances, and other household items to charity, be able to show that they are in good used condition or better. Otherwise, no deduction can be taken on your return. The charity may or may not give you a statement about the condition of your donated …More
Ask JK Lasser
A: Yes, indeed it is, to an extent. Here is a simple breakdown. You can deduct your interest up to $2,500 per year. This is available to taxpayers with income under set amounts (different limits apply to single individuals and to joint filers). …More
Small Business Help
Report It All!
Don't neglect to report all your business income. Report any interest on business bank accounts, recoveries of previously deducted bad debts, and any loan forgiveness (unless you opt to reduce certain tax attributes that will impact your taxes down the road).
Personal Finance
Questions on personal finance? Look no further. JK Lasser offers insight into everything from home ownership to retirement and investing.
JK Lasser Download Store
Our download store features bite-sized content from leading experts.
Our featured title: Inherited IRAs: What Your Family Needs to Know.
