Five Ways to Rebuild Your Retirement Savings

In the past couple of years, the stock market has decimated the retirement accounts of many people. Others who lost jobs were forced to tap into retirement savings for living expenses. All in all, the past few years have not been kind to retirement savings. More

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President's Budget Proposals Would Help and Hurt TaxpayersFree

Depending on your overall income, your family situation, and other factors, tax proposals included in the president's budget for fiscal year 2011 would be welcomed or not. …More

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Tax Tips

Keep annuities out of your IRA.Free

. Don’t hold annuities in this tax-sheltered account. You already enjoy income deferral through the IRA, so the annuities do not provide any additional tax break. They do, however, have added costs that you want to avoid. …More

For taxes, age matters!Free
Pay your own premiums on a disability policy.Free
InheritancesFree
New bonus depreciation for 2008Free
Income Earned AbroadFree
Farming-Related BreaksFree
Tax-free income from a vacation home.Free

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Ask JK Lasser

Q: What would be the basis for my deduction of income from collector's items sold at a charity auction — cost or market value?Free

— Submitted by Dewey

A: In general, you'll be able to deduct the fair market value of the prints. How that is determined is a bit tricky. One could argue that the price paid at the auction would be the fair market value. I would be leery of that. I know a charity auction where people pay 6 figures for …More

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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).

Visit our Self-Employment Section »