Hurricane Sandy devastated large portions of the East Coast late in October. It left many people without homes; others struggled for days or weeks to regain power and have access to gas for their vehi...
Hurricane Isaac and the devastation it wrought to the Gulf Coast region in August is a reminder that a disaster can strike at any time in any location. Hopefully, you have adequate insurance, such as ...
If your personal car is damaged or destroyed in an accident and the damages are not fully covered by insurance or other reimbursement, you can deduct your loss as a casualty loss, provided you itemize...
Homeowner's insurance may not cover all of your losses resulting from a storm or other unexpected catastrophe. Fortunately, the tax law can help by allowing you to deduct the uninsured loss. Here's wh...
- For purposes of the 3.8% additional Medicare tax on net investment income in 2013, how does this relate to rental income?
- Can I make a direct transfer of my IRA to my church and qualify for tax-free treatment (up to $100,000)? I’m 72 years old.
- I sold my residence at a loss. How do I report this on my tax return?
- We had a cleaning service clean our home because my wife could not because of her medical issues and my being away on business. Can I deduct this cost?
Get Your Old Tax Info.
Last year’s return can provide you with a road map for completing this year’s return. If you don’t have a copy of the return, you can get a free transcript containing all the vital information, including marital status, type of return filed, AGI, taxable income, and later adjustments. There are 2 ways to order your transcript:
- Go to https://sa2.www4.irs.gov/irfof-tra/start.do (you’ll need your Social Security number, date of birth, and street address with zip code).
- Call 800-908-8846.
The IRS reported that the total number of these self-employed individuals (many of whom are independent contractors) grew by 1.9% over the period from 2002 to 2005. However, growth in certain areas was more dramatic: a 9% increase in the Great Lakes area (Illinois, Michigan, and Wisconsin) and a 16% increase in Georgia.
Source: Summer 2008 Statistics of Income Bulletin
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