Taylor Swift concerts are a billion dollar industry and the IRS wants to capture some of the Blank Space. Originally part of the American Rescue Plan of 2021, the threshold for issuing a 1099-K for tr...

What is cryptocurrency? Cryptocurrency is a form of virtual currency that can be used as an alternative fonn of payment using encryption technology, making digital money designed to be used over the i...

As healthcare expenses rise and more companies move to High Deductible Healthcare Plans (HDHP), the Health Savings Account, or HSA, may be a great option for you and your family.  With the release of...

With summer underway, you may be considering some home projects and updates. As you are selecting your next household projects, you may want to consider how your updates can save energy and maximize t...

The initial tax deadline, April 18th, 2023 has come and gone. BUT do not panic, filing an extension by April 18th and paying the estimated tax due minimizes penalties. What is an Extension? Taxp...

It's hurricane season! Did you know many taxpayers affected by disaster situations qualify for tax relief? When the President declares a federal disaster, the IRS issues a disaster announcement. The a...

As the cost of education continues to rise, parents and students look for ways to decrease the financial burden placed on them today. One way to offset these costs is to find and apply for scholarship...

If you are considering updates to your U.S. based home, you may consider taking advantage of the Residential Clean Energy credit which is 30% of the costs from now through 2033. Eligible property incl...

“Kiddie Tax” is the tax paid on a “child’s” investment income in excess of $2,500, at the marginal tax rate of their parents, for the 2023 tax year.  The “Kiddie Tax” was introduced as ...

If you’re a homeowner, it’s likely you continually work on your home. Some projects may be minor and low cost, while others are major and expensive. All these projects improve your living conditio...

Social Security benefits may be tax free or includible in gross income at 50% or 85%. This depends on a couple’s income, Social Security benefits, and tax-exempt interest. The fact that the benefits...

Passive activity losses generally are limited to the extent of passive activity income for the year. Losses in excess of this income are suspended and used in future years when there is passive income...

Margin interest may be deductible as investment interest. It is treated as an itemized deduction, subject to a net investment income limitation. Margin interest does not offset capital gains....

U.S. citizens are taxed on their worldwide income. They must figure gain or loss on the sale of foreign real property. If the foreign property is a residence, the home sale exclusion may apply. Note: ...

For purposes of education tax credits, transportation costs are not treated as qualified educational expenses. When it comes to work-related education that maintains or improves work skills but doesn�...

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

Federal Circuit dismisses refund suit based on all-zero returns, From Journal of Accountancy, 4/20/12

What's the Most Ridiculous Thing You've Heard This Tax Season?, From CPATrendlines, 4/16/12

Celebrities are often in debt to the tax man, From USA Today, 4/17/12

Study finds tax deadline day can be deadly on roads, From Foxnews.com, 4/10/12