What You Need To Know About Claiming Older Dependents On Taxes

What You Need To Know About Claiming Older Dependents On Taxes

If you look out financially for an older loved one, the government gives you a reward for your kindness come tax time. Those looking to claim people who aren’t their children as dependents when they file their taxes should go over the rules to make sure they qualify. [More]

IRS Says It's Ready To Field Your E-Filings

IRS Says It's Ready To Field Your E-Filings

If you’re organized enough to have all your tax documents in order, you can go ahead and get a jump on the tax season by e-filing. The Internal Revenue Service says it’s ready to process tax returns filed online. [More]

Not All Charitable Donations Become Tax Deductions

Not All Charitable Donations Become Tax Deductions

Whenever you fill your heart with joy by contributing to a worthy cause, you get the bonus assurance that you’ll see further benefits from the donation come tax time. But the belief is not always well founded, because in the eyes of the IRS, not all charitable donations are created equal. [More]

Self-Employed Taxpayers Get Bigger Deduction For Medical Expenses

Self-Employed Taxpayers Get Bigger Deduction For Medical Expenses

As a self-employed certified tax cat, I make sure to take advantage of every opportunity possible to reduce my taxable income. The health insurance premiums I pay for me and my litter have always worked to bring that number down, but they never did anything to reduce the amount I had to pay in Medicare and Social Security taxes. Until now. [More]

12 Scams To Watch Out For During Tax Time

12 Scams To Watch Out For During Tax Time

For the last several years, the IRS has released their Dirty Dozen list of tax scams, including schemes involving return preparer fraud, hiding income offshore and phishing. They recently posted the 2010 version on their website. [More]