There’s an old adage regarding the payment of taxes. Essentially, there are two certainties in life: death and taxes. In fact, taxes have been a part of your life since you were born, and you will certainly have to deal with them until you pass away.If you are...
Finding Real Life Solutions To Your Tax Problem
Month: January 2016
Is Uncle Sam entitled to your gambling winnings?
Last week’s Powerball drawing made national headlines as the ultimate jackpot eclipsed $1 billion for the first time. While many people did not want to join in on the 1 in 292 million chance of getting all the numbers correct, scores of people bought tickets...
Could your ignorance be viewed as tax fraud
The federal income tax filing deadline is not for a few months, so dealing with the IRS may not be at the forefront for you in January, but your actions between now and then could subject you to civil or criminal penalties.This is because there may be a difference...
Why bunching expenses may be helpful
In our prior posts, we have discussed the finer points of what goes into determining what your taxable income is. Essentially, it is your total gross income minus allowable exemptions and deductions. Indeed, many people rely on deductions to lower their income (and in...