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Income Taxes

2014 Tax Season Filing Requirements for Seniors

Jim T. Miller | Posted 04.20.2014 | Fifty
Jim T. Miller

Whether or not you are required to file a federal income tax return this year depends on your gross income, as well as your filing status and age.

What's Deductible for Legal Fees When Couples Divorce

Julian Block | Posted 04.05.2014 | Divorce
Julian Block

The IRS prohibits any deduction for the cost of personal advice, counseling and legal action in a divorce. For example, there's no write-off for what a husband spends to resist his wife's demands for more alimony or to set aside a pre¬nuptial property agreement.

What Determines a Healthy Economy?

David Bergstein | Posted 04.02.2014 | Business
David Bergstein

There are countless ways to explain and decipher the inner-workings of the US and world economies. But little is actually discussed about the underpinnings of what truly defines a healthy economy. It's not complicated.

Ten Tips to a Faster Refund

Mark Steber | Posted 03.23.2014 | Money
Mark Steber

With over 75 percent of all tax filers getting a tax refund and the average federal tax refund at about $3,000, what should you know to get your refund as fast and safely as possible? Here are some steps you can take.

Audit Survival Strategies

Julian Block | Posted 03.15.2014 | Money
Julian Block

Just because you can back up every item on your return, don't think you can forget about an audit. Those relentless IRS computers may bounce your retu...

Tough Rules for Home-Office Deductions

Julian Block | Posted 03.04.2014 | Business
Julian Block

The law allows freelancers and other individuals who work at home to claim home-office deductions only if they pass a series of tests. You must use a ...

Financial Tips That Ease the Sting of Divorce

Julian Block | Posted 02.24.2014 | Divorce
Julian Block

Educate yourself for financial planning. In this lumbering economy, it's more vital than ever that you assume greater responsibility for your financial future.

Santa's Tax Return

Mark Steber | Posted 02.19.2014 | Money
Mark Steber

Given that tax season is right around the corner, what could Santa expect when he files?

Before The Ball Drops: Smart Money Moves to Make by Dec. 31

Women & Co | Posted 02.19.2014 | Money
Women & Co

As you're wrapping up your finances for 2013, you may want to think about making a few moves that could mean more money for retirement, a smaller tax bill and perhaps some new eyeglasses.

No Tax Break if Client Stiffs You

Julian Block | Posted 02.11.2014 | Money
Julian Block

Why should freelancers forget about any kind of relief when they fill out their tax forms?

How The Tax Rules Work When You Refinance Your Home Mortgage

Julian Block | Posted 02.09.2014 | Money
Julian Block

Recent drops in interest rates have prompted millions of households to refinance their mortgages. Borrowers who refinance need to familiarize themselves with tricky tax rules on what is or isn't deductible for interest payments. Here are some reminders on how the rules work.

15 Things to Know, to Do and to Watch for as 2013 Comes to a Close

Mark Steber | Posted 01.23.2014 | Money
Mark Steber

Thanksgiving is nearing, and December is right around the corner. I've said it before--it's never too early to start thinking about your tax situation. Taxes are always complicated, seemingly ever changing, and so is your life.

What Obama Has Done About Inequality

Ian Reifowitz | Posted 01.23.2014 | Politics
Ian Reifowitz

Tax rates fell on the wealthy after 1980, while their incomes skyrocketed. But how strong is the correlation between falling tax rates on the wealthiest among us and economic inequality?

What You Need to Know About Education Tax Credit Considerations

Mark Steber | Posted 01.23.2014 | Business
Mark Steber

Are you taking a personal finance course or courses to learn how to better manage your portfolio or retirement planning? If so, you may be sitting on some very valuable tax credits.

Why Pensions Matter to Each of Us and Our Wallets Now

Madeleine Doubek | Posted 10.28.2013 | Chicago
Madeleine Doubek

In one way or another, it all comes back to our pension crisis, the worst financial crisis we've ever encountered. Care more now? Act. Tell your state officials they must act. Demand a solution that works.

IRS Benefits the Wealthy and Penalizes the Middle Class

Grant Cardone | Posted 09.11.2013 | Small Business
Grant Cardone

The current complicated tax code benefits only the wealthy and creates an unfair advantage that penalizes the middle class. The IRS currently gives th...

What About Unmarried Equality?

Bella DePaulo | Posted 08.30.2013 | Impact
Bella DePaulo

When I saw the Prop 8 plaintiffs huddled around the cell phone, hearing the President of the United States personally congratulating them on their rol...

Harsh Realities Snarl Controversial GOP-Backed Reform Effort

Reuters | Posted 06.23.2013 | Politics

* Louisiana, Nebraska stall; Kansas pushes ahead * Lobbyists gear up for fight in North Carolina By Nanette Byrnes ...

Hate Filing Your Tax Return? Good

Joseph J. Thorndike | Posted 06.03.2013 | Business
Joseph J. Thorndike

People everywhere hate taxes. What makes the United States distinctive, I think, is our insistence on collecting so much of our tax revenue in a distinctly unpleasant way. No stealthy value-added taxes for us! We're going to do it the hard way.

When Tax Avoidance Crosses the Line

Christopher Bergin | Posted 05.12.2013 | Politics
Christopher Bergin

With the economy showing signs of recovery, it's high time that our federal lawmakers move beyond these self-induced crises and begin to talk about tax reform that can help taxpayers move forward with a clear understanding of how the tax code works and how much they owe.

The Tax Break That May Benefit Your Unborn Child

Posted 02.26.2013 | Black Voices

Although a recent report showed that one in five taxpayers eligible for the the Earned Income Tax Credit (EITC) will fail to claim it, researchers fro...

The IRS Sequestration: Why You Should Care, and What It Means

Mark Steber | Posted 04.17.2013 | Business
Mark Steber

With late-breaking fiscal cliff tax legislation this year, the many tax law changes, delays in the start of tax season and important forms, just about everything needed to get your taxes done is working well right now, but that all could change after March 1.

Tax Season Is Here - Here's What's Different This Year

Mark Steber | Posted 04.10.2013 | Business
Mark Steber

The signing of the American Taxpayer Relief Act of 2012 extended many expiring tax deductions and credits through 2013. With these changes come updates to the forms you use at tax time. What can you expect to see this tax season?

What To Do When Unexpected Expenses Occur

Drew Hendricks | Posted 04.03.2013 | Business
Drew Hendricks

Unexpected expenses are almost a guaranteed way to make sure that a person or family breaks their budget. There are ways to make sure that things such as a higher tax bill, car repair, or unexpected trip do not ruin you or your family financially.

The Income Tax Is Inquisitorial -- Get Over It

Joseph J. Thorndike | Posted 04.01.2013 | Politics
Joseph J. Thorndike

Basically, income taxes require vigorous enforcement. If people don't like that sort of heavy handed tax collection, then there are always options with (arguably) less intrusive procedures.