Many job search expenses are tax deductible, and knowing what job hunting deductions you qualify for and having your receipts in front of you when you file your taxes can save you some money when you file your taxes.
Since I'm a tax guy, I'm certainly thankful that I work in a field that keeps me engaged and always learning. And also, since I'm a tax guy, this Thanksgiving, let's look at some things to be thankful for from a tax perspective.
You know what time of year it is, micro-businesses! You've faithfully kept your business records, and have estimated and paid your quarterly taxes throughout the year. But December is coming up, and that means it's time to close out 2013.
The upcoming JPMorgan Chase settlement is expected to be the largest corporate settlement in Justice Department history. Unless the Justice Department prevents it, JPMorgan could heap billions of dollars right back onto the shoulders of taxpayers.
There is no more noble a contribution to society than participation in the service of the defense, perpetuation and safety of this country. The tax benefits that are in the law are yours and you have earned them. It is the least the country can do to thank you for your service.
It's summertime, and taxes might not be foremost on your mind. However, there are some uncommon tax credits and deductions that can help families save. Did you know the price of summer camp is a potential tax credit?
Since you'll likely be sleeping a lot less, you may have time to organize the things you need for tax time between feedings, naps and diaper duty. Let's look at some of the changes a new dependent brings to your individual income tax return.
If you claim that you drove 50 miles to the doctor, or spent $2,000 on a new computer for your business, you need to be ready to prove it. So keep good records. So let's look at what you should be keeping track of and how.
It is not a best practice to try to do everything yourself -- even in the short time of start-up or beginning a business. The chances are good that you need the expert services of a local small business in areas such as marketing, bookkeeping, law, and taxes.
Amending a tax return can be very complex. There are many considerations, from determining what is incorrect and what the correct information should be, to knowing what forms to attach, to making sure the state return is amended correctly and timely.
While April 15 is commonly accepted at "tax day," for many taxpayers and especially small business owners, freelancers and self-employed professionals, there are other important "tax days" to keep in mind.
If you're planning to file an extension because you might owe taxes, you should know that an extension only extends the deadline for the forms to be filed. It is not an extension to pay your any taxes you owe.
Whether you're procrastinating filing your returns because you think you'll owe money or caregiving duties haven't left you time to meet with your accountant, consider yourself lucky just this once! That means there's still time for you to claim caregiving expenses on your 2012 tax returns.