Before you think "that will never happen to me" or "I will deal with it once it happens," remember, a few minutes of advance planning is better than the angst of post-disaster documentation searching and replacement.
As America's children grow up and enter into the health insurance marketplace on their own, they will be the first generation who simply will not understand what the terms 'pre-existing condition' and 'lifetime cap' mean.
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.
While you can't get time spent on home improvements back, you can often get some of your dollars returned either at tax time or when you sell, provided that you track of all of your costs as you own and work on your home.
Not only are there a great many tax considerations related to fatherhood, many of them are often overlooked. So to mark Father's Day, here are some tax-specific ways to take advantage of the unique benefits of being a dad.
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.
Our whole national argument about taxes -- we pay too much! They pay too little! -- is misplaced. At best, it's a proxy for the real argument we should be having. To use Holmes's terms, we argue endlessly about the price when we should be debating the civilization.
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.
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.
Even for tax filers who file in those last few days, April 1-15, those tax returns may be impacted by IRS layoffs due to sequestration as they would likely be processed after April 15. Don't take chances with your tax return. File your taxes now. Get it done. Get that big refund, and go enjoy it.