Taxes

Can Gifting Stock Reduce My Tax Bill?

Are there tax advantages to donating stock to charities rather than cash? While donating cash to charities is most common, investors can get more bang for their charitable bucks by gifting stock instead. Either strategy can help reduce your...

What is Withholding (taxes)?

Withholding (taxes) is an amount of an employee's income that an employer sends directly to the federal, state, or local tax authority as partial payment of that individual's tax liability for the year. When a person starts a new job, he/she is...

Explore the Muni-verse

You’ve probably heard of the phrase “tax-free municipal bonds” and wondered what they are, and whether they have a place in your financial plans. If you are tax-sensitive (i.e. looking to keep taxes low), and seeking to preserve assets while...

Home Office? Check. Deduct it? Hmmmm....

Business owners love to find ways to lower their taxes. But the IRS has lots of finicky rules for home office deductions that make it less appealing than it might seem at first glance. But all that is about to change. The IRS has announced a new...

The #1 Tax Problem You Don't Want

Whether you’re raking in big profits or your business is in its infancy, you must keep your business and personal finances separate—for tax purposes and two other important reasons. First, in order to grow your company (and not get tripped up by...

Tax Facts for the Jobless

If you were unemployed in 2012, or if you’re still out of work, make sure you know your tax facts—many Americans don’t. Did you know...    …that unemployment benefits are taxable? If you collected unemployment during 2010, you will get a 1099-G,...

The Scoop on Home Office Deductions

Ah, that pesky home-office deduction. For those who work from home, it can be a valuable tax break, but it’s also a tricky one—especially if you own your home. Want to check it out? First, let’s see if you’re eligible.You qualify for the deduction...

Which Financial Docs Are OK to Chuck?

Every year around tax time, you face the same stack of old folders and files—and every year you ask yourself: Which ones can I toss? Here's the lowdown: ANNUAL WEEDING After the end of the calendar year, many of the year’s papers can be pruned...

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