Taxes

What the Fiscal Cliff Really Is

What the Fiscal Cliff Really Is

The term: “Fiscal cliff” sounds dire, but it describes a combination of old tax breaks expiring, new tax increases and federal cutbacks that all take effect by January, 2013.
President Obama or Governor Romney can’t steer…

Repent at Tax Time for a Year of Spending Sins

Repent at Tax Time for a Year of Spending Sins

Every year at this time, because of the inevitable confluence of Easter and tax day, my inner Catholic gets resurrected, big time.
This year’s guilty, post-itemizing revelation: What the hell happened to our budget…

An Easy Paycheck Fix for 2012

An Easy Paycheck Fix for 2012

If your tax refund (or bill) wasn’t quite what you expected, the problem could be that you claimed the wrong number of allowances on your W-4.
Tax expert and CPA Kasey Pittman offers some guidelines on claiming…

Do a Little Math for Your Biggest Refund

Do a Little Math for Your Biggest Refund

Everyone wants to save money on their tax bill. But nearly two-thirds of taxpayers never itemize their deductions—a move that could add up to giving the government free money.
If your itemized deductions are more than the…

Why AMT is Still on the Table

Why AMT is Still on the Table

Want to avoid the Alternative Minimum Tax? We don’t blame you. 
Alas, we Googled around, interviewed experts, and learned… there ain’t nothin’ you can do about it.
The AMT is a “parallel…

Tax Tips from a Pro

Tax Tips from a Pro

Getting a fat refund check from the IRS can feel like winning the lottery—but luck has nothing to do with preparing your tax return.
To help you make the most of your deductions this year, here are some…

Meal Deductions, Explained

Meal Deductions, Explained

One of your employees announces that she’s engaged, and you take her and the office out to lunch to celebrate. In the evening, you take out your business partner to celebrate the company’s one-year anniversary…

A Last-Minute, Year-End Tax Break

A Last-Minute, Year-End Tax Break

While you’re up in the attic or closet-diving for holiday decorations, lock in one last tax deduction by gathering up your old stuff. It could offset a nice chunk of your holiday bill: If you’re…

Flat Taxes: For Better or Worse?

Flat Taxes: For Better or Worse?

Perry and Romney are headed for a confrontation on tax policy. (STEVE MARCUS – REUTERS) By now you’ve figured out that a flat tax is pretty much what it sounds like. In the case of Republican candidate Herman Cain…

What the Payroll Tax ‘Raise’ Really Means

What the Payroll Tax ‘Raise’ Really Means

You’ve probably heard that, starting this month, workers who pay into Social Security will be getting, in effect, a 2% pay increase. Not really. True: some 155 million people will be seeing more cash in their paychecks. Someone earning…

The Best Last-Minute Gift

The Best Last-Minute Gift

You’re out of ideas, almost out of money, and there’s little chance you can get anything shipped by Christmas Eve now anyway. Before you resort to regifting, there is a smart, affordable surprise you can have ready at…

Higher Income, Cuter Husband?

Higher Income, Cuter Husband?

OK, gals—besides a fatter 401k, here’s another benefit to boosting your income: As a woman’s earning power grows, she is more likely to choose an older, more attractive mate, says a new study published in the…

Obama and Your 401k

Obama and Your 401k

President Obama’s administration has been very proactive in dealing with our economic crisis. One area is our 401k. While I do not necessarily agree with some of their actions – because I think touching your 401k or IRA money…

Write It Off

Write It Off

I have a great accountant and always recommend to my clients to take advantage of their relationship with their accountant. If you don’t have one you feel comfortable with, I would consider finding a new one. One of…