Archive | Taxes

Important Tax Tips for New Retirees

Most retirees need to start using new tax forms to take advantage of special deductions. Income often decreases enough to put seniors into new tax brackets. If you are near retirement age, these tax tips can help you save time and money:

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5 Easy Tax Tips for Filing Your Own Return in 2012

Don’t you wish there was the “That Was Easy” button you could hit while filing your own taxes? Go ahead, make your own easy button out of paper. You’ll want to hit it after you read these 5 tax tips for 2012!

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IRS Releases 12 Top Tax Scams You Really Need to Avoid

Recently, the IRS released it’s annual “Dirty Dozen” list of tax scams that you need to be aware of and you need to avoid – at all costs.

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CNN: Zuckerberg to Pay $2 Billion in Taxes

Read on to find out why, for Facebook founder and CEO Mark Zuckerberg, a $2 billion tax bill is a small price to pay for huge profits.

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Beware a Bad Income Tax Preparer – It Will Cost You Dearly!

Very valuable article the other day in The Detroit News about the importance of choosing a good income tax preparer. Or, should I say, the importance of NOT choosing a bad one.

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Top 5 Tips For Income Tax Deductions

More Americans anticipate tax returns this year, due in part to the rise in American employment as a whole. But many taxpayers may still leave money unclaimed because of a limited knowledge about available tax deductions. Thus, I present you with the top five tax tips you may be unaware of.

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Your Kids Can Save You Money at Tax Time

While driving home from work the other day, I was listening to a call-in show on NPR. A woman called to find out the best way for her family to save money for their child’s college fund. It made me think about how expensive our little bundles of joy can be. The good news – kids don’t always separate you from your money – sometimes they actually help you keep some! Here are a few ways your kids will help fatten your wallet come tax time.

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Repaying the 2008 First-Time Homebuyer Tax Credit

Did you take advantage of the first-time home buyer tax credit in 2008? If so, you have to pay it back. I wish I was lying, but like George Washington, I can’t tell a lie. Also like George Washington, I have wooden teeth. But all the wooden teeth in the world can’t get me out of paying back this interest-free loan. If you’re in the same boat, read up on the details of this credit and the repayment requirements.

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Major Tax Deductions Left in Limbo

Lawmakers have a plate full of leftovers from 2011 to keep them busy for a while. Even though the New Year is supposed to mean reforms and changes for policymakers, there is still some unfinished business left over from before the ball dropped in New York. More than 50 expiring business and individual tax breaks are still in limbo.

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End of the Year Tax Tips: 8 Tips to Help You Save

Great article in the Detroit News today that we wanted to share here with our readers. It’s about taking advantage of any tax deductions you might be eligible for by the end of the year.

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