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Taxes

End of Year Taxes

Saving at the Last Minute: Year End Tax Tips

The end of the year is a time for holiday celebrations, family bonding, and the omnipresent taxes. Taxes don't always have to be a negative thing, at least not if you know how to take full advantage of the country's tax laws. From concentrating on energy-efficient purchases to avoiding letting your cash go stagnant, there is no shortage of ways you can take action. In that spirit, the list below provides just a few of the dos and don'ts that can get you down the path to making the most of your hard earned money....(more)

Saving on the Run: Managing Taxes at the End of the Year

The end of another year means it is time to consider your upcoming taxes once again. If you want to get the most out of governmental credits and avoid making costly mistakes, then it helps to educate yourself on the dos and don'ts of the year end tax. From charitable donations to college savings plans, you want to encourage growth and eliminate loss as much as possible while also planning ahead and doing some good for the world. The information provided below provides a good place to start the year end tax conversation and should provide you with some ideas you might have otherwise missed....(more)

Your Late: What Happens with Late Taxes?

No one enjoys paying taxes. In fact, sometimes you might allow your dislike of them to delay the filing of them until you are late. What happens if you cannot afford to pay or if you simply just don't pay your taxes on time? In short, nothing good. When you are late, here are a few steps to take to mitigate the damage....(more)

Tax Avoidance

5 Things You Should Know About Taxes Before Selling a Rental Property

Rental property is a great investment. When it comes time for selling rental property, though, the tax code can be complicated. In the eyes of the Internal Revenue Service, selling rental property is different from selling your main home. If tax avoidance is your goal, be sure to familiarize yourself with these concepts before selling a rental property....(more)

It Pays to Give

It is estimated that about 75 percent of American households give away at least a $1,000 of their income each year. Of that money, about 33 percent of it goes to religious organizations while the remaining 66 percent goes to secular activities, including education, health and social welfare. The government supports this charitable giving by giving taxpayers tax deductions on their income taxes. In order to receive tax deductions, donations must be made to reputable organizations. Learning how to identify these organizations and determining what you can donate will show you that it pays to give....(more)

Common Exemptions on Taxes

The federal government offers many exemptions on taxes that apply to everyday expenses and more expensive endeavors. Documenting exemptions lowers your taxable income. Although tax professionals have the expertise to take advantage of nuanced tax breaks, some of the most common exemptions on taxes are listed below....(more)

Filing your Taxes

Identity Theft and Taxes

Identity theft is a major international problem that can affect your tax returns and cause problems with the IRS....(more)

Tax Refund Advances

After Thanksgiving, tax preparation firms start advertising programs to advance taxpayers expecting refunds part of their money....(more)

Electronic Filing a Tax Return is Better Than Mail

Electronic filing of your tax returns is safe and more efficient than mailing the return....(more)

Trish McIntire is an Enrolled Agent with 25 years experience in preparing income tax returns and educating clients about taxes. She began as a seasonal employee for a national tax preparation chain. As her experience increased, Trish became the senior preparer for the office. She was responsible for supervision and... Read More

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