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How to avoid getting audited
The IRS has been stepping up its efforts to ensure that Americans are accurately reporting the taxes they owe. This means that the IRS is…
Is a live-in girlfriend or boyfriend tax-deductible?
Maybe, if she wasn’t working last year, or didn’t earn very much. A qualifying partner gives you an extra personal exemption, worth $3,800. This works…
Tax-free Coverdell savings accounts saved by Congress
Coverdell education savings accounts have never really drawn many headlines, even when unexpectedly saved from extinction as part of Washington's "fiscal cliff" deal.Much like the…
Two plead guilty in New Jersey over $65 million tax refund fraud
A former U.S. Postal Service carrier and a co-defendant pleaded guilty on Monday over their roles in a scheme to obtain $65 million of bogus…
Mortgage debt forgiveness relief FAQs
Due to the subprime mortgage crisis and the economic recession, millions of homeowners have found themselves struggling to make mortgage payments on properties that have…
How much tax should I have withheld?
Withholding tax (also known as “payroll withholding”) is essentially income tax that is withheld from your wages and sent directly to the IRS by your…
What is a ‘marginal tax rate?’
So glad you asked! Published tax rates are confusing, and cause many people to think they are paying more in taxes than they really are.Your…
How and why your 401(k) is changing
Employers are getting smarter about how they run retirement plans. They are making some moves that are good for younger workers, including automatically enrolling new…
