Paying Taxes
How does a parent know whether to pay a gift tax this year?
For most parents, gift taxes are not even on the radar screen while their child is enrolled in high school. But college can change everything.…
IRS record-keeping rule: What receipts to save in substantiating charitable donations
A fairly recent record-keeping rule has been a surprise for many audited taxpayers. The IRS has tightened up a number of taxpayer loopholes in the…
How to estimate where you stand on income tax withholding
You do not want to use the IRS like a bank account. Believe me, the money withheld from your paycheck would be better spent elsewhere…
How does the Federal Insurance Contributions Act (FICA) affect my taxes?
Calculate your FICA bill and understand what you are paying for You may have noticed a bigger bite out of your paycheck since January, 2013.…
Who does the IRS trust, and are you on the list?
Using IRS data on tax filings and audits in 2012, I look at what types of businesses, tax forms, and income levels are at the…
Why your employer’s gym membership perk may cost you at tax time
As an employee or contractor, we all “perk up” when we hear “perk” because we presume we are about to receive something for free, or…
Money Coach: Do you suffer from taxpayer anxiety disorder?
Are you happy and relieved that April 15 has come and gone? I am! I love tax day, but that wasn’t always true for me.…
Can I get an extension on my tax return?
You can file for an extension on any ground you like. All it takes is filling in Form 4868 to extend the deadline to Oct.…
