Tax News
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…
Understanding and establishing ‘Material Participation’ for tax purposes
When it comes to your income taxes, U.S. tax law makes a distinction between different types of income — including income from passive investments and…
Special rules for deducting moving expenses
There are many costs associated with moving and they can really add up fast. Fortunately, if you are moving because of a new job, or…
IRS delays start of tax filing season to January 30
The Internal Revenue Service said on Tuesday it will begin accepting 2012 tax filings on January 30, eight days later than originally planned due to…
Insight: In “fiscal cliff” bill, White House was key to corporate tax breaks
As the Congress rushed last week to approve a "fiscal cliff" tax bill that raised income taxes on the wealthy, Washington lobbyists were fretting over…
Mortgage debt relief act is extended
The extension will help homeowners with underwater mortgages One part of the fiscal cliff that was extended will provide at least one more year…
How to file tax extensions in Alabama
Alabama residents are granted an automatic six-month extension if they cannot file on time. However, they must send in payments if they owe them with…
