Tax Tips
About Paying Taxes on Your Winnings From Gambling
Gambling winnings are fully taxable and must be reported on your tax return. However, there are a few key differences on how you might have…
How Do I Prove Gambling Losses On My Taxes?
Gambling is full of thrills and excitement, at least for those who enjoy it. What it also comes with is tons of financial implications, and…
What Is Taxable Income?
As you know, U.S. citizens are subject to taxes based on their annual income. There are, however, distinct definitions of what “income” is under federal…
Is Social Security Taxed After Age 70?
Do You Stop Paying Taxes On Social Security At Any Age? Is social security taxed after age 70? In life there are many myths that…
What Happens If You Don’t File Taxes?
Here’s What Happens If You Don’t File Taxes Failure to file your taxes, or filing them late even if you get a tax extension, can…
IRS Code 766: What it Means on Your Transcript
Taxes and good news seldom come together, but that doesn’t mean it never happens. Case in point, you might one day receive your tax transcript…
How IRS Exchange Rates Work When Converting Foreign Currencies to US Tax Dollars
Taxpayers who earn income in a foreign country or financial assets in foreign currencies must report their earnings and assets in US dollars on their…
IRS Publication 502: Yes, You Can Deduct Your Medical and Dental Expenses on Your Tax Return
If you've never heard of the medical expense deduction, you might be in for a treat. The Internal Revenue Service offers you a bit of…
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