Filing for an Extension Isn’t Without Perils
Yes, the federal income tax filing deadline is slightly later than usual this year — April 18 — but it’s now nearly upon us. So, if you haven’t filed your return […]
Estimate Your Tax Liability Before Year-End
Under current pay-as-you-go federal income tax rules, you’re generally required to pay taxes as you earn the related income. Failing to pay the correct amount can result in a penalty […]
Two Options For The Home Office Deduction
When you’re traveling, a shortcut can be a time-saver, but taking it instead of the main route could cost you in other ways. The same is true in tax law, […]
A Tax-Smart Strategy For Your Investments
One of the most common mistakes investors make is forgetting to increase their basis in mutual funds to reflect reinvested dividends. Many mutual fund investors automatically reinvest dividends in additional […]
Nanny Tax Rules Might Affect You
The household employee tax — which you may know as the “nanny tax” — hasn’t made the headlines lately. But the filing requirements still exist, and they may apply to […]
Could Deducting State And Local Sales Taxes Save You More?
For the last several years, taxpayers have been allowed to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes. Although this […]
Have Unrelated Business Taxable Income In Your IRA?
What does unrelated business taxable income have to do with your IRA? You probably think of your individual retirement account as a personal savings vehicle, not a business. Yet it’s […]