Category Archives: IRS Tips

Battling the IRS

There was once a song about battling the law and losing. Fortunately, battling the IRS is possible and sometimes inevitable. Battling the IRS There comes a time when many Americans must take action against the IRS. The IRS can come … Continue reading

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“Flipping” Homes – A Reviving Trend in Real Estate

Prior to the recent economic downturn, flipping real estate was popular.  With mortgage interest rates low and home prices at historical lows, flipping appears to be on the rise again. House flipping is, essentially, purchasing a house or property, improving … Continue reading

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Tax Tips for the Well-traveled Businessperson

As you probably already know, food and lodging expenses can be deducted when you are away from home for business purposes. This may be particularly beneficial to self-employed individuals who travel extensively. Like everything in the tax law, there are … Continue reading

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Employing a Family Member

A way to reduce the overall family tax bill is by employing family members through your business, which allows you to shift income to them and provide them with employment benefits. Employing your Spouse. Reasonable wages paid to your spouse … Continue reading

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Keep the Child Care Credit in Mind for Summer

If you are a working parent or look for work this summer, you may need to pay for the care of your child or children. These expenses may qualify for a tax credit that can reduce your federal income taxes. … Continue reading

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Tax Facts about Summertime Child Care Expenses 

Many parents who work or are looking for work must arrange for care of their children during the school vacation.  If you are one of those, and your children requiring care are under 13 years of age, you may qualify … Continue reading

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Tips for Taxpayers Who Missed the Tax Deadline

The IRS has some advice for taxpayers who missed the tax filing deadline. File as soon as possible.  If you owe federal income tax, you should file and pay as soon as you can to minimize any penalty and interest … Continue reading

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