The Minnesota Society of CPA’s recently released its annual list of its craziest tax deductions. This list is a survey of its members and the strange and craziest tax deductions that they tried to claim. The below list just goes to show that…
If You Missed the Tax Deadline These Tips Can Help April 15 has come and gone. If you didn’t file a tax return or an extension but should have, you need to take action now. Here are some tax deadline…
Top Eight Tax Tips about Deducting Charitable Contributions When you give a gift to charity that helps the lives of others in need. It may also help you at tax time. You may be able to claim the gift as…
Top Six Tax Tips about the Home Office Deduction If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify you can claim the deduction whether you…
Tax Tips: Top Ten Facts about Adoption Tax Benefits If you adopted or tried to adopt a child in 2014, you may qualify for a tax credit. If your employer helped pay for the costs of an adoption, you may…
Top 10 Tax Tips about Home Mortgage Debt Cancellation If your lender cancels part or all of your debt, you normally must pay tax on that amount. However, the law provides for an exclusion that may apply to homeowners who…
Taxable or Not – What Income Tax Are You Paying? All income is taxable unless the law excludes it. Here are some basic rules you should know to help you file an accurate tax return: Taxed income. Taxable income includes money…
IRS Updates IRS2Go Smartphone App The IRS recently released IRS2Go 5.0, an update to the only official IRS smartphone application. The free mobile app is compatible with both Apple and Android devices. This new version offers a number of safe…
IRS Warns of High Volume on Toll-Free Customer Service Phones; Urges Taxpayers to use IRS.gov Tools for Faster Answers IRS YouTube Videos: When Will I Get My Refund: English / Spanish /ASL Help for Taxpayers: English / ASL Welcome to Free File: English WASHINGTON – The IRS reminded…
Don’t Miss Out on These Tax Tips for Parents Children may help reduce the amount of taxes owed for the year. If you’re a parent, here are several tax tips for parents you should look for when you file your…