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- Higher Taxes for the Mass Affluent
- A multitude of recent and proposed law changes aim to raise the taxes of people like you. Here are a few key steps that could help you head off these impending tax hikes. ...
- Articles 2009-05-04
- Health Care Reform: What It Will Cost You
- Despite what you've heard, it won't be only rich people and "inefficiencies" footing the bill. One way or another, whoever you are, you'll share the costs. Here's how. ...
- Articles 2009-08-10
- Your Guide to Health Care Reform
- How health care reform plays out is just as significant for your wallet as it is for the quality of your medical care. Here are the issues to pay close attention to. Health care reform has dominated the news for weeks, and yet with so many proposals on the table...
- Articles 2009-08-11
Additional Resources
- Self-employed, big itemized deductions top list of IRS audit
- WASHINGTON -- The computer formula used by the IRS to pick income tax returns for audit rivals a nuclear launch code in its secrecy. But some red flags are known: The self-employed and people claiming unusually high itemized deductions are among those more likely to face an audit.
- Research articles 1999-04-08
- Overlooked Tax Deductions
- These tax deductions and credits can mean big savings on your 2008 federal income tax return. But you may not know about them, especially the new ones. So before you send in your return, check out these write-offs and take the ones you're due. ...
- Articles 2009-04-03
- Fixing Forgotten Deductions.
- Byline:Kimberly Lankford, Kiplinger Washington Editors I was just going through my files and came across some canceled checks for charitable contributions I made in 2000 and forgot to include on my taxes. Can I file an amended return?Yes. You can file an...
- Research articles 2001-05-31
- Tax Court Limits Trust Deductions
- Will the Second Circuit Appeals Court Allow Them? The Tax Court has again ruled that a trust's investment advisory fees are subject to the 2% rule that limits miscellaneous itemized deductions. The decision, William L. Rudkin Testamentary Trust (124 T.C. No. 19), held that the trustees could not...
- Research articles 2006-04-01
- Tax Benefits Of Buying
- This tool estimates the tax benefit of buying a home. Input your loan parameters and the month you purchased the home. Since home interest and points are captured in itemized deductions, please estimate your Schedule A itemized deductions. Your itemized deductions including your mortgage deductions will be compared to your...
- Tools & templates 2009-01-01
- Prop. regs. clarify treatment of trust administrative expenses.
- Under Sec. 67a, miscellaneous itemized deductions are allowed only to the extent that they exceed 2% of a taxpayer's adjusted gross income AGI. The AGI of an estate or trust is computed in the same manner as for an individual for these purposes, Under Sec....
- Research articles 2007-10-01
- Tax Tips for the New Jobless
- Exactly how much you can write-off for job-related expenses after you've been laid off depends on how you characterize yourself to the Internal Revenue Service. Here's how to grab all the employment deductions you can when you file your federal income tax return... Most days, being well-off is preferable...
- Articles 2009-03-05
- Tax Benefits Of Buying A Home
- This tool estimates the tax benefit of buying a home. In this tool, your itemized deductions including your mortgage deductions are compared to your standard deduction to calculate the tax benefit of purchasing the home.
- Tools & templates 2008-01-01
- Signs of the times: how tax reform has limited access to moving expense deductions
- Prior to the Tax Reform Act of 1986, moving expenses were permitted as a tax deduction in calculating adjusted gross income AGI if they were incurred by an employee or self-employed individual as a result of a change in the principal place of work. This treatment resulted in a tax...
- Research articles 1994-07-01
- Joining the Free Agent Nation
- With the millions of people who have been let go by large corporations—and the insecurity generated, even among employees who were retained—many people have seriously weighed the prospect of starting their own business. As About.com cleverly put it, why not move from pink slips to deposit slips? At the beginning,...
- Articles 2007-02-28
- Form 1040A, U.S. Individual Income Tax Return
- This is the "Medium size" IRS tax return form, and it should be used by those taxpayers who are not eligible to use the Form 1040EZ short form. There are restrictions on who may use this form, and itemized deductions are not allowed.
- Tools & templates 2006-11-13
- Form 2106, Employee Business Expenses
- If you have expenses that are not reimbursed by your employer, or if your employer does not use an accountable plan, you'll generally have to claim the nonreimbursed expenses on Form 2106. In some cases you may be able to use Form 2106-EZ, Unreimbursed Employee Business Expenses. Then the total...
- Tools & templates 2006-10-26
- Form 2106-EZ, Unreimbursed Employee Business Expenses
- If you have expenses that are not reimbursed by your employer, or if your employer does not use an accountable plan, you'll generally have to claim the nonreimbursed expenses on Form 2106. In some cases you may be able to use Form 2106-EZ, Unreimbursed Employee Business Expenses. Then the total...
- Tools & templates 2006-11-07
- Guilty plea expected from Towson tax preparer in IRS fraud case
- Federal prosecutors in Baltimore have filed a criminal information against the owner of a Towson tax preparation outfit, alleging that her clients' tax returns improperly claimed at least $78,000 in nonexistent itemized deductions.
- Research articles 2003-09-08
- Bloch brothers got into the tax biz as IRS got out of it
- KANSAS CITY -- Henry Bloch didn't set out to create the nation's largest tax-preparation company. In 1955, he and his brother Richard were mainly interested in providing bookkeeping services to small businesses. They did taxes for their customers as a courtesy. Tax returns were only a couple of pages...
- Research articles 2005-02-08
- Federal Tax Update
- Comprehensive Legislation P.L. 109-73, the Katrina Emergency Tax Relief Act of 2005 included the following benefits: * Qualified cash contributions determined in flow through entities at the individual level for 2005 may be deducted by individuals up to 100% of adjusted gross income less other allowable charitable contributions and are...
- Research articles 2006-01-01
- New `pleasing' tax form coming in '96
- The familiar 1040 income tax form is getting its first overhaul in recent memory. The new form - which will debut in 1996 for the '95 tax year - is designed so that machines can read it. The IRS is trying to reduce paper and speed...
- Research articles 1994-09-23
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