Jan 27 Changes in Homeowners’ Deductions for Mortgage Interest and Taxes
What are the rules that apply to deductions for interest payments on mortgages? They can get confusing....
Jan 27 What Is a Dead Cat Bounce?
Has anybody actually ever seen a real dead cat bouncing after the animal has been dropped from a great height? Unlikely, but that colorful term is used to describe a technical phenomenon that occurs during a significant market downtrend....
Jan 15 Is It a Hobby or a Business?
Is your hobby a business? It matters to the IRS. The agency says your hobby is a business if it operates to make a profit. But it's not a simple determination. Here are some factors the IRS offers to help you ascertain whether your...
Jan 15 3 Reasons To Pay Above the Minimum Wage
Enacted in 1938, the Fair Labor Standards Act governs the federal minimum wage, among other things. Last increased in 2009, the federal minimum wage stands at $7.25 per hour. Many states and some localities have their own minimum wage laws that set the minimum higher...
Jan 03 Residential Solar Power: Tax Breaks and Savings
For a long time, residential solar power was cost prohibitive for most people, but that's changed in recent years. Now, installation is far more accessible, and the energy cost savings are well worth it for many homeowners....
Jan 03 How Do Taxes Work With Bonuses?
Both owners and employees often misunderstand how taxes work with bonuses, leading to confusion and frustration. Fortunately, with some education and preparation, the situation can work out for everyone....
Dec 16 Can You Take Advantage of the WOTC?
The IRS explains that businesses of any size can qualify for the WOTC when they hire individuals from eligible groups who regularly face major obstacles to employment....
Dec 16 Give Your Heirs a Fair Shake
For some simple estates, all you may need to do is split your assets in equal proportions among heirs. In other instances, however, you have more complex issues to confront....
Dec 06 IRS Update on Student Loan Relief
In late September, the IRS sent out some new details on student loan relief, which was announced earlier this year. It has also provided links for further information. Meanwhile opponents of loan relief are taking legal action to try to prevent it, although the administration continues to...
Dec 01 It’s Always a Good Time to Check Withholding
In general, the IRS advises taxpayers to make changes if they hold more than one job at a time or have income from sources not subject to withholding. Taxpayers who don't make the necessary changes could get an unpleasant surprise when filing. They could owe...