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TAX PREPARATION

Finding the Right Tax Preparer for Complex Returns

By The BIDaWIZ Team on January 12th, 2012 at 6:00 pm

There's no doubt you are behind the eight ball if you don't have a plan yet of how your tax return will be filed for this upcoming year. So, how do you go about finding the right tax preparer? .
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TAX ISSUES

What are My Chances of Being Audited by the IRS?

By Susan Ladika on January 12th, 2012 at 2:00 pm

When tax time rolls around, one of the biggest concerns for many taxpayers is how to avoid an IRS audit. Read More.

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TAX PREPARATION

What Tax Changes Do I Need to Know About for Filing 2011 Returns?

By The BIDaWIZ Team on January 11th, 2012 at 2:00 pm

We are heading into the thick of tax season. Any day now you should be receiving W-2 forms from your employer or 1099s if you did any contract work or held investments. As you begin to gather the necessary forms to begin tax preparation, whether you do it yourself or hire an accountant, it's important to acknowledge the changes for this year. .
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TAX PLANNING, TAX PREPARATION

What Happened with the Personal Tax Breaks that were Set to Expire?

By Susan Ladika on January 4th, 2012 at 12:00 pm

The most prominent was the debate over the payroll tax cut. It took weeks of dickering, but Congress finally approved extending the tax cut – but only for two months. That means we’re likely to either see another round of brinksmanship before the cuts are extended again, or payroll taxes will rise. Read More.

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PERSONAL FINANCE, SMALL BUSINESS, TAX ADVICE

2011 Review: Most Popular Tax and Financial Articles

By The BIDaWIZ Team on December 29th, 2011 at 6:30 pm

We’ve reviewed the most viewed tax and financial articles of 2011. Find out what you missed this past year. Read More.

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TAX PREPARATION

How Will the Proposed Real-Time Tax System Impact You?

By The BIDaWIZ Team on December 23rd, 2011 at 2:00 pm

All indications are that the IRS will continue to seriously consider implementing a real-time tax system for individual tax return filings. Despite the benefits, there are several pitfalls with this proposed plan. .
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TAX REPORTING, TAX SAVINGS

What The Two Month Payroll Tax Cut Extension Means for You

By The BIDaWIZ Team on December 23rd, 2011 at 12:00 pm

Federal lawmakers finally reached a compromise or at least for the next two months on the payroll tax cut extension. While the average taxpayer will keep an extra $83 in their pockets, employers may have been dealt a major blow. Read More.

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TAX PLANNING

What Should I Know to Avoid the Alternative Minimum Tax?

By Susan Ladika on December 21st, 2011 at 1:00 pm

The alternative minimum tax (AMT) was originally created as a way to ensure that wealthy taxpayers not take advantage of tax loopholes and instead pay a minimum amount of federal income tax. While it's a worthy goal, the AMT has not been adjusted for inflation, so the number of people required to pay the AMT grows. But the brouhaha in Congress over the payroll tax holiday also leaves the AMT "patch" - which limits the number of people required to pay alternative minimum tax – up in the air. .
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TAX PLANNING

A Rundown of the Individual Tax Breaks Set to Expire at Year End

By The BIDaWIZ Team on December 15th, 2011 at 1:00 pm

Individual year-end tax strategies should account for the breaks that are set to expire come January 2012. Mainly, accelerate the deductions associated with these breaks to get the full benefit of them before it’s gone in 2012. Find out which tax breaks are set to expire and how to prepare. Read More.

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TAX PLANNING

Capital Gains Tax Planning for Year End

By The BIDaWIZ Team on December 15th, 2011 at 12:30 pm

There are two weeks left to act on any investment decisions to limit your capital gains tax exposure. The first step is to review your investment portfolio to determine if selling some losers before year end will offset capital gains you have already realized. Let’s also not forget to consider actual and expected income in this decision. Read More.

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