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Trusted Answers From Licensed Business Professionals

Should A Married Couple Ever File Taxes Separately?


In many cases, most married couples file a joint tax return because it's the norm. But, that may not be the best option for all couples. .
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Do I Qualify For The Earned Income Tax Credit?

If you earned $49,078 or less last year, it is highly likely that you will be eligible for the Earned Income Tax Credit (EITC). Although the EITC has existed for decades, it’s been improved and expanded over the years. Yet, 20% or approximately 5 million eligible workers and their families don’t claim the credit when they file. Find out if you qualify for this credit. Read More.

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You may be able to get you income tax refund a bit quicker with a refund anticipation check. But you need to keep in mind that there will be fees to pay, cutting into the amount of cash you'll wind up with in your pocket. .
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When Can I Expect to Receive My Tax Refund This Year?

The IRS warned that tax refunds could be delayed by as much as a week compared to initial projections. The agency is working on “fine-tuning” their anti-fraud systems which may delay refunds for certain taxpayers. When exactly can I expect to receive my refund and how do I track it? Read More.

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What The Two Month Payroll Tax Cut Extension Means for You

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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Year End Charitable Donation Tax Tips for 2011

As we head into the final weeks of December, now is the time to start exploring the most tax savvy ways to donate cash, stock or property. For instance, liquidating investments and donating the proceeds to the charity of your choice is not the best way to handle that situation. Read More.

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Should we Recharacterize our Roth IRAs?

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In 2010, we told you that if you have a traditional IRA (no matter your income level), you can convert those funds into a Roth IRA. Many IRA holders went on to convert to a Roth because the principal and appreciation of a Roth IRA grows tax free. But, now with the recent fall in the market, it may make sense to recharacterize or undo your Roth IRA conversion to avoid paying taxes and then to convert it back later. Read More.

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What are the tax breaks for moving?


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Everyone that already moved or plans to move this year because of a new job or relocation needs know what tax breaks they can claim. The tax savings can easily exceed a few thousand dollars with most family moves costing $5,000 to $10,000. .
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You’re Probably Paying Too Much in Property Taxes


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The housing market still hasn't recovered with many markets down over 30% compared to 2005. Despite this significant decline, property taxes have not been falling much at all and could even be rising for your home. There are steps that you can take to address this discrepancy and potentially save hundreds if not thousands of dollars on your property taxes. .
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Undoing that Roth IRA Conversion Could Save You Thousands


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The hot topic coming from investors of late has been focused on market volatility. While thinking about market exposure is important, let's shift gears a bit to how a down market may provide you with the opportunity to save thousand of dollars in taxes you paid or may pay the IRS for a Roth IRA conversion. .
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