Tax Tips

Five Filing Facts for Recently Married or Divorced Taxpayers
If you were married or divorced recently, there are a couple of things you’ll want to do to ensure the name on your tax return matches the name registered with the Social Security Administration.

IRS Presents: Top Ten Tax Time Tips
While the tax filing deadline is more than three months away, it always seems to be here before you know it. Here are the Internal Revenue Service’s top 10 tips that will help your tax filing process run smoother than ever this year.

Eight Tips for Taxpayers Who Owe Money to the IRS
The vast majority of Americans get a tax refund from the IRS each spring, but what do you do if you are one of those who received a tax bill? Here are eight tips for taxpayers who owe money to the IRS.

The Lucky Seven... Gambling Winnings and Loss Tax Tips
You may know when to hold ‘em and when to fold ‘em but do you know how and when to report ‘em? Whether you are playing cards or the slots, it is important to know the rules about reporting gambling winnings and losses.

Five Facts about the Home Office Deduction
With technology making it easier than ever for people to operate a business out of their house, many taxpayers may be able to take a home office deduction when filing their 2009 federal tax return next year.

Expanded Tax Break Available for 2009 First-Time Homebuyers
Qualifying taxpayers who buy a home this year before Dec. 1 can get up to $8,000, or $4,000 for married filing separately.“For first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. “This important change gives qualifying homebuyers cash they do not have to pay back.”

Seven Tips for Students with a Summer Job
Many students get a summer job during their time off from school. Here are the top seven things the IRS wants everyone to know about income earned while working a summer job.

Tax Tips for Recently Married Taxpayers
If you have recently gotten married or plan to get married in the near future, the IRS has some tips to help you avoid stress at tax time.

Tax Benefits for Job Seekers
Many taxpayers spend time during the summer months polishing their résumé and attending career fairs. If you are searching for a job this summer, you may be able to deduct some of your expenses on your tax return. Here are the top six things the IRS wants you to know about deducting costs related to your job search.

Top Seven Tips for Taxpayers Starting a New Business
Anyone starting a new business this summer should be aware of their federal tax responsibilities. Here are the top seven things the IRS wants you to know if you plan on opening a new business this year.

Five Tax Facts about Summertime Child Care Expenses
Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation. Here are five facts the IRS wants you to know about a tax credit available for child care expenses. The Child and Dependent Care Credit is available for expenses incurred during the lazy hazy days of summer and throughout the rest of the year

Seven Facts about the New Sales Tax Deduction for Vehicle Purchases
Taxpayers who buy a new car or several other types of motor vehicles this year may be entitled to a special tax deduction when they file their 2009 federal tax returns next year. The tax break is part of the American Recovery and Reinvestment Act of 2009. Here are seven things you should know about this new deduction:

IRS Announces 2009 Standard Mileage Rates
IR-2008-131, Nov. 24, 2008
WASHINGTON — The Internal Revenue Service today issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2009, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

10 big deductions too many people miss
If you don't know about a potential tax break, you won't take it. Here are the deductions that a lot of taxpayers often forget.

Get the most out of itemizing on taxes
A little planning can help maximize your deductions -- and put money back in your pocket.

Tax shelters still exist and can save you money
Some people still call them loopholes. But Congress created tax shelters for economic reasons -- so using them allows you to further a legitimate national goal.

10 'don't even try it' deductions
People will tell you lots of things are deductible, and you may be able to write off some. But these 10 ideas are more likely to cost you trouble than save you money.