Category: Tax saving tips

Common Tax Mistakes You Need to Avoid

There are nearly 1,000 different tax forms used by the IRS to report tax obligations. It’s no wonder the IRS faces thousands of tax returns with errors each year. Here are some of the most common tax mistakes:

3 Actions to Save for Retirement & 5 Home Office Deduction Mistakes

Three Actions to Save for Retirement

Three Actions to Save for Retirement If you haven’t started saving for retirement or you haven’t saved enough, here are three actions you can take to put you in a better position during your golden years:

July 2017 Tax News: Tax-free Income & Hiring Your Child

July 2017 Tax news

Tax-free Income Yes, that’s correct, there are some forms of income you receive that may be tax-free. Here is a list of eight common sources of tax-free income.

How to Make the Most of Your Tax Refund

Tax refund tips

If you are expecting a tax refund, you might consider investing your refund or using it to increase your financial security. While everyone’s needs are different, here are some optional uses of your refund that may work for you.

August Tax News: IRS Grants, Increase Your Paycheck & Avoiding Penalties

August 2016 tax news

IRS Grants More Time to Benefit From This Tax Credit When you hire workers from specified groups that typically experience high unemployment, you may qualify for a tax break known as the Work Opportunity Tax Credit. You typically have 28

3 Simple Steps to Start Growing Your Savings

You’ve probably heard the expression, “a penny saved is a penny earned.” Ben Franklin’s simple guidance has provided the foundation for savings plans for generations of Americans. His advice remains sound today, but economic conditions and financial demands may cause

Give Financial Gifts This Holiday Season

When planning gifts for children on your holiday list, you might want to think beyond the traditional retail offerings. Consider financial gifts that can bestow benefits for many years to come.

Last Minute Tax Saving Strategies

That ticking you hear is the tax clock winding down – quickly. There is only a very short time left to cut your taxes for 2015. Here are last minute tax saving strategies you can still make before year-end.

Tax Savings Tips: Give Your Kids the Power of a Roth IRA

Would you like to give your child a head start on smart money habits? Here’s a suggestion: Have your child invest in a Roth IRA. Why? The tax-free compounding of contributions and investment returns over your child’s lifetime is a

How to Maximize Tax Benefits of Carryforwards and Carrybacks

Although the tax code contains some exceptions, income is generally taxable in the tax year received and expenses are claimed as deductions in the year paid. But “carryforwards” and “carrybacks” have special rules. In this case, certain losses and deductions