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Weekly Favorites: Mortgage Deductions, Family Loans, Tax Rules on Early Retirement Plan Withdrawals

TaxACT Weekly Favorites

TaxACT’s Weekly Favorites: May 17, 2013 Where The Mortgage Deduction Really Pays via CNN Money The mortgage interest deduction is one of the most expensive tax breaks on the books, but its benefits are distributed unevenly across the country, according to a new report by the Pew Charitable Trusts. Continue reading… Family Loans: Does The IRS […]

Family Loans: Does The IRS Care If I Lend My Kids Money?

Family loans: Does the IRS care if I lend my kids money? by TaxACT

You might lend your kids money from the time they are little – to buy a bicycle, to get that first car, or to buy a house. Does the IRS have anything to do with these family loans? For small loans, the answer is “no.” The IRS isn’t concerned with most personal loans to your […]

Weekly Favorites: Online Sales Tax Closer, 8 Job Search Tax Deductions, 5 Tax Tips for Cinco de Mayo

TaxACT Weekly Favorites May 10, 2013

Weekly Favorites: May 10, 2013 Online Sales Tax closer via Bankrate Collection of sales tax on all online purchases is halfway done. On May 6, the Senate passed the Marketplace Fairness Act, which would force online retailers nationwide to collect sales tax on purchases based on the rates in the buyer’s home city, county and […]

Gift Tax: Do I have to pay gift tax when someone gives me money?

Gift Tax: Do I have to pay gift tax when someone gives me money? - TaxACT

Surprise – Mom and Dad gave you a nice check! Maybe it’s enough for dinner, or maybe it’s more of an “early inheritance.” Either way, do you need to worry about paying tax on your gift? Annual limits before the IRS takes notice First, a gift must be quite substantial before the IRS takes notice. […]

Weekly Favorites: Survive a Tax Audit, 8 Money Secrets for Moms, Tips for Those Who Owe Money to IRS

TaxACT Weekly Favorites: April 19, 2013

Weekly Favorites: April 26, 2013 How To Survive A Tax Audit via CNN Money Tax season has finally wrapped up, but audit season is just about to begin. The chances of being dealt an audit are low — about one in 100. But if you happen to be selected, you can take certain steps to make the […]

Tax Do-Overs: Filing an Amended Return

Tax Do-Overs: Filing an Amended Return - TaxACT

It happens. Just when you think tax season is over and you can forget it, you discover a mistake or omission on your income tax return. You probably need to fix it by filing an amended return with the IRS. When to file an amended return You should file an amended return whenever you discover […]

Post-Filing Tax Tips

Post Filing Tax Tips - TaxACT

Yay – you’ve filed your tax return! Now what? Follow these tax tips: Keep track of the status of your return You are responsible for making sure your return is accepted if you file electronically. You can have TaxACT send you an email notification when this happens. You can also check your e-file status any […]

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