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Weekly Favorites: Beware These 5 Terrible Tax Surprises, and more

TaxACT Weekly Favorites

TaxACT Weekly Favorites:  February 28, 2014

Beware These 5 Terrible Tax Surprises

via Bankrate

You’ve always followed the sage advice of the late singer-songwriter Jim Croce: You don’t tug on Superman’s cape, you don’t spit into the wind, and you don’t try to pull a fast one on the Internal Revenue Service. OK, maybe that last one wasn’t one of Jim’s lyrics, but the sentiment — know the consequences before you act — still applies. Unfortunately, that’s not always easy to do when it comes to Uncle Sam’s tax collectors. Continue reading…

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

via Sally Herigstad

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? Continue reading…

Climbing Cost of Homeownership

via Bankrate

Many of the recent housing woes have been blamed on unusually cold winter weather and a lack of available homes for sale. But another reason buyers are not rushing to sign a deal could be that owning a home is getting a lot more expensive. Continue reading…

Photo credit: Abby Lanes via photopin cc

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