Category Archives: Taxes

accounting methods cash and accrual 1

When starting a business, you have to determine the method you are going to use for accounting and paying taxes. The two choices are the cash method and the accrual method. Cash Method If you are looking for simplicity, the Read more…

leveling the playing field among 529 plans

Many people are already aware of the benefits of investing in a state-sponsored 529 college savings program. What might not be as well known yet are tax parity laws. Numerous states give up-front state tax deductions or credits to residents Read more…

alternative minimum tax online tool 1

Hell hath no fury like a person who just found out the alternative minimum tax applies to them. The IRS has set up an online tool to figure out if you do. Alternative Minimum Tax The alternative minimum tax is Read more…

tax returns for the deceased

Two things in life are certain death and taxes. Here’s what to do if the two are combined as far as filing a tax return. Tax Returns for the Deceased If a person dies, their finances are immediately converted into Read more…

marriage and taxes

Getting married is the greatest day for 50 percent of couples. The other 50 percent get divorced. Perhaps the marriage tax penalty has something to do with it. Family Values Hardly For all the chatter from politicians about family values, Read more…

new procedure for settling tax debts with the irs

The Tax Increase Prevention and Reconciliation Act of 2005 has ushered in new rules for settling tax debts with the IRS. Here is the scoop on the compromise procedures. New Procedure for Settling Tax Debts with the IRS If you Read more…

its a taxing time of year

Yes, that’s right, it’s that time of year nobody loves – tax time! No, this is not too early to think about it, especially if you have money coming to you. All right, so it’s not fun to think about Read more…

latest email scam using irs name

If you have an email account, and who doesn’t, you are use to receiving scam emails. Well, here is one using the IRS name to watch out for over the next few months. Latest Email Scam Using IRS Name No Read more…

tax savings tips for parents

Ask any new parent, and they will tell you that the costs associated with a new baby are many, everything from bottles to diapers to cribs, strollers, and high chairs, and all of this before the child even learns to Read more…

tax refund email scam irs warning

The IRS has issued a warning regarding a phishing email scam. The scam claims you are due a tax refund, but is really designed to obtain your personal information. Tax Refund Email Scam Phishing scams are designed to swindle you Read more…

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