The IRS does not allow you to make any deductions for legal fees during divorce proceedings. With that out of the way, let’s go into the tax deductions which you can claim when you get a divorce. This is a highly complex issue, so when in doubt call a professional to help. Alimony You may not be
Mistakes to Avoid When Filing Taxes this Year
The time has come to start thinking about that dreaded April deadline. Mistakes happen every year and the IRS punishes people for these mistakes. Certain mistakes are much more common than others. Let’s go through some of the main mistakes you must be sure to avoid when filing taxes this year. Not
How Tax Day Works for Same Sex Married Couples
In June of 2015, same sex couples were granted the right to marry by the Supreme Court of the United States. This historic moment comes complete with a lot of questions about taxes. Previously, same sex couples paid separate federal income taxes. Some same sex married partners were able to pay their
Reasons Your Tax Bill is Not as Bad as You Think
Supposedly, death and taxes are two things that no one can escape. While the saying may be true, tax bills are often less financially damaging than you may think. Here are some reasons your tax bill is actually not that bad. Most Other Developed Countries Pay More In a large number of European
Things That Could Happen If You Don’t File Taxes
Getting in trouble for doing taxes is not something that only happens to the celebrities. If you don’t file your taxes some pretty terrible things could happen. Today, we are sharing with you exactly what could happen to you when you do not file your taxes to Uncle Sam. Pay a Penalty Not filing
What to Do If You Miss the Tax Deadline
Whenever possible it is recommended that you file and pay your taxes by the deadline. However, if you are unable to meet the deadline, there are some things to do and today we are sharing what they are. Request a Deadline Extension As soon as you know, you are going to miss the tax deadline file
What to Do About Missing W-2s
If you are an employee, before you are able to file your taxes you have to have your W-2. The IRS requires employers to send out this form by January 31. However, what do you do if your W-2 never arrives? Today, we will be discussing the solution. Contact Payroll If your W-2 has not arrived and
The Most Overlooked Tax Credits
Tax credits are very beneficial to taxpayers because they can help you cover family expenses. Today, we are discussing the most overlooked tax credits. Educators' Credits There are a few educators’ credits available to help parents and students pay for post-secondary education. We all know that