The Federal government regularly wastes your money on various causes. In an annual tradition, we get to find out the details behind the government’s wasteful spending habits. Here are the latest silly ways the government has spent your tax dollars. $35,000 on Solar Panels The Agriculture Department
Who Gains from the Electric Car Tax Benefit?
Electric car tax benefits may seem like a green initiative to improve the world. Strange though this may sound, such an impression is actually far from accurate. When we look into the details of these benefits, we can see that the people who benefit the most are high earners. Let’s take a look at
Tax Deductions to Claim When You Get a Divorce
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
You May Lose Your Passport if You Don’t Pay Your Taxes
The US government is making it harder than ever before to have outstanding tax debts. Under a new law, Americans could be forced to forfeit their passports, or have outstanding applications rejected, should they have bills to pay to Uncle Sam. The Current Tax System This actually isn’t a new
Tax Loss Harvesting Explained
Tax loss harvesting is a tax reduction trick designed to reduce the amount you pay to Uncle Sam. It can be used quite regularly and many investors use it to either postpone or to reduce what they have to pay altogether. Let’s take a look at what tax harvesting is. The Principle The principle of
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 Rates & Brackets Will Change in 2016
It is essential that you know how the tax system is going to change ahead of time. This will help you plan so you can pay as little as possible. 2016 will see a number of alterations to the tax system, and we are going to look at some of the more important alterations below. Singles Single people
Things You Should Know About Federal Tax Liens
A tax lien is something that the IRS files against you in order to lay claim to your personal property. You will have a tax lien filed against you when you don’t pay your taxes. Dealing with a tax lien can be quite exhausting and you need to make sure you avoid it. If you are in this position,