You, like many other Social Security recipients may be wondering whether your 2011 benefits are taxable. All Social Security recipients should receive a Form SSA-1099 from the Social Security Administration which shows the total amount of their benefits. You can use this information in addition to the following to determine if your benefits are taxable:… Continue reading Social Security Benefits – Are They Subject to Tax?
With football season winding down, another season is just starting – Tax Season. Although watching the college bowl games and NFL playoffs is clearly much more exciting than watching the IRS’s youtube video above, you can stay on top of your “tax game” by following these tips: 1. GATHER YOUR DOCUMENTS you’ll need when filing… Continue reading Tax Tips For 2012
Knowing the chances of the IRS auditing your Income Tax Return is relatively slim, are you willing to take that gamble and “modify” the figures on your return to maximize your refund or minimize the taxes owed? If so, you are definitely not alone! But before you turn in that return, you might want to… Continue reading Audit Gamble – IRS Steps it up Against Tax Cheats
QUESTION: What happens if I owe the IRS money but after paying my living expenses/bills, I currently can’t afford to pay my tax liability? ANSWER: Depending on your particular situation, there are several options. If you are going through a financial hardship, the IRS may be willing to suspend collection activity to allow you the… Continue reading Tax Q & A – I Currently Can’t Pay the IRS because of an Economic Hardship
If you just received a letter from the IRS, you may be freaking out and envisioning the IRS breaking down your door – swat team in tow – to raid your house for valuables to satisfy your tax debt. Before you shred the letter in hopes it will magically disappear forever, take a moment to… Continue reading IRS Audits and Letters…AUGH, what does this mean?!
With “Tax Day” right around the corner, most people are scrambling to put together and file their 2010 tax return before April 18, 2011 (yes, the IRS has graciously provided us a few extra days this year). Accordingly, I have put together some information and pointers to help you decrease your chances of having the… Continue reading The Dreaded IRS Audit: Will Your 2010 Tax Return Get Flagged for an Audit?
With the results of the November elections still looming, taxpayers are left with an uncertain tax future as Bush’s tax cuts remain in a state of uncertainty. Although legislative action to extend or modify the Bush-era taxes seem non-existent, the President still refuses to throw tax reform out the window. With a month and a… Continue reading November Elections and Your Taxes…The Possibilities are on the Table
With just over a week left before Election Day, I encourage voters to become more acquainted with the candidates and issues they will be confronted with on the ballot. Because most ballot initiatives are written in what resembles either a foreign language or horrific grammatical capabilities, I’ve compiled a brief synopsis of the tax issues… Continue reading Florida Tax Issues for Voters – November 2010 Elections
FTC Shuts Down American Tax Relief Scam New York Times, FTC Says Company Promised Tax Relief but Failed to Deliver: Who wouldn’t like to settle with the IRS for pennies on the dollar? In recent years, some 20,000 people have turned to American Tax Relief of Beverly Hills, Calif., to do just that after seeing… Continue reading Settle Your Tax Debt for Pennies on the Dollar – If It Sounds Too Good To Be True, It’s Probably a Scam!
Although we have yet to see legislation to preempt the reversion of the estate tax to the 2001 rates on January 1, 2011, the media has become inundated with opinions and speculation surrounding such. Most of the talk I find rather boring as a lot of the arguments are merely re-worded sentiment that has been… Continue reading Mickey Mouse, Disney, and the Estate Tax…A Story with a Surprise Ending!