Your FICA taxes are’nt going up! Congress extended the 2% reduction through the end of 2012. Read more in this Tax Tip.
New this tax filing season: If you hold “specified foreign financial assets” you may have to file IRS Form 8938. Find out more in this week’s Tax Tip.
Before you withdraw from your cash value life insurance policy, be aware of your basis and any surrender charges. Learn more in this week’s Insurance Tip.
You have a home office, but can you deduct it on your taxes? Before you do, make sure you pass two tests from the IRS. Find out in this week’s Tax Tip.