Tax Loss Selling
Even though it has been a rocky year, some investors may have capital gains they need to offset if they sold during the April highs or if they sold a long-term holding for a profit.
How Long Are You on the Hook for a Tax Assessment?
What is the statue of limitations for the IRS to question your tax return? As with all things tax, it depends. Read this Tax Tip for more information.
Your Broker’s 1099 Statement Will Be Different for 2011
In 2011, you will see your adjusted cost basis on your 1099-B Proceeds From Broker and Barter Exchange Transactions form. Find out what this means to you.
Sales Tax on Home Sales Rumor
A sales tax on home sales? You’ve likely read a lot of misinformation. We explain the new tax and who it affects in this week’s tax tip.
Tax Strategist: How Much Do I Need to Put Aside for Retirement?
A frequently asked question is, “How much do I need to put aside for retirement?” The answer to that question varies with each individual. There a number of factors to consider: the amount of your current income, savings and assets; how many years until you plan to retire; the retirement lifestyle you desire, and what you can afford to put aside.
Tax Breaks for Charity Volunteers
Do you incur unreimbursed costs while doing charity work? You may be able to take a tax deduction. Read our Tax Tip to find out.
Is Your Credit Rating Correct?
Your credit score can affect your options for financing and your ability to get a job. Learn how to dispute an error in this Tax Tip.
Don’t Be a Victim of a Scam or ID Theft
The latest round of tax scams are preying on taxpayers who normally do not have a filing requirement, including low-income earners and the elderly. Read this Tax Tip to learn what to look out for.
Business Owners: Can You Write Off Bad Debt?
Small-business owners: Your accounting method affects your ability to write off receivables that cannot be collected. Read this Tax Tip to find out how.
Manage the Tax on Your Social Security Benefits
Take advantage of the unused threshold for additional income without incurring taxes on your Social Security benefits. Read this Tax Tip for more information.