Is It a Business or a Hobby?
You sold your tomatoes at the farmer’s market, but is your garden considered a business or a hobby? It’s complicated. Read this week’s Tax Tip for more.
Tax Strategist: Substantiation Requirements for Cash Charitable Donations
If you plan to take charitable deductions on your taxes, note the IRS requires written substantiation of your donation. For more, read this week’s Tax Tip.
Five Year-End Tax Planning Considerations
You have a about two months to make moves to improve your tax situation for 2011. Read this week’s Tax Tip for five year-end moves.
Herman Cain’s 9-9-9 Plan
We discuss Herman Cain’s proposed 9-9-9 tax plan.
Tax Tip: Large estates, opting out of the estate tax, have until Tuesday, January 17, 2012, to file Form 8939
Large estates, opting out of the estate tax, have until Tuesday, January 17, 2012, to file Form 8939. Read this week’s Tax Tip for more information.
Financial Tip: The New Estate Tax Rules and Your Estate Plan
2010 Tax Act created new provisions for estate tax laws. Read how these may temporarily affect your estate plan in this week’s Tax Tip.
Tax Strategist: Don’t Overlook the Small Employer Health Insurance Credit
If you are an eligible small employer or a tax-exempt eligible small employer, you may qualify for the small employer health insurance premium credit.
Next Year’s Tax Refund May Be Lower
Expecting a tax refund? Before you mentally spend it, learn about two tax changes for 2011 may lower your refund in this week’s Tax Tip.
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.