Tax guidance and resources

Latest Articles

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  Avoiding taxes on a foreclosed rental

  To avoid paying capital gains tax on a foreclosed rental, the homeowner has to consider bankruptcy.

  3 min read Mar 11, 2010
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  2 big homeownership expenses to deduct

  These home-related costs get special treatment at tax time, thanks to modifications in the law.

  4 min read Mar 11, 2010
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  Down market could produce tax surprises

  Even when mutual funds have dropped in value, shareholders could pay capital gains taxes.

  6 min read Mar 10, 2010
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  Plan for taxes due on a Roth IRA conversion

  Before converting your traditional IRA to a Roth account, ask yourself these key questions.

  5 min read Mar 05, 2010
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  5 questions about the homebuyer tax credit

  Does the IRS owe you a refund for the homebuyer tax credit? Here are a few answers.

  6 min read Feb 18, 2010
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  How to report taxes on foreclosed homes

  When the bank issues a 1099-A on foreclosed homes, there usually is no tax impact.

  2 min read Feb 16, 2010
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  Deducting sales tax on a new car

  This year, even taxpayers who claim the standard deduction can take advantage of this tax break.

  4 min read Feb 11, 2010
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  10 wackiest tax deductions for 2010

  Writing off the cat as an ‘exterminating expense’? It’s just one of 2010’s wackiest tax deductions.

  6 min read Feb 09, 2010
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  Is elder abuse settlement taxable?

  Whether a settlement is taxed or not depends on the nature of the claim, not the lawsuit.

  1 min read Feb 09, 2010
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  Homebuyer tax credit extended, expanded

  In 2009, lawmakers improved the homebuyer tax credit. Find out how it reduces your tax bill.

  5 min read Feb 04, 2010
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  Capital gains tax exclusions of $1.5 mil?

  It takes time, a good market and homebuilding skills to claim $1.5 million in tax exclusions.

  2 min read Feb 04, 2010
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  Super Bowl winnings are taxable income

  Placed a bet on the big game? You’re not alone, but most winners ignore the tax responsibilities.

  7 min read Feb 03, 2010
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  7 new tax laws to know

  Several new tax laws made it into the IRS Code. See which ones might help cut your tax bill.

  4 min read Feb 01, 2010
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  5 old tax laws, with new amounts

  Some old tax laws stay the same. Just the amounts change to reflect inflation.

  3 min read Jan 29, 2010
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  Avoid the nanny tax pitfalls

  Don’t be tripped up by the nanny tax. Be sure to follow the rules when it comes to household help.

  5 min read Jan 29, 2010
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  Claiming tax credit for a caregiver

  You can claim a tax credit or a medical deduction for a caregiver, or a combination of both.

  2 min read Jan 28, 2010
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  Tax credit claims could limit Free File

  The IRS’s Free File option is back. But this year, tax credits could leave some filers out.

  4 min read Jan 27, 2010
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  Reporting disability benefits for a minor

  Grandfather wants to know whose return reports the disability benefits being paid to his grandson.

  3 min read Jan 26, 2010
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  Writing off a tax loss on a franchise

  Before determining the amount of tax loss on a franchise, make sure to amortize.

  2 min read Jan 21, 2010
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  Sales tax deduction for a new roof?

  When it comes to home renovations like a new roof, the sales tax deduction can get confusing.

  2 min read Jan 19, 2010