Tax Tips & News (29)

Will Your Donation To Japan’s Relief Efforts Be Tax Deductible?

1 minute read

Many people may be thinking of sending donations to assist in Japan’s relief efforts in the wake of the aftermath of the earthquake and tsunami recently effecting the region. If you are thinking about making a donation toward Japan’s relief efforts you may want to make sure that you are donating to a charity that will allow for a tax deduction. Donations made to charities in 2011 can be claimed on your next tax filing in 2012 as long as the charity is US based and qualified by the Internal...

Overlooked Tax Deductions

1 minute read

When you plan to come in to do your taxes make sure to bring all of your information and mention any purchases or payments made throughout the tax year that may help you save money on your income taxes. Some of the items to remember are:

Tax Refunds and Savings Bond Options

1 minute read

With large refund averages and an increase in the release of refunds the IRS has begun reminding taxpayers of their refund options. They offer several options for depositing your refund, including a Saving Bond Option.

Can’t Believe They Tried To Deduct That…

3 minutes read

We all know better then to try to write off these outlandish expenses but it’s fun to see what some people are willing to do in order to save money on their taxes. Here are some of the crazy things people have tried to claim on their taxes, unsuccessfully of course.

IRS Budget Talks: Will They Increase or Decrease

2 minutes read

President Obama’s proposed budget for 2012 includes an increase in funding for the Internal Revenue Service enforcement efforts. Though Republicans talk of decreasing the IRS budget, the President believes that increasing the enforcement efforts will bring in additional revenue and assist in closing the deficit.

Don’t Argue With The IRS

2 minutes read

If you are thinking about arguing with the IRS then you should think again. The Internal Revenue Service can penalize you if they believe your argument is frivolous.

The IRS Has Over $75 Million Dollars For New Yorkers Who Did Not File 2007

2 minutes read

Nearly 1.1 Million taxpayers did not file a federal tax return for 2007. New York taxpayers account for 62,600 of the tax returns that have not been filed. These returns have an average refund amount of $706 and account for approximately $78,405,000. These individuals who did not file, must submit their income tax returns by April 18th 2011 or forfeit their refunds to the IRS.

Charitable Contributions May Be Tricky For Tax Year 2010

1 minute read

Taxpayers that make donations to charitable organizations can claim a deduction(s) for the donation(s) if the return is itemized for the tax year in which the donation(s) was made. Last year is an exception to this rule. After the devastation caused by the earthquake in Haiti there was a brief period between January 12th 2010 and March 1st 2010, that the Internal Revenue Service would allow donations made to charitable organizations assisting in Haiti’s aide to be deducted on the 2009 tax...

Going Green Can Save You Money On Energy Bills and Taxes

2 minutes read

Over the past several years that the residential energy credits have existed there have been significant changes. For starters the credit was eliminated for residential purposes other than solar for tax year 2008. However the credit came back in 2009 through the American Recovery and Reinvestment Act that extended it’s use into tax year 2010 as well.

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Tax Tips & News

Will Your Donation To Japan’s Relief Efforts Be Tax Deductible?

Overlooked Tax Deductions

Tax Refunds and Savings Bond Options

Can’t Believe They Tried To Deduct That…

IRS Budget Talks: Will They Increase or Decrease

Don’t Argue With The IRS

The IRS Has Over $75 Million Dollars For New Yorkers Who Did Not File 2007

Charitable Contributions May Be Tricky For Tax Year 2010

Going Green Can Save You Money On Energy Bills and Taxes

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