Self-employed individuals often work out of their own home. If this is the case with you, heres a primer on home office tax expenses you can claim on your taxes. Home Office Tax Expenses America is a country built on small businesses. Yes, the big companies are the darlings of the media, but the guts […]

Between global warming and massive increases in fuel prices, many people are reconsidering their transportation. Honda has two natural gas cars the IRS absolutely loves. Honda Natural Gas Cars Issued Massive Tax Credits By IRS In 2005, the federal government passed a new energy policy act that created tax benefits for the use of alternative […]

Many people know that the interest paid on a mortgage is deductible on their income taxes. But they don’t understand how it really works.

Congress has passed legislation that is supposed to result in a more “sensitive” Internal Revenue Service. You know, not such a lean, mean, tax-collecting machine. Hmmm . . . . What do you think, A few months ago, one of my clients (let’s call him Mr. Jones) got one of those IRS “love letters” requesting […]

Have you been thinking about incorporating your small business or self-employment activity, The advantages are many! For starters, you’ll be protecting yourself and your family from the possibility of a business ending lawsuit. Forming a corporation is Step One on the path known as “Asset Protection” — you are moving from the world of unlimited […]

Tired of dealing with those complex depreciation rules, Thanks to recent tax law changes, here’s how to avoid them completely while benefiting from a lucrative small business tax break that not only puts money in your pocket, but also makes the filing of your income tax return much simpler. What am I talking about, It’s […]

So, you were pleasantly surprised to learn that you are getting a refund on your taxes. Congratulations! The question for most taxpayers expecting a return is, “Where is my refund,” Check Your Refund Status Online The easiest way to check on your refund is to ask the IRS through IRS.gov. On the home page of […]

We all love to criticize the IRS, don’t we, It’s easy to ridicule a huge organization of government bureaucrats who often seem to be Public Enemy #1. Our negative attitude toward the IRS can lead to a strong desire to just ignore it altogether. But self-employed people who ignore the IRS do so at their […]

“In America there are two tax systems, one for the informed and one for the uninformed. Both systems are legal.” One of America’s most famous jurists, Justice Learned Hand made this statement over forty years ago. When used today, one would certainly have to include the little understood world of Individual Retirement Accounts (IRAs). The […]

What do filing an income tax return, saving money and taking a cruise all have in common, Well, if handled well, you can have your cake and eat it too! Thats right, you can save money and take a cruise by utilizing your tax return properly. In Canada for example, earners have the opportunity to […]