What You Should Know About Your Income Tax Return
Income tax preparation has kicked into full gear at the office. I went in both Saturday and Sunday to stay top of managing everything that we have going on right…
Category: Tax
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Reader Question: Should We File Our Taxes Jointly or Separately?
A few readers have recently asked about the advantages and disadvantages of filing Married Filing Jointly (MFJ) and Married Filing Separately (MFS). This distinction has become especially important for all… -
Demystifying the Premium Tax Credit
Last week, I gave an overview of how Obamacare will affect your tax return this year. As a reminder, not much will change for the majority of us. But thoseof… -
Understanding How Obamacare Affects Your Tax Return
I can feel the tax tension rising at work. Our clients’ tax preparation questionnaires are flowing in, and we’ve started planning how to ensure we have everything done by the… -
What Happens If You Contribute Too Much Money to Your IRA?
Can you feel it? Tax season is coming. I spent the majority of my workday yesterday organizing our preparation questionnaires so we can get to work shortly after the filing… -
The Tax Loophole that Can Provide Big Savings for Illinois Same-Sex Couples
I got a really interesting case last week that has shed some light on a little known rule for same-sex couples who get married in Illinois. Even more intriguing is… -
What is an HSA and should I use it?
Happy Tuesday! I received another great reader question that couldn’t be more timely. With a lot of open enrollments going on right now (Healthcare.gov just opened over the weekend), the… -
Interesting Tax Lessons from the Filing Deadline- October Edition
Another filing season down. With the stress of the second filing deadline gone, I can finally enjoy the rest of the fall and get ready for the holidays. And even… -
What You Need to Know About Missing the October 15th Tax Deadline
Happy Tuesday! It’s that time of the year again. The second tax deadline has come. And if you’re one of the estimated 3,250,000 people that haven’t filed yet, you only… -
How Living in a Property Before You Rent it Out May Be to Your Advantage
So we’ve come to the conclusion of my week-long answer to a reader’s questions about her rental property. Thanks again reader for providing so much material in one subject. The… -
What You Need to Know About the Tax Consequences of Selling a Rental Property
On Monday, I advised a reader that she should keep her rental property that provides positive net rental income and is creating equity without cash from her and her husband.… -
Five Things You Should Update Right After You Get Married
Now that I’ve gotten all of the lovey-dovey married stuff out of the way, I wanted to offer five practical documents you should update right after you get married. Reality… -
My Top 10 Practice Tips from the IRS Nationwide Tax Forum
I couldn’t end the week without highlighting some other great tidbits from the IRS Nationwide Tax Forum. Believe it or not, it was a really fun conference, and not just…