From the category archives:

contests and events

Taxgirl Gets Nod from ABA Journal

10 December 2011

Whew, it’s nearly mid-December already. How did this happen? The month has flown by so quickly that I haven’t had time to thank the editors of the ABA Journal for selecting taxgirl as one of the Blawg 100, the top 100 best law blogs by lawyers. The ABA said, about my blog: [entity display="Kelly Phillips [...]

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Give Your Favorite Charity a Boost

23 November 2011

There are 38 days left until the end of the year. That means you have just a little over a month to whittle down your taxable income (yeah, we tax people tend to think about the end of the year in slightly different ways). Sure, you could buy your entire family and staff a set [...]

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Run With It: Sports, Races and Taxes

25 October 2011

Over the weekend, I ran my first ever half marathon. I’m not gonna sit here and say it was easy. It was not. It was hard (note to self: When the web site warns, “Our course is not considered easy and fast,” pay attention.) But I finished in a quite respectable 2:18. So why did [...]

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Redesign the IRS Web Site

4 October 2011

Remember the IRS redesign? Like many others, I was puzzled by the new color combination (blue and orange, really?). As promised, I sent IRS an email asking them why those particular colors. To my surprise, they replied fairly quickly. Perhaps not so surprising, there was no real answer. Instead, I received this reply: We have [...]

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Back to School: Tax & Organizational Tips

27 September 2011

It’s nearly the end of September (whew) and we’re wrapping up back to school. To help you stay organized, I’ve made a list of five quick tax tips – for everyone but especially students – to keep in mind: April 15 of each year is the due date for filing your federal individual income tax [...]

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Back to School: Education Costs as Business Expenses

25 September 2011

t’s common to think about education expenses as they relate to fresh faced college students just starting out – but what about the rest of us? Can you deduct the cost of an education when you’re not pursuing a degree or certificate for your first career? You might. Under some circumstances, you may be able [...]

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Back to School: Education Savings Bonds

25 September 2011

Okay, you already know how savings bonds work… They’re backed by the federal government so the principal is guaranteed. When you buy them, federal savings bonds earn interest which is free from state and local income taxes. Federal income tax on the bonds is generally deferred until you cash the bonds in or until they [...]

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Back to School: Scholarships and Fellowships

21 September 2011

With all of the focus on the cost of higher education, it’s easy to forget that there are a number of scholarships and fellowships available. Scholarships are generally funds paid to or for the benefit of a student at an undergraduate or graduate school who is studying for a degree. Fellowships are funds paid for [...]

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Back to School: Tuition and Fees Deduction

18 September 2011

You may be able to deduct qualified tuition and related expenses that you pay for yourself, your spouse, or a dependent, as a tuition and fees deduction. The deduction can reduce the amount of your income subject to tax by up to $4,000 so long as your modified adjusted gross income (MAGI) is not more [...]

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Back to School: Education Tax Credits

18 September 2011

Education tax credits can help offset the costs of paying for your education or costs you pay for an eligible student who is your spouse or a dependent you claim on your tax return. For 2011, the American Opportunity Credit and the Lifetime Learning Credit are available to qualified taxpayers who pay expenses for eligible [...]

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