Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker who explains tax news, IRS updates, scams, financial crime, and money in plain English.
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Microsoft Exec: Consumers Need To Pay More Taxes
What if the head of Coca-Cola suggested a tax on sugary sodas to combat increasing instances of obesity? Or if the big three automakers heralded an increase in the gas tax as a way of repairing our highways? It would leave a lot of us scratching our heads. That’s why many IT folks were left…
Small Business Startup And Survival Guide
In 1938, Bill Hewlett and Dave Packard began working part-time in a Palo Alto garage. With $538 just in working capital, the pair developed an audio oscillator: it would become the first product for the fledgling Hewlett-Packard partnership. Today, Hewlett-Packard sits at #35 on Forbes’ list of most valuable brands, with an estimated worth of…
In Defense Of Madness
Remember when YOU saved Fannie Mae and Freddie Mac? Well, apparently your generosity knows no bounds. In response to taxpayer demands, the Justice Department is currently investigating whether there was any wrong doing leading up to the collapse of the mortgage industry. And naturally, executives at companies like Fannie Mae and Freddie Mac are scrambling…
Raising Money From The (Corporate) Dead
Last week, my firm received mail from Internal Revenue Service (IRS) advising that their records showed that no payroll tax returns had been filed on behalf of a certain corporate client which I recognized as now defunct. The company never had employees and now, clearly, it never will. The next day, I received a similar…
How To Get An Extension If You’re Not Ready To File
Not ready to file your tax return this year? Here’s how to file for an extension.
Ask The Taxgirl: Deducting Gift Cards
Taxpayer asks: Hello, I am an independent contractor and work with teachers. If I purchase gift cards to award those that completed required assessments by the deadline given. Can I deduct the cost of these gift cards? I would appreciate any information you can provide. Many thanks, Taxgirl says: I love this question because it’s…
