I’m in sunny southeastern North Carolina this week but not for the change of weather. My dad had heart surgery on Friday and I flew out to be with my family. It’s an unexpected visit and no amount of surfing Bookit.com or Expedia could lower my airfare. Add in the icy conditions we’ve been having…
It’s my annual “Taxes from A to Z” series! Next up: D is for Disability Income When you miss work due to an injury or disability, you may receive compensation in the way of disability income from an employer’s insurance, health plan, or pension plan. Under the Tax Code, all income is taxable unless otherwise…
At tax time, you can generally settle your bill by cash (though not necessarily folded cash), check or credit card. A New Hampshire State Representative is hoping to add another way to pay: Bitcoin. A bill introduced earlier this year in New Hampshire, HR552, would require the state’s treasurer to “develop an implementation plan for…
It’s my annual “Taxes from A to Z” series! Next up: C Is For Commuting Expenses This should be a short post: you cannot deduct the costs of getting to and from work, no matter if you take a bus, trolley, subway, taxi, or drive your own car. Commuting expenses to and from your regular…
The Bank of Canada has a message for many Leonard Nimoy fans: Stop Spocking our bills. To honor the late actor Leonard Nimoy, Canadian fans have been marking up Canadian $5 bills (worth $4.02 US), turning the face of Sir Wilfrid Laurier into Nimoy’s Star Trek character by adding slanted eyebrows and pointed ears; some…
It’s my annual “Taxes from A to Z” series! Next up: B Is For Bona Fide Residence Test If you are a U.S. citizen or a U.S. resident alien, you’re taxed on your worldwide income (just ask London Mayor Boris Johnson). However, you may be able to exclude some or all of your foreign wages…
Former Florida Governor Jeb Bush may have signaled his interest in running for President in 2016 but he’s clearly not following exactly in his father’s footsteps. Bush has refused to sign a pledge promising not to raise taxes, despite earlier reports that indicated he might. Spokeswoman Kristy Campbell made Bush’s position clear this week, saying…
It’s my annual “Taxes from A to Z” series! For the series, I’ll focus on terms that you might see on your tax forms and statements but not necessarily in the headlines. If you’re wondering whether you can claim wardrobe expenses or whether to deduct a capital loss, this is one series you won’t want…
(Note: I am continuing to make updates to this post, originally posted on May 7, 2014, and revised from my timeline posted in 2013.) The further we get away from the onset of the scandal, it’s easy to forget the chain of events. And context is important. So here’s an updated timeline with highlights of…
“There is potential criminal activity.” That’s the latest word from Treasury Inspector General for Tax Administration (TIGTA) regarding the ongoing investigation into the missing emails at Internal Revenue Service. You know the ones. But in case you need a refresher, at the center of the firestorm that is the tax exempt organization scandal, is the…