Who said those tax havens don’t care what the rest of the world thinks about them? Apparently, some do. Four countries were removed from the “blacklist” and placed on the “greylist” – the creativity of those financial minds is breathtaking, is it not? – after committing to international standards on bank information disclosure. The four…
Taxpayer asks: Can lawyers, students studying for their bar check into others tax returns and see how much they received back from their taxes for any given year? Taxgirl says: As I understand it, you’re asking whether you can snoop around and see how much other people paid or received in taxes…Um, no. A big…
Taxpayer asks: Dear Taxgirl,Congress has passed a bill allowing a tax deduction for the sales tax on the purchase of a new car. Does that differ from the current Schedule A deduction possible for additional tax for major items? Is this “much sound and fury signifying nothing?” The devil is in the details. Best regards,…
Remember that small biz can expense some business costs in 08 rather than depreciate. Immediate savings! #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
When I was in law school, I spent a summer studying in Italy. Though I’ve been fortunate to travel to many places, Rome and its surrounding area remain among my favorite places in the world. The area is breathtakingly beautiful and the people are just so gracious. It was with much sadness that I read…
Last month, the Internal Revenue Service (IRS) announced a new settlement program targeted at taxpayers with offshore accounts. As previously reported, IRS has become more aggressive in their efforts to identify taxpayers with offshore accounts who have not reported those accounts to the feds. Steep civil penalties apply and, in some cases, criminal charges could…
The wages of sin are death, but after they take the taxes out, it’s more like a tired feeling, really. Paula Poundstone
I think a lot of folks make a lot of assumptions about me based on my current demographic. But what you may not know about me is that I’m originally a country girl from the South. My first real album was Randy Travis, my first real concert was George Jones and my dog was named…
Taxpayer asks: What a great service. Hope I can explain this good enough. I have been disabled for 3 years, have received disability income from a private insurance company. This was not taxable because I paid the premiums. Was approved for disability end of 2008 and got a lump sum check. Had to then send…
You can deduct tax prep fees (includes tax pro costs, software, e-filing, etc) in the year you pay them if you itemize. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)