1. Don’t check your math. While most people use software these days, some taxpayers still do their forms 1040 (and 1040-EZ) by hand and math errors are the top mistake that taxpayers make. What you might not know is that the IRS has a staff of “checkers” who basically doublecheck your math. If your numbers…
Notwithstanding the train wreck that is Britney Spears these days, there has been a lot of criticism of Kevin Federline’s requests for child support and spousal support. Initially, K-Fed was receiving (according to TMZ.com) $15,000 per month in child support with joint custody, and an additional $20,000 per month in spousal support. The amount of…
Hey you. Yeah, you. The one staring at the computer. The one contemplating starting that new business but somehow just can’t get the pieces to work. Maybe you need free billing software? Or maybe you need free hosting, support and email? Or a free subscription to Entrepreneur magazine? Or free books? Or more cool stuff?…
That life is not fair. Apparently Wandering Tax Pro agrees with her, at least when it comes to paying taxes. Do you think our tax system is “fair”?
Not right now. But there’s a chance that you might in the future: the moratorium on an internet tax expires November 1. The moratorium is sometimes referred to as the Internet Tax Freedom Act, or ITFA. ITFA has been extended twice since 1998. It bans taxes on certain internet transactions at the federal level but…
Home sales (or the lack thereof) continue to dominate the media these days. And despite realtors touting it as a buyers’ market, it seems that largely, buyers are staying away. It’s not just the sub-prime fiasco that has some buyers running scared. In some places, like Philadelphia, many taxpayers are concerned about what’s going to…
It’s International Talk Like a Pirate Day. Really. And to “celebrate,” I went looking for real-life pirates that had some connection to tax. Know where I found them? The music industry. That’s right, modern-day “pirates” such as they are, have shed their pirate patches and parrots for grunge tee shirts and ripped jeans. More or…
The D.C. Circuit has rejected Marrita Murphy’s petition for rehearing en banc with respect to her tax matter. The initial ruling in the case shocked the tax community but was subsequently overturned and became the center of controversy as the lawyer for Ms. Murphy (David Colapinto) visited a tax blog or two to comment. TaxProf…
It’s officially fall here in Pennsylvania (wait… gimme a minute… I just had to savor that thought a little longer) and that means that it’s only a few short weeks away from the party season. You know what I mean, holiday parties, back to school parties, tailgate parties, galas, premiere parties, you name it. One…
Apparently, it’s not just the US taxpayers who are complaining that those in lower tax brackets actually pay a higher percentage of tax overall. UK taxpayers are making a similar claim. According to the Sunday Times, the UK’s richest people are paying 4p in the pound less in tax than any other section of the…