Tax news and guidance for individual taxpayers — filing tips, deductions, refunds, and everything else that hits your personal return.
Congress made a lot of noise this year about tax reform and other tax bills. Mostly, it was just noise. With the exception of some administrative moves (like changing due dates), there wasn’t a lot of movement. With just a few weeks to go in the calendar year and Congress scheduled to break for the…
Oscar De La Hoya turned a little more golden over the weekend. Canelo Alvarez, managed by De La Hoya’s Golden Boy Promotions, bested Miguel Cotto on Saturday night by unanimous decision, claiming the WBC middleweight title. The win puts Alvarez in the superstar category for now – and chalks up another victory for Golden Boy…
Today is Mother-in-Law’s Day. The day, created by the editor of a local newspaper in Amarillo, Texas, was first held on March 5, 1934, but was eventually moved to the fourth Sunday in October (insert random Halloween witch joke here). Mothers-in-law don’t always have the best reputation. Many mother-in-law relationships are notoriously difficult, such as…
Last week was the deadline for tax returns on extension. I mentioned on Twitter that I was sending my check on the 15th and Robert Flach (@rdftaxpro) promptly and correctly chastised me, saying, “Shame on you. When I owe I mail my check on April 15th – but I prepare the return as soon as…
With less than two weeks to go until the October 15 deadline, nearly a quarter of the 13 million taxpayers who requested an automatic extension this year have not yet filed. That doesn’t mean that it’s time to panic: you still have plenty of time. The rules for filing your return on extension are the…
“All we can do is try to maximize our services as well as we can; as well as we can is still going to be miserable. You really do get what you pay for.” That was the word from Internal Revenue Service (IRS) Commissioner John Koskinen last year as he described the challenges the agency…
(Author’s note: For a refresher on the official 2015 tax rates, click here.) Today, Bloomberg BNA released their predictions for the coming tax year and it looks like taxpayers whose income is the same compared to last year may end up with a lower tax bill (you can check out those rates here). At the…
(Author’s note: For a refresher on the official 2015 tax rates, click here.) The U.S. Bureau of Labor Statistics reported today that the consumer price index (CPI) has dropped off by just .1% for the month of August. The index for all items less food and energy increased 0.1% in August, the same as the previous month….
I swear it is better to stuff your mattress with your money. That was a comment from one of my friends today after she took a peek at the market. It’s been a volatile day. Within minutes of the opening bell, the Dow Jones industrial average plummeted more than 1,000 points. That was reportedly the…
When The Patient Protection and Affordable Care Act (often just referred to as “Obamacare”) took effect, one of the most controversial features was the so-called Cadillac tax. The tax was intended to target high-cost health care plans, thus earning the moniker “Cadillac.” The tax hasn’t changed much since it was first dreamed up. It’s still intended to…