If you know me, you know that I love sports – especially basketball. And you couldn’t have scripted a better Game 7 in the Eastern Conference semifinals of the NBA Championship. The pivotal moment in that game came when Kevin Durant took a spinning jumper near the three-point line. He made it, but because he…
(UPDATE: The giveaway is now closed. We have our winners! See the comments for more info.) So the good news at my house first: my middle daughter made travel team for field hockey. The bad news: we have to figure out how to pay for it. In addition to the fees for travel, we have…
It’s Back To School Week on the blog! All week long, I’ll be answering your questions about school and tax – complete with fun giveaways. Next up: Playing sports while in school can be expensive. Are there are tax deductions or credits available to offset those costs?
(Update: A reader sent an email last night suggesting that Pacquiao’s manager’s tax calculation of $10 million was too high since all of Pacquiao’s income would not be taxed at the highest tax rate. To clarify, that is correct since we have a progressive tax system (and, as was pointed out to me in the…
I need a full time assistant just to manage the kids these days (don’t worry, Mom, I don’t actually have one). School started last week which means that this week, extracurricular activities have started in earnest. In addition to escorting my kids back and forth to dance, gymnastics and soccer, respectively, I have to spend…
Are you ready for some football? Preseason is in full swing already for the NFL and yet all anyone can talk about in the football world is college football. Specifically, the chatter is centered on the University of Miami. Yes, Miami. Unfortunately for the Hurricanes, the talk focusing on Miami has little to do with…
All of that fuss over Usain Bolt and now he has a back issue? Thank goodness he’s not the only mega-rich athlete thinking of playing in the UK these days or the British government might get bored. Now, they’re in talks with European Tour officials about the current tax structure because of noise on the…
Philadelphia is a town known for its scrappy sports teams and its passionate fans. We’ve collectively cheered our world champion Phillies and wrung our hands over last minute Eagles’ losses. We’ve booed the drafting of Donovan McNabb, cheered Brad Lidge, mourned our beloved Harry Kalas and thrown snowballs at Santa. We’ve stood along Kelly Drive…
Taxpayer asks: I saw on twitter that you ran a race this year so maybe you can help me. I run a number of races throughout the year and I occasionally win some money. My friend told me that I have to include that money on my taxes. Can I deduct the cost of the…
Guest Blogger: Madeline M. MartinAs almost anyone who knows me can attest, I am a college football fanatic. This time of year I usually focus my attention on recruiting. This month, February, is when high school seniors can formally commit. It was recently reported throughout the sports media that Texas A&M recruit, Terrence McCoy, stated,…