J is for Job Search Expenses. Despite recent news that seems to hint that the job market might be recovering, many Americans are still out of work. The prospects, however, of finding a job seem a little brighter as the U.S. continues to add jobs. If you’re one of those still searching, take heart. And…
G is for Gift Expenses. The word gift can have a different meaning, depending on who is doing the giving and who is doing the getting. If you don’t believe me, check out an episode or two of Judge Judy (yes, I’m a fan). When it comes to business, however, the IRS has a very…
D is for Deductible Taxes. (Admit it, you thought I was going to say depreciation. Nah, that was last year.) It feels like everything you touch these days is associated with some kind of tax. You can get socked with taxes for doing anything from working to tanning to smoking. It can add up. Surely…
Today, I’m kicking off my annual “Taxes from A to Z” series. As part of the series, I plan to focus on tax terms that might not get much play on a day to day basis… If you’re wondering what the heck depreciation is or how to figure out when to claim insolvency, this is…
By the time that you read this, I will be at home in NC with my family as my mom gears up for some major surgery. It’s a big deal. I know surgery is always a big deal but this is serious and it’s my mom. If you follow the blog, you know that I…
There are 38 days left until the end of the year. That means you have just a little over a month to whittle down your taxable income (yeah, we tax people tend to think about the end of the year in slightly different ways). Sure, you could buy your entire family and staff a set…
Is your mortgage interest deduction at risk? What about your charitable donation deduction? Your real estate tax deduction? Your medical expenses deduction? Under a new conservative plan introduced by Sen. Pat Toomey (R-PA), one of the members of the “Super Committee”, the amounts that taxpayers could claim as a deduction on a Schedule A would…
It’s common to think about education expenses as they relate to fresh-faced college students just starting out – but what about the rest of us? Can you deduct the cost of an education when you’re not pursuing a degree or certificate for your first career? You might. Under some circumstances, you may be able to…
Education tax credits can help offset the costs of paying for your education or costs you pay for an eligible student who is your spouse or a dependent you claim on your tax return. For 2011, the American Opportunity Credit and the Lifetime Learning Credit are available to qualified taxpayers who pay expenses for eligible…
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…