As states need to fill budget holes, politicians are looking for new revenue sources. Maryland recently became the first in the United States to pass a digital advertising tax, taxing the revenue made from digital advertisements on online services like Facebook and Google. Other states are watching closely, with a few introducing similar tax bills….
Chances are, you’re about to come into some money soon, whether it’s your tax refund or the 2021 stimulus check. But what do you do with it now that you have it? For many people, a lump sum is new, and they don’t want to blow the opportunity. That’s where this sound advice comes in…
Inclusivity has long been a hot-button topic, but social justice concerns have pushed it to the forefront recently. To further the discussion of minorities in business, Kelly invites Wil Reynolds to share his experiences with bias and minority representation in business. Minorities in business have to overcome biases to find the same level of success…
The IRS estimates that around 85% of taxes are paid voluntarily and on time. But the tax gap, the difference between the taxes paid on time and those still owed, means hundreds of billions of dollars are missing every year. While politicians often look to increase or decrease taxes as a part of their platform,…
The COVID pandemic has impacted everyone in different ways. While the last year has been difficult, filing your taxes could be yet another hurdle. If you’ve been telecommuting, you may face working-from-home tax complications. Potential working from home tax problems On this episode of the Taxgirl podcast, Kelly is joined by Timothy Speiss, the co-leader…
Tax fraud is serious business, and the IRS is looking for help to crack down on it. Paying IRS whistleblowers a reward is one tool the government uses to find and prosecute those cheating on their taxes. It can be lucrative for both the IRS and whistleblowers, who helped the government recover more than $6…
IRS Criminal Investigation (IRS-CI) started a little over 100 years ago as an intelligence unit within the IRS, with nothing more than a few Post Office inspectors. Over the years, IRS-CI has become world-renowned for investigating abusive tax schemes, financial fraud, and many other crimes. With COVID-19 and Paycheck Protection Program (PPP) loans among the…
What’s the best tax deduction or tax break available? I hear that question all the time, and I often point people to health savings accounts, or HSAs. While many people believe healthcare expenses are the biggest deductions they can claim, thinking about your HSA as a large tax deduction and even a potential retirement account…
Most people love a little gossip, and celebrities are often the best source, especially when they get into financial trouble. But with a good business manager and a little financial literacy, people can keep their names out of the newspaper, off the internet, and off auditors’ radar. Business managers aren’t just for celebrities. You can…
Foreign bank accounts aren’t necessarily for mustache-twirling villains and the superwealthy, but they do trip up plenty of people when it’s time to file their taxes. With foreign accounts becoming more common among everyday people and the minimum amount required to file being so low, it can be easy to not even realize you need…