Tax Preparation Guide

Federal Tax Articles & Advice

Introduction

Personal Income Taxes

Investments


  • Tax Deductions for Investment
    Expenses
    Many miscellaneous costs related to investing in securities may be deducted from your taxes.

    For instance, you can deduct the interest on the loans you take out to purchase said investments.
    [more...]

  • Timing is Everything
    Near the end of December, before you break open that bottle of champagne to celebrate another successful year…

Real Estate

Tax Strategies for Homeowners

  • First-Time Homebuyer Tax Credit
    This tax credit was introduced by the Housing and Economic Recovery Act of 2008…
  • Home Offices
    Although a growing sector of the workforce is working from home via laptops and cell phones…
  • Second-Home Deductions
    The benefits of owning a vacation home can go beyond getting away from the office…

Estate Planning Strategies


  • Trusts
    The ability to gift an unlimited amount of your estate to your spouse (an IRS loophole made memorable in the film The Shawshank
    Redemption    ) is a convenient way to reduce the size of your estate to the available tax exemption.
    [more...]
  • Choosing an Executor or Trustee
    After you have written your will and formulated your financial plan, you will need to…
  • Life Insurance Proceeds
    Proceeds from life insurance policies are not generally subject to income tax…

Children’s Taxes

  • Plan Around the Kiddie Tax
    The "kiddie tax" was put in place to prevent high-income households from channeling income…
  • Child Tax Credit
    You may be eligible for Child Tax Credit if you have a dependent child who is younger than…
  • Child Support and Alimony
    In many cases, when a relationship between two parents is terminated or never existed…

Education Strategies

Tax Credits

Tax Deductions

Taxes and Divorce

Retirement Planning

  • Retirement Strategies
    It is never too early to start saving for retirement, and recent tax reform has…
  • Social Security Benefits
    Approximately 96% of American workers are covered under Social Security…
  • 401 (k) Plans
    Many employers offer a 401(k) plan, in which the employee can elect to have…
  • SIMPLE Programs
    One type of pension plan used by many employers is a Savings Incentive Match Plan for Employees…
  • Roth IRAs
    A Roth IRA, unlike a traditional IRA, has the added qualification that you must have a MAGI…
  • Which IRA is Best For You?
    While contemplating your retirement strategy, you may decide to invest in an Individual Retirement Account (IRA)…
  • Retirement Plan Assets and Multiple Taxation
    Retirement savings often constitutes a large portion of your total assets, and thus may be…

Other Tax Strategies

  • Alternative Minimum Tax (AMT)
    The Alternative Minimum Tax (AMT) is essentially a separate system of tax rules, rates, and exemptions…
  • Exemption Planning
    The theory behind personal exemptions is that they are an amount kept aside from taxes for…
  • Estimated Tax Payments
    If you are self-employed or receive additional income outside of your regular job, you may be required to…
  • Taxes for Domestic Help
    Don’t ignore the requirement to pay taxes on your domestic help, otherwise known as the "nanny tax"…
  • Tax Facts for the Unemployed
    According to the U.S. Bureau of Labor Statistics, the national unemployment rate was 9.8%…
  • Identity Theft and Your Taxes
    Identity theft is an extremely fast-growing crime. It is estimated that around 750,000 Americans…

Looking Forward

State Tax Guides

Get up-to-date information on your state’s tax policies, including personal income tax, sales and use tax, corporate tax, and other tax legislation. Each state guide provides the following:

  • • General Information About Your State’s Tax Laws
  • • Notable Changes In Policy/Legislation
  • • Information About Filing Your Taxes In Your State
  • • Tax Tips & Helpful Facts

Choose one of the states below.

Tax Forms
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