Archive for the Tax Category

Saving for retirement is very important, since the average American spends 20 years in retirement.  Everyone needs to make saving for retirement a priority, especially since we are living longer with healthier lifestyles and medical advances.  And, we all know that we cannot rely on Social Security. 

Has your friend, neighbor or colleague told you that if you take the home office deduction, it will be a “red flag” to the IRS that will trigger an audit? Well, that is just not true! 2017 is the last tax year that you can take a

Overview:  If you receive an audit notice from the IRS, do not panic.  First, read the letter completely through to see what they are auditing.  If you can handle the audit yourself, without getting emotional or defensive (or rambling), then do so.  If you don’t have the

Do you know how long you are supposed to keep documents?  Do you know when it’s safe to shred?  Having this knowledge is the first step to good recordkeeping. By following these guidelines, you can keep your documents and files organized and updated. Avoid keeping things you

Even after a devastating housing crash, the majority of Americans have not given up the idea that home ownership represents their economic dream. When a builder plans to build a home, does he not consider the cost?  Before you purchase, you should make sure you really can

Want to save money in taxes WITHOUT working harder? One way is to shift income from a higher bracket taxpayer to a lower one or even a zero rate-bracket. Typically, splitting the income between family members by hiring them to work in the business will save thousands

Have you ever wondered about estimated tax payments, and if or when they affect you? Although you may never have had to worry about them before, a change in your income or situation may put you in a position of needing to make these payments during the