What NOT to Do on Your Taxes

May 7th, 2015 at 11:28 am — By admin

Filing taxes is a painstaking process for almost everyone and every year, without fail, many returns full of mistakes are sent in to the IRS. In fact, mistakes are extremely common on tax returns, with an error rate of 50 percent; on self-prepared returns, according to the Government Accountability Office. There is a near-infinite number of… Continue reading

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What Same-Sex Couples Need to Know About Filing Their Taxes

April 28th, 2015 at 10:48 am — By admin

When the Defense of Marriage Act (DOMA) was ruled unconstitutional by the Supreme Court in 2013, the U.S. government was compelled to recognize at the federal level same-sex marriages from any state where they’ve already been legalized. Nevertheless, no matter if you live in a state where same-sex marriage is recognized, partially recognized, or illegal,… Continue reading

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Which States Are Toughest on the Average American Taxpayer?

April 14th, 2015 at 3:19 pm — By admin

Let’s face it: income inequality exists. However, local and state taxes have a big role to play in the redistribution of wealth. Some states have less stringent tax policies than other states—a relief to many taxpayers who would otherwise have to tithe their income to Uncle Sam. However, many state tax systems are considered regressive,… Continue reading

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Tax Records You Should Keep – And the Ones You Can Toss

April 14th, 2015 at 3:06 pm — By admin

The filing deadline for 2014 tax returns is April 15, 2015. Because the Internal Revenue Service (IRS) can audit tax returns for up to three years after the tax filing deadline, you should plan to keep your tax returns from 2012, 2013, and 2014 after this year’s tax filing deadline. In most cases, you can… Continue reading

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Last Minute Tax Tips

April 14th, 2015 at 2:34 pm — By R&G Brenner

As the the clock approaches midnight on the 2015 tax season, many taxpayers still haven’t filed their tax return yet.  While procrastination is common for many when it come to filing taxes, this year we are seeing a higher number of last minute filers.  The winter was brutal on the east coast; extreme cold & snow produced… Continue reading

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Can Tax Reform Help the Working Poor?

April 3rd, 2015 at 5:01 pm — By admin

Poverty is a global issue, from developing nations and those struggling with corruption or political turmoil to economic superpowers like the United States. In fact, a 2014 report from the Census Bureau reported that the poverty rate in the U.S. actually rose—one in five American adults now lives below the poverty line, up from one… Continue reading

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Can A Tax Help Combat Childhood Obesity?

March 26th, 2015 at 5:56 pm — By admin

Childhood obesity is a complex issue, ad medical experts and social scientist have been in a gridlock about how to fix the problem for years. Now some economists argue that taxing junk foods could tip the scales in the right direction. One study by the University of North Carolina showed that a 10% price increase… Continue reading

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The Only Two Countries to Tax Citizens Living Abroad? The United States and China

March 23rd, 2015 at 4:00 pm — By admin

Of all the sovereign nations on the planet, there are only two that tax their citizens’ income earned while living abroad: the United States and, perhaps surprisingly, China. Most countries ascribe to the philosophy that taxation should be primarily national rather than global, but both the United States and China require their citizens living abroad… Continue reading

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Is Your Investment Portfolio Tax Efficient?

March 16th, 2015 at 11:53 am — By admin

Having a tax-efficient investment portfolio is a plus for many taxpayers. What makes this a desirable strategy when it comes to paying Uncle Sam and how can you make your investment portfolio even more tax efficient? There are plenty of ways to make more efficient investments and be financially savvy whether you’re investing on your… Continue reading

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5 Quick Tips for First-Time Tax Filers

March 12th, 2015 at 5:10 pm — By admin

Taxes may be one of the only certain things in life, but that doesn’t mean that filing them is easy. This is especially true if you are a young adult filing your first tax return. If you are single and earned an income greater than $10,000 in 2014, you are required to file a federal… Continue reading

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