3 minutes read
The notion of taxes can be stressful for anyone, and so can the holiday season. While reading about taxes and finances could destroy the holiday spirit for some, it is a great idea to be cognizant of the various holiday tax deductions to make the season much less stressful. Below is an overview of some common last minuet tax deductions and tax break opportunities that you can take advantage of this holiday season before you close the books on 2013
9 minutes read
In a recent landmark ruling by the Obama Administration, the federal government will recognize same-sex married couples. That means for one, married same-sex couples will no longer have to file two separate single tax returns for the IRS (however, if they currently reside in a state that does not recognize same-sex marriages, they may still have to file two separate state returns). But the IRS has not released any guidance about how employee...
3 minutes read
Unemployment can be stressful enough without having to figure out the tax treatment of the unemployment benefits you receive. Unemployment compensation generally includes, among other forms, state unemployment compensation benefits, but the tax implications depend on the type of program paying the benefits. You must report unemployment compensation on line 19 of Form 1040, line 13 of Form 1040A, or line 3 of Form 1040EZ.