Category: Tax

The Skinny on Tax-Deferred Retirement Accounts

Just about anyone could benefit from a tax-differed retirement account. These accounts, most commonly known as 401Ks or IRAs, are a great way to save for retirement and in many cases save on taxes. The real question is when do

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Which Is Higher, Your Food Bill or Your Tax Bill?

How high is your tax bill? Would you say you spend more on taxes than you do on food? What about clothing and shelter; do you spend more on them than you do on your taxes? The answer might surprise

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Why Taxing the Rich to Help the Poor Doesn’t Work

How many of you remember the Comedy Central game show: “Win Ben Stein’s Money?” The host, Mr. Stein, would challenge his opponents in answering trivia questions and actually give away his own money to those who beat him. That show

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Now Is the Time to Fix California’s Messed up Tax Code

The California tax code is about as healthy as the federal tax code. In other words, it needs a lot of work. Of course, there are many interested parties that are all hard at work trying to create plans that

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Thieves Steal Confidential Taxpayer Info Via IRS Website

Just when you thought you were safe to access important and confidential information via the IRS website, it turns out scammers are at it again. According to reports from the IRS, thieves have managed to break into one of the

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SEC Penalizes Deutsche Bank for Questionable Accounting Issues

Accounting mistakes can happen to anyone, whether you’re self-employed, have a small business with just a few employees, or you run a major corporation. However, even when mistakes happen, the consequences can be damaging. When those mistakes, or irregularities, involve

Obama Administration Looking to Make Art Collectors pay

Just last week we discussed how investors could save a lot of money on taxes from selling expensive collectibles like art. Well now it appears that the Obama Administration is apparently looking to put a stop to this particular tax

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Tax Fraud Getting More Advanced – Are You Prepared?

It used to be that tax fraud was fairly cut and dry. Essentially, it involved an individual or company who, for various reasons, tried to purposely fudge on their taxes, either by understating their income or by trying to completely

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How To Avoid Taxes on Income From Selling Expensive Art?

Are you a collector of rare and expensive art? Are you tired of getting hit with high tax bills every time you sell one of your pieces? Anyone who deals with extremely value collectibles like artwork knows how expensive these

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Is Your 2015 Tax Plan Ready?

How did your 2014 tax season go? Was it a success, or did it lack something to be desired? Did you get a nice return, or did you end up owing the IRS more than you expected? Did you make

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