Taxes File Folder

Be Diligent About Saving Your Tax Records

You’re probably getting ready to sort out last year’s financial records and prepare for this year’s recordkeeping. But what should you keep and what can you throw away? Here are some suggestions.   Read more

Taxes File Folder

Some Deductions Are Available Even If You Don’t Itemize

If you’ve given up itemizing deductions, you’re not alone. These days over half of all taxpayers find they’re better off using the standard deduction. But even if you take the standard deduction, you can also deduct some individual expenses on your 2011 tax return, including the following: Read more

Beautician

Four Tax Tips Regarding Tip Income

WASHINGTON – IRS TAX TIP 2012-14 – If your pay from work involves compensation through tips, then the IRS would like you to be aware of a few facts about tip income. Here are four key points to keep in mind: Read more

Happy Children

Six Important Facts about Dependents and Exemptions

WASHINGTON – IRS TAX TIP 2012-07 – Even though each individual tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include dependents and exemptions. The IRS has six important facts about dependents and exemptions Read more

Finance

Tax Time is the Right Time for a Financial Review

Now is an ideal time to review your financial affairs. You have to gather information to prepare your tax return at this time. Why not take one more step and do something positive for your financial well-being? Read more

Recordkeeping is Required for Charitable Deductions

Get the documentation you’ll need for all your 2011 charitable contributions, or you risk losing your deduction. Even gifts under $250 require a bank record or a receipt from the charity.

Phishing Scams

Don’t be Scammed by Cyber Criminals

WASHINGTON – IRS TAX TIP 2012-08 – The Internal Revenue Service receives thousands of reports each year from taxpayers who receive suspicious emails, phone calls, faxes or notices claiming to be from the IRS. Many of these scams Read more

Bring Your Corporate Minutes up to Date

Writing up the minutes of board of directors’ meetings is not exactly a high priority for most business owners. Yet well-documented corporate minutes can provide Read more