Tax Advice

Tax Quiz: Is It Deductible?

posted: 232 DAYS 7 HOURS AGO

filed under: Taxes, Tax Advice, AMT, Audit, Tax Basics, Tax Credit, Tax Deduction

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Ever have sticker shock over the bottom line of your tax return and start to think about some "creative accounting," looking for deductions wherever you can find them? Before you get into trouble, test how well you know what is and isn't deductible.

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5 Smart Uses for Your Tax Refund

posted: 233 DAYS 4 HOURS AGO

filed under: Taxes, Tax Advice, Tax Basics, Tax Deduction

In these tough economic times, any extra money you get is particularly helpful. And you're smart to start thinking about what to do with this small windfall before it even arrives -- that way, you'll be less tempted to use it for everyday expenses. Instead, here are five smart uses for your tax refund that can improve your long-term financial situation.

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10 Things the IRS Won't Tell You

posted: 235 DAYS 7 HOURS AGO

Tax preparation is more complicated this year than even, especially for people who have had drastic shifts in their financial situation, and that's all the more true because the IRS is keeping some secrets from you.

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Plan Ahead for Your 2010 Taxes

posted: 247 DAYS 4 HOURS AGO

filed under: Taxes, Tax Advice, AMT, Audit, Tax Basics, Tax Credit, Tax Deduction

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Tax Day for your 2008 return is just around the corner, but it's not to early to start thinking about all the new credits you'll be getting on your upcoming filings thanks to the stimulus bill. Here's your guide to planning ahead for 2010!

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Tax Credits vs. Tax Deductions

posted: 247 DAYS 6 HOURS AGO

One comes off the bottom line, and the other is blended into your tax calculations. Which one is more valuable to you? Our video explains the difference.

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What Will the IRS Do to You?

posted: 250 DAYS 1 HOUR AGO

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What happens when you cheat on your taxes? For one thing, you could lose your nomination for a cabinet position in the Obama administration. You could end up in jail like Wesley Snipes, or you could end up with a big fine. You may think these kinds of penalties only happen to the famous tax cheats, but regular folks get in hot water too.

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The Stimulus And Your Tax Bill

posted: 261 DAYS 5 HOURS AGO

Our partners at SmartMoney continue to break down the stimulus plan and what it means to your tax bill. Today's installment contains all you need to know about homebuyer credits, the AMT, education credits and unemployment payments.

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Tax Tip: Seniors Mark April 1

posted: 262 DAYS 5 HOURS AGO

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SmartMoney offers today's tax tip: for seniors who turned 70-and-a-half in 2008, not to forget to make the necessary IRA withdrawals by April 1. There are tax implications to taking out your money, so if you qualify, you better read on...

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Get Your Free Tax Prep Here!

posted: 269 DAYS 5 HOURS AGO

filed under: Taxes, Tax Advice, Tax Basics, Tax Credit, Tax Deduction

If paying a professional to do your taxes just isn't in your budget this year, don't worry, you don't have to be left to your own devices! The IRS' VITA program and a new program from Wal-Mart and the United Way can help. WalletPop went to visit one VITA office to see what a good offer it is...