First | Prev Page 1 / 1 | Next | Last

17 Red Flags for IRS Auditors

Ever wonder why some tax returns are eyeballed by the Internal Revenue Service while most are ignored? Short on personnel and funding, the IRS audited only 0.70% of all individual tax returns in 2016. So the odds are pretty low that your return will be singled out for review. And, of course, the only reason filers should worry about an audit is if they are fudging on their taxes.
Read more →

10 Worst States To Live In For Taxes

Lots of people fret about how much they have to pay Uncle Sam, but he’s not the only tax man you have to worry about: Your state can squeeze you for plenty of taxes, too. State income taxes or property taxes could cost you thousands of dollars every year. High sales taxes or gas taxes could slowly drain your funds every time you pull out your wallet.
Read more →

Tax Strategies for Retirees

Nothing in life is certain except death and taxes. —Benjamin Franklin. That saying still rings true roughly 300 years after the former statesman coined it. Yet, by formulating a tax-efficient investment and distribution strategy, retirees may keep more of their hard-earned assets for themselves and their heirs. Here are a few suggestions for effective money management during your later years.
Read more →

23 Tax Deductions You Can't Afford to Overlook

Years ago, the fellow running the IRS told Kiplinger's Personal Finance magazine that he figured millions of taxpayers overpaid their taxes every year by overlooking just one of the money-saving tax breaks listed here. We’ve updated all the key details in this popular guide to the common tax deductions many filers miss to ensure that your 2016 return is a money-saving masterpiece. Cut your tax bill to the bone by claiming all the tax write-offs you deserve.
Read more →

9 IRS Audit Red Flags for Retirees

In 2015, the Internal Revenue Service audited only 0.84% of all individual tax returns. So the odds are generally pretty low that your return will be picked for review. That said, your chances of being audited or otherwise hearing from the IRS escalate depending on various factors. Math errors may draw an IRS inquiry, but they’ll rarely lead to a full-blown exam. Whether you're filing your 2015 return in October after getting an extension or looking ahead to filing your 2016 return early next year, check out these red flags that could increase the chances that the IRS will give the return of a retired taxpayer special, and probably unwelcome, attention.
Read more →

10 Least Tax-Friendly States for Retirees 2016

Retirees have special concerns when evaluating state tax policies. For instance, the mortgage might be paid off, but how bad are the property taxes—and how generous are the property-tax breaks for seniors? Are Social Security benefits taxed? What about other forms of retirement income—including IRAs and pensions? Does the state impose its own estate tax that might subtract from your legacy? The answers might just determine which side of the state border you’ll settle on in retirement.
Read more →

Three Year-end Tax Reduction Tips

Even though April 15 now seems a distant deadline for filing your 2015 tax returns, in order to take advantage of some of the biggest tax reduction strategies, you have to act before the end of this year. Without further ado, here are three "go-to" maneuvers that you may want to execute by December 31.
Read more →


First | Prev Page 1 / 1 | Next | Last