The IRS has made preventing identity theft a top priority this year. Here’s what identity thieves have been doing: They steal a taxpayer’s personal information and use it to file a tax return claiming a refund under the taxpayer’s name. Then when the...
Over the coming years, millions of baby boomers will reach age 62, the minimum threshold for receiving social security retirement benefits. If recent history is any indication, most of these people (over 70% by some estimates) will take their benefits as early as...
Emotions add zest to life. They propel us to our feet when our favorite running back scores a touchdown. They warm us at an inspirational concert or movie. But in the realm of business, emotions sometimes hinder good choices. In fact, business owners and managers...
Most taxpayers believe that a “dependent” is a minor child that lives with them. While that is essentially correct, dependents can include parents, other relatives and nonrelatives, and even children who don’t live with you. There is really much more...
The IRS is reducing the recordkeeping required for the home-office deduction, effective for 2013. Taxpayers who qualify may use a new optional deduction calculated at $5 a square foot for up to 300 square feet of an area in a home that is used regularly and...
The delayed passage of the “American Taxpayer Relief Act of 2012” has put the IRS behind schedule. Due to several provisions of the law affecting 2012 tax returns, the IRS could not open the Form 1040 filing season for the majority of taxpayers until late...
