10 Tax Savings For Working From Home

Taxpayers tend to shy away from taking the home office deduction, assuming that they will be targeted for increased scrutiny from the IRS. That is certainly possible, especially if your deductions are unusually large – but if you truly were entitled to the deduction, why wouldn’t you take it? Assuming you reviewed IRS Publication 587,…
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How To Claim Tax Breaks For Dependents

Did your kids get a taste of the real world and decide that living off Mom and Dad was not so bad after all? Cheer up… you may still be able to claim them as dependents on your taxes. Dependents can save money on your taxes in two ways: through individual exemptions and the potential…
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What To Do If You Get A Dreaded IRS Letter

Have you ever received one of those love letters from the IRS that says you owe them more money? Occasionally a client calls me in a panic when they receive one. Most of the letters I have seen are due to the client or the tax preparer forgetting to include the sale of a stock…
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Tax Benefits For Education

If you are paying college expenses for yourself or for one of your dependents, you may be able to deduct the tuition and fees on your federal tax return. Qualified tuition and fee expenses may be partially deducted as long as the expenses are not paid by others through programs such as scholarships, grants, or…
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DC Court Rules CFPB Structure Unconstitutional

Which Is True? The Consumer Financial Protection Bureau (CFPB) is an independent consumer and financial watchdog agency that offers advice to consumers and levies fines against financial institutions engaged in questionable practices. The CFPB is an unchecked, poorly controlled agency that restricts the opportunity of financial institutions to operate within a free market and applies…
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