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What's News: Business & Finance
WSJ.comApple's tax strategies came under harsh scrutiny in the Senate, where lawmakers are finding it easier to call for a simpler tax code than to produce one. CEO Tim Cook defended the company's practices and said it pays all taxes due.
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Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
WSJ.comWASHINGTON—Apple Inc.'s tax strategies came under harsh scrutiny Tuesday in the Senate, where lawmakers are finding it far easier to call for a simpler tax code than to produce one.
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Legalities; A Global Love Affair; Marriages among different nationalities are up, but so are the tax and estate issues.
WSJ.comLOVE HAS NO BORDERS, of course, which may help explain why it's not just the economy that's gone global. To hear estate and tax planners talk, cross-border marriages are skyrocketing—along with a host of international estate and ...
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Tuesday's Personal Finance Stories
MarketWatchDon’t miss these top stories:Why IRS scandal is good for tax cheatsWhen ‘loser’ ETFs close, investors can lose too.Gen Xers may never be able to afford to retire.
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Why IRS scandal is good for tax cheats; The last time the IRS was under this much scrutiny, audits fell by 50%
MarketWatchAs lawmakers and government officials probe the Internal Revenue Service’s targeting of conservative groups, tax cheats may be smiling.In addition to facing multiple congressional hearings and a change in leadership, thanks to budget cuts, ...
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When ‘loser’ ETFs close, investors can lose too; Tax bills and ‘survivorship bias’ can trip up the unwary
MarketWatchNext month, iShares, the largest exchange-traded fund provider by assets, will do something it hasn’t done in more than a decade: close one of its 290 ETFs.
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What if you never file your tax return? Commentary: Answer the IRS’s calls, save money
MarketWatchThe Internal Revenue Service hasn't been under such intense public scrutiny since the hearings in the 1990s that led to the Tax Reform and Restructuring Act of 1998 (also known as the Taxpayer Bill of Rights 3). Last time, the targets were ...
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Tax Court Slaps Down IRAs Holding 'Alternative Assets'
WSJ.comA U.S. Tax Court decision offers a cautionary tale for people who want to invest individual retirement account funds in "alternative" assets, especially operating businesses.
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A Nervy Approach to Retirement Saving; Forget your 401(k) plan. The big money today is building nest eggs on everything from show horses to rock bands.
WSJ.comRICK KAHLER can't explain the mysteries of string theory, speak Mandarin or quote long passages from the Odyssey, but after buying and selling hundreds of properties for 30 years, he has a virtual Ph.D. in real estate.
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How Social Security Math Adds Up
WSJ.comQ:In a recent column, you said the maximum earnings subject to Social Security taxes increased from $110,100 in 2012 to $113,700 in 2013. That is a 3.27% increase. Social Security recipients received a 1.71% increase in benefits from 2012 ...
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10 U.S. cities with the lowest taxes
MarketWatchThe District of Columbia’s Office of Revenue Analysis reviewed the estimated property, sales, auto and income taxes a family paid in 2011 in the largest city in each state. One of the biggest factors in how much a family can expect to pay ...
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How to convert your home into a rental; You can probably shelter most of the rental income with tax deductions
MarketWatchIf your local real estate market is on the upswing, you might be thinking about becoming a landlord. You might even consider doubling down by renting out your current residence and buying another place to live in. If you convert your ...
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Importance of reporting overseas assets; There’s no fee to file, but huge penalties if you don’t
MarketWatchThis week, the Internal Revenue Service announced a cooperative effort to combat offshore tax evasion, teaming up with the tax authorities in the United Kingdom and Australia. The IRS has already closed off Switzerland, once a major haven ...
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Taxing Problem for an Immigration Plan
WSJ.comSenators who want to offer legal status to the nation's 11 million illegal immigrants often say that the process won't be speedy or easy. Among other things, illegal immigrants would first have to pay all back taxes they owe.
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Retiring Your Tax Bill
WSJ.comIt's getting trickier to put up your feet and sidestep taxes at the same time.Investors getting ready to retire have long looked at state and local tax laws in deciding where to settle when their working days are over, alongside sunny ...
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Online sales tax: fair or foul? The proposed sales tax law would impact buyers and sellers
MarketWatchBack in 1998, Congress promised not to tax the Internet, when it passed the Internet Tax Freedom Act. Well, that promise is about to be broken by the Marketplace Fairness Act. Sort of.
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A Medicare tax break; Some self-employed can deduct Medicare insurance premium
MarketWatchIf you work for yourself, I hope you already know about the deduction for self-employed health insurance premiums. It is allowed for sole proprietors (including single-member LLC owners who are treated as sole proprietors for tax purposes), ...
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You Can 'Amend' Tax-Filing Errors
WSJ.comIf you just discovered a costly mistake on those tax returns you filed recently, don't despair.Every year, millions of frazzled taxpayers make mistakes, ranging from forgetting to include some of their income to overlooking valuable ...
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More tax advantages of being a landlord; Commentary: Other things to consider before collecting rent
MarketWatchWith local real estate markets now improving in many areas (drastically in some cases), who can blame you for thinking about becoming a landlord? Plus there are some nice tax advantages of being a landlord, as I explained last week.
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Time for an online tax-free shopping spree? 4 things to buy before Congress passes the sales-tax law
MarketWatchThe Senate is expected to vote Monday on the Marketplace Fairness Act, which requires online retailers to collect sales tax on all purchases. Under current law, states can only require online sellers to collect sales tax if they have a ...
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How to calculate taxes owed on stock sales; Consider the options for determining your tax bill on investments
MarketWatchOne of the toughest calculations taxpayers have to make is figuring out how much they owe Uncle Sam for their investment income.Taxpayers generally have two options when calculating taxes owed after selling stock holdings, but there’s more ...
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4 reasons to amend your tax returns; The IRS allows taxpayers three years to claim additional refunds
MarketWatchEarlier this month, my colleague Jonnelle Marte explained how to correct your tax filing with an amended return. As the IRS explained, sometimes you don’t have to bother amending -- the agency will essentially do it for you. But there are ...
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'Don't Just Spend It'—Smart Moves for Your Tax Refund
WSJ.comIt's that time of year again. Many taxpayers who actually managed to get their tax returns in before last week's April 15 deadline, rather than filing for a six-month extension, are looking forward to their refunds.
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Never throw away your tax returns; Why you may need those old 1040s someday
MarketWatch“Man forced to put off retirement for two years due to lost tax records.” Could that happen to you? Yes, it could. Or worse.One of the most frequent questions that comes to TaxMama is — Can I throw out my tax records? Really, how long must ...
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Barack Obama, budget editor-in-chief; White House cut more words than dollars in 2014 budget
MarketWatchThe proposal unveiled today shows that President Obama did cut the budget — by 16 pages.At 240 pages, the 2014 budget proposal is 6.25% slimmer than its 2013 counterpart. In contrast, actual spending in the budget was cut by only 0.7%. But ...
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Reward yourself for finishing your taxes; With few consumers in a spending mood, April brings a lot of deals
MarketWatchWhen most of us think of April, we immediately think of paying our taxes.Indeed, April is probably the month we spend the least because we are holding off to see what we will be giving to Uncle Sam. But if you’re in a spending mood this ...
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Obama's Budget: Other Tax Proposals
WSJ.comPresident Barack Obama's fiscal year 2014 budget proposes a host of tax increases on individuals. Some are new, while others appeared in earlier budgets. Here are a few, with the 10-year revenue estimate for each:
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Hiring your parents to watch your kids; It might be a win-win situation, but there are some tax issues
MarketWatchMost people think tax season is torture — and this year, it was more tortuous than usual. We started with longer delays for e-filing, confusion about qualifications and licensing of tax professionals, and endless wrangling about a new ...
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The tax advantages of being a landlord; Commentary: One reason many fortunes are made in real estate
MarketWatchAre you sure you want to be a landlord? I have clients who love to regale me with stories about their fun experiences with tenants. Like the one who took almost every fixture when he moved out: carpeting, curtain rods, towel bars, you name ...
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Why high-yielding muni bond funds are falling; Tax treatment uncertainty, high volatility rattle investors
MarketWatchNEW YORK (MarketWatch) — Enthusiasm for closed-end municipal bond funds, long a favorite of income-starved investors, is starting to wane.The funds, which use leverage to magnify yield, have been a go-to investment. But prices are down in ...
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Hire your kid, get a tax break; Commentary: There are many tax advantages to child labor
MarketWatchBy now, your tax return for last year has probably been filed, and it’s time to focus on cutting taxes for the rest of this year. So here’s an idea for those running a small business as a sole proprietorship or husband-wife partnership. ...
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April 15 isn’t this month’s only tax deadline; An April to-do list
MarketWatchApril is the height of spring — and a total financial drain. Do you know how many different tax-related payments you have to make this month? Let’s take a look at them all.
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The Top Tax Scams to Watch For
WSJ.comAs the tax-filing deadline draws closer, beware of scam artists trying to lure you into handing over sensitive personal financial information that can be used to steal your identity and raid your financial accounts.
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Two dozen indicted in federal fraud case; IRS workers, CPAs commit fraud—and worse
MarketWatchMost U.S. taxpayers spend far more time worrying about making a mistake on their tax return than trying to scam the system. Not so for some IRS workers and tax preparers.
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Don’t bother calling your accountant today; On April 16th, most CPAs take a holiday.
MarketWatchWant to amend something on your just-filed tax return? You may have to wait until at least April 17.In the tax-preparation world, April 16 has gained fame as the unofficial “accountant holiday” — a much-needed respite following weeks of ...
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8 tips to trim your retirement tax bill; Long-term tax strategies that can preserve your nest egg
MarketWatchSaving money for retirement is difficult enough. Don’t undermine your hard work by paying a steeper-than-necessary tax bill.Planning for taxes is complicated, of course, and will vary depending on your situation. Consulting an expert makes ...
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It's Easy to File for an Extension
WSJ.com"Taxes:"Of life's two certainties, the only one for which you can get an automatic extension."This observation comes from "Buzzwords: The Official MBA Dictionary," a delightful book written about 30 years ago by John Freund and David ...
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When seller-financed home sales go south; Commentary: The tax results can sometimes be quite good
MarketWatchSay you sold your principal residence for a nice profit a few years ago in a seller-financed deal. That means you took back a note from the buyer to cover part of the sale price. Unfortunately, not all seller-financed deals turn out as ...
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Are You Ready for the New Investment Tax?
WSJ.comIt's time to grapple with the new 3.8% tax on investment income.The ordeal of 2012 taxes is barely over. But it isn't too early to understand and cushion the blow of the investment-income levy, which Congress passed in 2010 to help fund the ...
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Friday's Personal Finance Stories
MarketWatchDon’t miss these top stories:Senate spares e-books from sales tax.Why everyone is wrong about austerity.Investing tips from the NFL Draft.Online pharmacies carry a big dose of risk.
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Wages Subject to Social Security Tax
WSJ.comQ:What is the maximum amount of wages and self-employment income subject to the Social Security tax this year? What about Medicare taxes? How do they work?
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8% of Americans to qualify for health subsidies; Tax returns used as basis for credits under Affordable Care Act
MarketWatchAbout 8% of Americans will qualify for the new federal health-insurance subsidies next year, according to a report released today.A study by Families USA, a Washington, D.C.-based nonprofit group that advocates for lower health-care costs, ...
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It's Tax ID-Theft Season
WSJ.comWhat is worse than filing your tax return? Finding out someone already did—using your name and Social Security number to grab an illegal refund.
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6 ways to avoid a tax audit by the IRS; Minimize your chances of a follow-up from the IRS
MarketWatchWhile the government has cracked down in recent years on wealthy Americans stashing millions in offshore accounts, tax pros say it isn’t just the high rollers who might merit a double take from the IRS.
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Is sales tax on e-books, iTunes next? Tax-free digital content’s days may be numbered
MarketWatchMost online purchases will be subject to sales tax under the law under consideration in Congress. But there’s one big exception: digital books, music, or any other content composed of ones and zeros.
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The Taxable Downside of Debt Forgiveness
WSJ.comYou may have shored up your finances by settling most nonmortgage debt with creditors in 2012, but there's no escaping the tax man: The Internal Revenue Service expects you to pay taxes on that dodged debt, which is now considered "income."
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The IRS is too busy to talk to you; Getting the tax man to pick up the phone may be tougher this year
MarketWatchThis week it may be easier to get Barack Obama on the phone than the IRS.The days following Presidents Day tend to be the toughest times to phone the tax man, since the number of returns filed — and inquiries about refunds — spike just ...
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4 tax breaks for a bad economy; Commentary: There are upsides to tough times come tax time
MarketWatchWhile the economy has improved, it’s still underperforming, and it may not have gotten any better for you personally. So let’s cover some tax-saving opportunities that are likely to be helpful between now and whenever the sunshine really ...
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Why You Might Need a Six-Month Extension
WSJ.comFor taxpayers who can't manage the April 15 deadline, the Internal Revenue Service offers an automatic six-month filing extension. This year the due date is Oct. 15, and taxpayers qualify by filing Form 4868.
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Gift Taxes: What Your CPA Doesn't Know
WSJ.comTaxpayers who gave substantial assets to family members last year could be in for a nasty surprise this tax season: potential errors on federal gift-tax returns that could result in donors owing taxes on gifts they thought were tax-free.
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More Returns Can Soon Be Filed
WSJ.comSome people have a good reason for not filing their tax returns yet: They can't.But procrastinators, beware. That excuse will soon disappear.
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Taxes; It Could Be Worse; The U.S. has a long history of (very) high tax rates. How does 91 percent feel?
WSJ.comAND NOW FOR a history lesson. As Americans prepare their taxes for April, the annual pain begins. It could be worse: For more than half the time the income tax has been around, the top rate on individuals was sky-high by current standards.
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H&R Block snafu delays refunds; Mandatory field on tax form left blank, IRS says
MarketWatchDue to an editing error, a previous version of this article incorrectly characterized the IRS’s statements.A tax-preparation software glitch caused more than 600,000 returns to be filed incorrectly, delaying refunds by as much as six weeks, ...
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Tax Tips for Life's Big Changes
WSJ.comSometimes life's biggest changes can save you a bundle in taxes—if you know how to take advantage of them.What was new in your life last year? Did you get married or divorced, or adopt a child? Did your parents move in—or your adult child? ...
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3 last-minute moves to lower your tax bill; Commentary: There’s still time to take advantage of these tax breaks
MarketWatchAlthough 2012 is in your rear-view mirror, it’s not too late to make some moves that will save taxes on Form 1040 and maybe on your state income tax return as well. Here are three possibilities.
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Is it better to buy or rent a home? Crunching the numbers on the perennial real-estate question
MarketWatchDespite the fact that home mortgage interest rates are near record lows, only 65.4% of Americans own homes, according the U.S. Census Bureau’s 2012 report. (See Homeownership Rates by State: 1984 to 2012) In fact, home ownership in the U.S. ...
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'Nanny Tax' Offenders Get a Break
WSJ.comEmploying a nanny or other household workers can open a can of worms with the Internal Revenue Service, but the agency wants to make it easier for people who mishandle taxes for their hired help to put things right.
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Last-Minute Tax Tips
WSJ.comDespite the year-end cliffhanger on Capitol Hill, lawmakers made few surprising changes to the tax code for 2012.But that doesn't mean taxpayers won't stumble into trouble, given the rise of electronic filing, expanded reporting ...
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The gay marriage stimulus package; Experts say legalizing same-sex marriage could spur economic growth
MarketWatchThe Supreme Court reconvened Wednesday for a second day of arguments on the rights of same-sex couples to marry. Whatever the high court decides, the controversial issue is proving to be not just a social and civil rights issue, experts ...
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Who Will Get Hit With New Tax?
WSJ.comQ: How high does your income have to be to get hit by the new investment-income tax?C.F., Rancho Santa Fe, Calif.A: Our reader is asking about a surtax of 3.8 percentage points on net investment income. This new tax, enacted in 2010 to help ...
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Rethink Your Withholdings for 2013
WSJ.comMillions of people look forward to receiving their income-tax refunds each year.Getting a tax refund may seem like a safe and reliable way to force yourself to save. If that's the only way you know how to save, so be it. But for most of us, ...
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By Laura Saunders; When Your Broker 'Outs' You
WSJ.comLast year, did you sell stocks, mutual funds or exchange-traded funds held in a taxable account?If so, read this before you file your 2012 tax return.
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20 ways to make the most of capital gains; Not just stock and fund shares are eligible for favorable tax treatment
MarketWatchIf you’re a stock or mutual-fund investor, then you probably know that investments held for more than a year and sold for a profit are subject to lower tax rates as long-term capital gains. Generally speaking, if you’re in the 25% tax ...
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The 'Other' College-Savings Account
WSJ.comAn education savings account that recently won permanent status could offer an extra boost to families facing big school bills in the future.
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Filing your taxes? 7 things to check first; You’re responsible for what’s in it — whether you prepare it or not
MarketWatchIf you’re not checking your tax return before it gets sent to the IRS, you could be in for some nasty surprises.Did you find a tax pro who swears she can get you better refunds than anyone else in the world? Do all her clients get great ...
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Taxes after the death of a spouse; Commentary: Four steps to navigating your changed tax situation
MarketWatchIf your spouse died last year, it of course affects your 2012 federal income tax return. But there are other tax implications as well. Here are four of the most important things to know.
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Annoying Tax Errors to Watch Out For This Year
WSJ.comTax specialists say some common and easily avoided errors for 2012 can cost taxpayers dearly. Here are the most important.• Overlooking retroactive changes Congress made in January. Lawmakers reinstated for tax year 2012 some provisions ...
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Crunch time tax to-do list; A rundown of which tasks need to get done in March
MarketWatchTraditionally, March comes in like a lion and goes out like a lamb. That makes sense for the weather, but does it also apply to taxes?March 1
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Getting more time from the tax man; Can’t get your tax act together by April 15? File for an extension
MarketWatchTick, tock. Uncle Sam’s April 15 deadline for your 2012 return is looming, and you aren’t nearly ready to file? Now could be the time to come up with a backup plan. Fortunately, the Internal Revenue Service has some sympathy for ...
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The gay-marriage tax penalty; Unable to file joint tax returns, gay couples face bigger bills, hassles
MarketWatchThere’s no gay marriage on form 1040.Same-sex couples can legally wed in nine states and the District of Columbia. This week, 80 prominent Republicans urged the Supreme Court to make it the law of the land. But come tax time, married gay ...
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Spend That Tax Refund Wisely
WSJ.comAlina Lane's 2012 tax refund came in the mail last week. But she planned how to spend the money long before it arrived.The 26-year-old will put a chunk of the roughly $3,800 refund toward paying her student loans from dental school after ...
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Buy a home in Europe, get a lower interest rate? Lenders abroad may offer better deals, but approval can be tougher
MarketWatchLooking to live abroad? Americans who get a mortgage from an overseas lender can end up with lower interest rates, more lenient repayment terms and tax perks to boot.
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Fix your home, save on taxes; Overlooked tax breaks for energy-saving home improvements
MarketWatchUncle Sam offers two different tax credits for energy-efficient home improvements.One expired at the end of 2011, but the fiscal-cliff legislation resurrected it for 2012 and 2013. The other credit covers expensive stuff and can be a big ...
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Child-care tax breaks for working parents; How to take advantage of tax savings available to all earners
MarketWatchYou may have to pay child-care expenses for your kids so you can work. Thankfully, a federal income tax credit can help pay the bills. It’s available to all eligible parents regardless of income, although lower-income folks get bigger ...
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Taxpayers’ newest headache: Congress; Deadlock on sequestration could delay refunds, increase fraud
MarketWatchIf lawmakers fail to reach a deal on sequestration by Friday, officials say the $85 billion in federal cuts that would go into effect would clobber the Internal Revenue Service during its busiest time of year.
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Tax breaks for everyone (even top earners); Some perks are available to just about anybody — regardless of income
MarketWatchIf you’re a high-income type, you’re probably painfully aware that some tax breaks are phased out (either reduced or eliminated) as your adjusted gross income, or AGI, increases. That’s the price of success, right? Well, not necessarily. ...
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Tax breaks for mutual-fund investors; Invest in international shares? Don’t pay the IRS more than necessary
MarketWatchPart of being a smart mutual-fund investor is making sure you walk away with as much profit in your pocket as possible. This means avoiding load funds (usually, anyway) and funds with ridiculously high expense ratios.
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The Nanny-Tax Amnesty
WSJ.comIt is all too easy to fumble taxes when paying a nanny or other household worker. But the Internal Revenue Service is making it easier for people who mishandled such issues to make things right.
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'Lost Generation' Feels Italy's Fiscal Squeeze; Forty-Somethings Pay Price of Austerity in Higher Taxes, but Will Reap Lower Pension Benefits
WSJ.comROME—Forty-something Italians are facing austerity for the rest of their working lives—just as they have since becoming adults."We are the lost generation," says Andrea Bolla, the 46-year-old chief executive of energy provider Vivigas and ...
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A New Prescription for Taxes
WSJ.comThis year, several important tax changes tied to the federal health overhaul will start affecting consumers—including new limits on medical deductions and higher tax rates for some higher-income taxpayers.
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The New Capital-Gains Maze
WSJ.comChances are your capital-gains taxes are going up this year—and if you aren't careful, you could end up paying more than necessary.Amid the political drama surrounding the "fiscal cliff" negotiations, some investors overlooked significant ...
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The taxman is now playing doctor; How today’s tax returns will impact tomorrow’s medical bills
MarketWatchWhen they file their returns this year, some Americans will get a medical bill with their tax bill.Starting next January, the Affordable Care Act mandates that every American have health coverage, and those who remain uninsured will pay a ...
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7 top nations for dodging taxes á la Depardieu; Higher U.S. tax brackets may tempt some to follow the actor’s lead
MarketWatchFrench actor Gerard Depardieu’s decision to renounce his citizenship in order to avoid paying taxes might be tempting to those moving into ever high brackets. But experts warn that making such an exit is often a complex and costly process.
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Cracking the 2013 tax code; A guide to the changes wrought by the fiscal-cliff deal
MarketWatchEarly in the morning of January 1, Congress finally got around to dealing with the tax part of the fiscal cliff drama by passing what is inaccurately named the American Taxpayer Relief Act of 2012. Thanks to the demise of the so-called ...
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Hungarian Forint and Mexican Peso Weaken
WSJ.comSeveral emerging-market currencies slid Monday as investors once again turned cautious on U.S. fiscal cliff concerns, with the Hungarian forint leading the declines.
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‘Fiscal cliff’ doesn’t deter income seekers; Commentary: Money pours into dividend ETFs as higher taxes loom
MarketWatchNEW YORK (MarketWatch) — Taxes on dividends are bound to go up next year, at least for many people. Yet investors have been flocking to dividend-focused exchange-traded funds.
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Online tax help gets personal; Tax preparers offer more customer service, on the tablet and smartphone
MarketWatchThe big news in do-it-yourself tax preparation is help. Lots of it. The tax software companies have come to the conclusion that the only way to woo taxpayers away from tax professionals is to offer answers. Not just technical guidance on ...
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Surviving the dreaded IRS audit; Tips for dealing with an audit — as well as reducing penalties
MarketWatchIt’s that time of year again, when tax questions start pouring in. Among the most frequently asked: What’s the best way to deal with an IRS audit and reduce any penalties? Here are some strategies to help you get past those fears — and face ...
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By Ellen E. Schultz; Insurance Can Cut Your Taxes
WSJ.comBad investments have an upside: You often can use your losses to offset other gains. Unfortunately, you don't get the same tax break when you cash out a life-insurance policy at a loss.
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5 overlooked tax breaks for small businesses; Commentary: Congress extended and expanded several key deductions
MarketWatchLast month’s fiscal-cliff legislation included lots of tax provisions. Media attention has focused heavily on changes that affect individuals. But the new law also provides some valuable tax-saving breaks for businesses. Here’s the most ...
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Free e-filing for tax returns; How to find free tax-filing services, online and in-person
MarketWatchSeventy percent of American taxpayers — more than 100 million people — are eligible to file their tax returns for free, says Timothy D. Hugo, executive director of the Free File Alliance, a coalition between the IRS and a group of ...
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Fiscal cliff: The case for doing zilch
MarketWatchWith a number of potential tax changes at stake for investors in the “fiscal cliff” negotiations, financial adviser Andrew Millard is giving all of his clients the same advice: You’re better off doing zilch, zippo, nothing.
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7 little-known tax breaks for your 2012 return; These strategies could boost your refund — or reduce what you owe
MarketWatchIt’s already time to start thinking seriously about filing your Form 1040 for 2012, especially if you expect a refund. Here are seven little-known tax-saving goodies that could make your refund bigger or cut what you owe.
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Taking Advantage of IRA Charitable Rollover
WSJ.comFinancial advisers are making sure that older clients who like to give to charity take advantage of a popular tax strategy while they can.Under the American Taxpayer Relief Act, traditional IRA owners, those 70 1/2 years old and above, can ...
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Bad Math: Taxes Rise as Savings Fall
WSJ.comIt's time to rethink how much you're saving for retirement and how you're saving it.For one thing, the recent budget deal in Washington (aka the American Taxpayer Relief Act) didn't renew the so-called employee payroll-tax holiday. That ...
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IRA Donations Get a Break; New Rules Reinstate Tax Treatment for Gifts to Charity
WSJ.comBetter late than never.On New Year's Day, Congress renewed the highly popular but expired individual retirement account charitable-rollover provision for people at least 70½ years old. The extension is retroactive to Jan. 1, 2012, and will ...
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How to beat the new rules for health deductions; Making the most of recent tax changes requires advance planning
MarketWatchAmid the ever-increasing cost of health care, it’s essential to be constantly vigilant in looking for chances to claim tax breaks for medical expenses. Unfortunately, changes taking effect this year make that more difficult. Here’s the ...
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What to Look for in a Tax Preparer
WSJ.comAre you a glutton for punishment? To put it another way: Do you still prepare your own tax return?If so, you are in the minority. As our tax laws have grown increasingly complex, more taxpayers have hired someone to figure out the mysteries ...
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Paying your taxes: Cash or credit? A major downside to paying with plastic
MarketWatchWorried about how you’re going to pay your tax bill? It might be tempting to slap it on plastic.After all, you can charge your 2012 federal income taxes on a Visa, MasterCard, Discover Card or American Express. What if you want a filing ...
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Don't Let Tax Cheaters Target You
WSJ.comIn March of 2011, David Parker filed his 2010 income-tax return with a check for what he owed the Internal Revenue Service.Three months later, weeks after the check was cashed, the Seattle resident discovered during a mortgage refinancing ...
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