|
Buying or selling a home
| Capital gains | Deductions
and credits | Divorce | Home
office | Income | IRA
| Inheritance | Investments
| Miscellaneous | Status
| Tax planning
|
| Buying or
selling a home |
- Relax at your (interest deductible) vacation home. More
|
- Trying to anticipate what you'll owe the IRS when you sell your home?
Computing your cost basis is the first step in calculating gain or loss
from the sale of your personal residence. More
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- Did you buy a home? If so, you can fully deduct points paid on your
home mortgage loan. More
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| Capital
gains |
- Like-kind exchanges let you postpone paying taxes on a capital gain.
More
|
- If you're going to be a day trader, get ready to do a lot of paperwork
for the IRS. More
|
- The IRS draws a distinction between day traders and investors -- and
treats them very differently on tax day. More
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- Have you gained from the sale of an investment? Tax law regarding
capital gains is less onerous than it once was. But you must distinguish
between short-term and long-term capital gains. More
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- Were you confused about the mid-term capital gain category created
in 1997? It has been eliminated and you no longer have to hold property
for more than 18 months to be eligible for the lowest capital gains
rates. More
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| Deductions
and credits
|
- Tax deductions available for job-hunting high school graduates. More
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- Relax at your (interest deductible) vacation home. More
|
- How to reclaim an overpayment of Social Security taxes. More
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- Got a 1996 refund coming? You're running out of time to claim it.
More
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- A loophole lets students from high-income families claim middle-class
education tax breaks. More
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- Educational tax credits offer benefits and limitations. More
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- How the earned income tax credit helps the working poor. More
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- A surprising number of donors don't take advantage of the tax benefits
of charitable giving. Many Americans don't keep track of their giving,
and those who do often overlook little-known deductions. More
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- Did you lose property in a disaster? Those losses may be deductible.
Find out if your loss qualifies and check out the three hurdles taxpayers
must meet to qualify for taking this deduction. More
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- Don't overlook these business and professional fees that can be added
to your itemized deductions. More
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- To deduct medical expenses, you must itemize your deductions, and
your total medical expenses must exceed 7.5 percent of your adjusted
gross income. More
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- If you are working and contemplating a return to school, your work-related
education expenses may be deductible as business expenses. More
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- If you moved to a new home because you started a new job or changed
your job location, you may be able to deduct your moving expenses. More
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- Have you adopted a child? Use the adoption tax credit to decrease
your income tax liability. More
|
- If you are involved in charitable activities, you may not be aware
of the "hidden" deductions that are associated with charitable travel,
out-of-pocket expenses, life insurance and appreciated property. More
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- Recent changes in tax legislation have made the earned income tax
credit more accessible to many taxpayers. Find out if you qualify. More
|
- Don't sell your collectibles until you understand the impact on your
capital gains taxes. More
|
- Do you have a hobby? Losses from an activity that isn't conducted
for-profit, known as hobby losses, aren't deductible against other income.
More
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- Are your deductions and exemptions high? You may have to pay the alternative
minimum tax. More
|
- If you buy equipment for your small business, you will be required
to spread the cost of the item across more than one tax year. More
|
- Are you a divorced parent or is your spouse incapacitated? You may
qualify for the child and dependent care credit. More
|
- Are you claiming dependents? Be sure you understand the five tests
that a taxpayer must pass to claim someone as a dependent. More
|
| Divorce |
- "Innocent spouses" get protection from ex's tax liability.
More
|
- Are you a divorced parent or is your spouse incapacitated? You may
qualify for the child and dependent care credit. More
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- Are you recently divorced? Divorce will change your filing status
and may affect your eligibility for the child and dependent care credit.
More
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- If you divorce, you may be liable for a capital gains tax. More
|
| Home office
expenses |
- If you have a home office that qualifies, you might want to take advantage
of these three tax planning strategies. More
|
- Home office deductions just got easier. More
|
| Income |
- How to minimize taxes on income in respect of the decedent. More
|
- Planning can ensure that most of your estate does not go to the government
after you die. More
|
- How to reclaim an overpayment of Social Security taxes. More
|
- Got a 1996 refund coming? You're running out of time to claim it.
More
|
- How the earned income tax credit helps the working poor. More
|
- Children's income can complicate their parents' tax situation. More
|
- Kids making money have to file tax returns, too. More
|
- To estimate your tax payments, you'll need to compute your expected
adjusted gross income. More
|
- You can benefit in two ways by shifting income to family members in
lower income tax brackets. You can reduce both income tax liability
and your adjusted gross income. More
|
| Individual
Retirement Accounts |
- Planning can ensure that most of your estate does not go to the government
after you die. More
|
- IRA steps to take before having a baby. More
|
- How to deal with potential Roth IRA penalties if you earned too much.
More
|
- Find the best IRA for you. More
|
- How to fix an improper Roth IRA. More
|
- If you hold a traditional IRA, there are changes you may want to be
aware of. They relate to adjusted gross income limitations and participation
in employer-sponsored retirement plans. More
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- Considering a Roth IRA? Here are the basics. More
|
- You can convert from regular IRAs to Roth IRAs. Should you? More
|
- If you withdraw cash at the wrong time from an IRA, you will face
penalties. But there are exceptions. More
|
- You will need to designate beneficiaries for your IRAs. There are
repercussions if you don't choose your spouse. More
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- Use these guidelines when designating IRA beneficiaries to prevent
problems that may keep them from actually benefiting. More
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- Eventually, you are required to begin drawing on your IRAs. Here are
some of the rules. More
|
- The measure you use in computing life expectancy for your IRAs has
serious implications. More
|
| Inheritance |
- How to minimize taxes on income in respect of the decedent. More
|
- Planning can ensure that most of your estate does not go to the government
after you die. More
|
- If you inherit property, you will need to consider capital gains implications
when you sell it. More
|
| Investments |
- If you're going to be a day trader, get ready to do a lot of paperwork
for the IRS. More
|
- The IRS draws a distinction between day traders and investors --
and treats them very differently on tax day. More
|
- If you sell all of your shares in a mutual fund, the tax calculations
are straightforward. However, the majority of mutual fund sales are
partial sales, which require a little more math. More
|
- If you automatically reinvest capital gains and dividends on mutual
funds, you may encounter unexpected tax obligations. More
|
| Miscellaneous |
- Tax deductions available for job-hunting high school graduates. More
|
- How to prepare for an IRS audit. More
|
- Got a 1996 refund coming? You're running out of time to claim it.
More
|
- Can't pay the IRS? You may be able to make a deal. More
|
- What to do if you owe the IRS more than you can pay. More
|
- Understanding the 'nanny' tax. More
|
- The forms you need to file your return. More
|
- This is a rundown on 1998 tax law changes and the four major changes.
More
|
- A kinder, gentler IRS? Laws were enacted in 1998 to make the agency
more taxpayer friendly. More
|
- If you employ household workers, you need to understand how to differentiate
between household employees and self-employed household workers. More
|
- If your tax bill is higher than expected, you can seek a tax extension
from the IRS. More
|
- The IRS warns taxpayers of the latest scam. More
|
- If you have serious problems with the IRS, seek out an enrolled a
agent.
These are tax professionals licensed to represent taxpayers before the
IRS. More
|
- Soldiers called into a combat zone often can extend their tax deadlines.
More
|
- If you have omitted deductions or income on a return that has been
filed, you can correct the error by filing an "amended" return. More
|
| Status |
- There are five filing status options available to taxpayers. Be sure
you pick the right one. More
|
| Tax planning |
- How to minimize taxes on income in respect of the decedent. More
|
- Planning can ensure that most of your estate does not go to the government
after you die. More
|
- IRA steps to take before having a baby. More
|
- How to prepare for an IRS audit. More
|
- Can't pay the IRS? You may be able to make a deal. More
|
- What to do if you owe the IRS more than you can pay. More
|
- A loophole lets students from high-income families claim middle-class
education tax breaks. More
|
- Educational tax credits offer benefits and limitations. More
|
- Children's income can complicate their parents' tax situation. More
|
- Kids making money have to file tax returns, too. More
|
- The forms you need to file your return. More
|
- Find the best IRA for you. More
|
- To estimate your tax payments, you'll need to compute your expected
adjusted gross income. More
|
- Miscalculate your estimated taxes and you could end up paying a penalty.
More
|
- How to start and use an Education IRA. More
|
- Tax moves to make now to boost retirement income. More
|
- More moves to trim your April tax bill. More
|
- The clock is ticking on 1999, but here in the fourth quarter there's
still time for a few quick moves to save money on the taxes due next
April. More
|
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