Filing Taxes
Filing taxes is an annual chore, and the tax code is complicated. Find tax forms and advice you need to file your tax return this year and pay the IRS.
Tax Basics
Latest Tax Filing Articles
-
Writing off travel expenses
You can deduct reasonable and ordinary travel expenses when away from home on a temporary work assignment, says CPA George Saenz.
2 min read Oct 22, 2019 -
Tax changes for the 2005 filing year
Check out these changes to the Income Tax Act that could save you money.
3 min read Apr 06, 2022 -
Tax on home proceeds in a divorce
You’re spared tax repercussions of home proceeds in a divorce, says CPA George Saenz.
1 min read Oct 22, 2019 -
Cooling a tax bill with energy credits
You can earn tax credits when replacing your air conditioning system as long as it meets the energy-efficient requirements, says CPA George Saenz.
2 min read Oct 22, 2019 -
Sorting out nanny tax rules
Principally the IRS is looking to collect Social Security and Medicare tax on wages paid to your household help, says CPA George Saenz.
2 min read Oct 22, 2019 -
Capital gains exclusion for foreign home
The rules apply to foreign homes even if you were not a resident of this country during the period of ownership and use, says CPA George Saenz.
1 min read Oct 22, 2019 -
Deducting rental property losses
Rental real estate losses are not allowed to married or single taxpayers whose AGI exceeds $150,000 a year, says CPA George Saenz.
1 min read Oct 22, 2019 -
Converting to a Roth IRA
The Roth conversion is an oddity, making people pay more tax now in exchange for a future promise that you will not have to pay tax, says CPA George Saenz.
1 min read Oct 22, 2019 -
Capital gains on sale of home with farm
If the avocados produce a profit, then the land is considered farmland and when sold would not qualify for capital gain exclusion from the sale of your home.
1 min read Apr 06, 2022 -
Student wants tax exemption on condo
Whether you can exclude capital gains on the sale of your jointly owned condo largely depends on if it served as your principal residence, says CPA George Saenz.
2 min read Oct 22, 2019 -
Overtaxed on rental property sale
You have three years from the date you filed the original return to claim a refund on your overpayment, says CPA George Saenz.
1 min read Apr 06, 2022 -
Trading the cube farm for self-employment
Congratulations on your new partnership with Uncle Sam, who will participate in your profits, says CPA George Saenz.
2 min read Oct 22, 2019 -
Partner’s insurance produces big tax bill
Company-provided benefits to an employee’s domestic partner are counted as the employee’s income. Our expert offers some ways to reduce the unexpected IRS bite.
1 min read Oct 22, 2019 -
10 tax troubles you can avoid
If the tax man starts questioning your return, don’t make matters worse by making one of these 10 costly blunders.
5 min read Apr 06, 2022 -
Overlooked deductions on old returns
A reader thinks he may have overlooked the mortgage points deduction. Our expert explains this tax break, along with how to get copies of old returns.
1 min read Apr 06, 2022 -
Deducting long-term care insurance premiums
Long-term care premiums are tax deductible two ways. Either as part of your itemized medical expenses or without itemizing if you are self-employed.
1 min read Oct 23, 2019 -
Home sweet homeownership tax breaks
There are lots of tax reasons to own a home. Here’s how to make the most of them and avoid the pitfalls.
7 min read Mar 03, 2022 -
Even in a roller-coaster stock market, investors find they owe capital gains
Mutual fund owners who watched their holdings stumble often are shocked at tax time to discover they still owe taxes.
6 min read Oct 22, 2019 -
Charitable gifts pay off for nonprofits and the donor
Donations can be valuable tax-cutting tools if you follow documentation rules.
2 min read Oct 22, 2019 -
7 tax-filing moves you can make now!
Be tax smart by getting a filing head start. Here are some tasks to take care of in January instead of April.
3 min read Dec 16, 2021