How to Make the Tax Code Work for You

How to Make the Tax Code Work for You

By April 19, 2019, 137million taxpayers had dutifully filed their federal income tax returns.1 And they all made decisions about deductions and credits – whether they realized it.When you take the time to learn more about how it works, you may be able to put the tax...
Tax Deductions You Won’t Believe

Tax Deductions You Won’t Believe

While Americans are entitled to take every legitimate deduction to manage their taxes, the Internal Revenue Service (IRS) places limits on your creativity. Here are some examples of deductions from the IRS that were permitted and some that were, well, too...
Donating Art: Taxation Abstraction

Donating Art: Taxation Abstraction

The varied reasons to donate art include a personal affinity for a museum, the desire to create a legacy, and the tax consideration that may come with the donation.The tax rules surrounding the tax deduction of art are complex and confusing.¹When donating art, donors...
Red Flags for Tax Auditors

Red Flags for Tax Auditors

No one wants to see an Internal Revenue Service (IRS) auditor show up at his or her door. The IRS can’t audit every American’s tax return, so it relies on guidelines to select the ones most deserving of its attention.Here are six flags that may make your tax return...
“Dirty Dozen” Tax Scams to Watch For

“Dirty Dozen” Tax Scams to Watch For

Every year the Internal Revenue Service (IRS) releases its list of tax scams, spotlighting the myriad ways that people try to separate you from your money.¹The “Dirty Dozen”Identity TheftUsing your personal information, an identity thief can file a fraudulent tax...
How to Appeal Your Property Taxes

How to Appeal Your Property Taxes

Between 30 percent and 60 percent of taxable property has an inflated assessment, which may lead to higher property tax bills. Moreover, typically fewer than 5 percent of taxpayers dispute their assessment.¹For homeowners who think their local government may have...

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