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5 Tax Myths Debunked

  Tim Maurer, Contributor, Forbes I write about the dynamic and vital intersection of money and life.       “Don’t let the tax tail wag the dog.”  In college, I heard that quote for the first time from the professor who made the greatest impact on me in those years, Dr. Daniel Singer.  He […]

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How not to be a responsible tax preparer

H&R Block Manager Charged in Identity Theft Scheme Los Angeles (April 20, 2012) By Michael Cohn, Accounting Today The manager of an H&R Block branch in Southern California has been charged with using the identities of his former tax preparation clients to file false tax returns with the Internal Revenue Service. Damon Charles Dubose, 38, […]

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Ian’s comment:   A couple of times this article mentions banks reporting reduced demand.  I’ve heard this comment often in the last couple of years.  I’m not sure who the banks are talking about?  Certainly not my clients – I submit that the demand is there, but the requirements are so stringent that many small […]

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Ten Tips for Taxpayers Making Charitable Donations  Did you make a donation to a charity this year? If so, you may be able to take a deduction for it on your 2010 tax return. Here are the top 10 things the IRS wants every taxpayer to know before deducting charitable donations. Charitable contributions must be […]

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Top 10 Oddball Tax Deductions

Top 10 Oddball Tax Deductions TurboTax has outlined some outlandish tax deductions to help you increase your tax refund. We’ve uncovered what we think are the weirdest deductions allowed, from pet food to free beer to (we’re not kidding) a girlfriend. …you can deduct your moving expenses — including the cost of moving your pet… […]

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IRS Burns Kirk Herbstreit’s Donation of Home to Fire Department It is increasingly common for wealthy people to buy an existing home in a desirable neighborhood and immediately tear it down and build a larger “McMansion” on the property.  But did you know that it may be possible to get a tax deduction for the value […]

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By Holden Lewis · Bankrate.com Wednesday, June 30 Posted: 11 am ET An extension of the homebuyer tax credit could be passed and signed into law today. It’s not a sure thing, because now the ball is in the court of a dysfunctional Senate. Yesterday, the House passed a three-month extension of the deadline to […]

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By Sandra Block, USA TODAY The IRS processed more than 230 million tax returns last year, paid 127 million refunds and received about 68 million phone calls. The agency is responsible for enforcing a tax code that, at 71,000 pages, makes Anna Karenina look like a comic book.Starting in 2014, the agency will have another […]

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The IRS wants parents to be aware of the tax rules that affect their children’s investment income. The following four facts will help parents determine whether their child’s investment income will be taxed at the parents’ rate or the child’s rate. 1. Investment Income Children with investment income may have part or all of this […]

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Let's Talk About Fees

How much do you charge for tax returns? This is the one of the most asked questions at the beginning of each tax season – and often one of the hardest to answer on an individual basis – the reason is that it all depends on time spent. Our answer is that we charge based […]

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