Beware: There’s a new IRS imposter email tax scam
We're getting closer to the Oct. 15 filing deadline for those who got an extension back in April to fill out their returns. You can tell not only by the countdown clock ticking away on the ol' blog (shameless plug: it's in the narrow right-hand column), but also because tax…
How to get the $500 tax credit for other dependents
My mom is a fiercely independent octogenarian, but she still depends on me. Like today, when I'm taking her to have some dental surgery. She is not, however, a tax dependent. That means the hubby and I can't claim her on our tax returns in order to get the $500…
Better tax deduction apples for teachers proposed
Classes are back in session in many communities across the United States. And part of the supplies that are being used to help educate our youngsters were paid for by their teachers. Every year, studies by both private groups and federal agencies report that most public school teacher pay for…
7 common 401(k) FAQs
401(k) growth: As of March 31, total 401(k) plans held an estimated $5.7 trillion in assets and represented more than 19 percent of the $29.1 trillion in U.S. retirement assets, according to the Investment Company Institute (ICI). See Investment Company Institute, “The US Retirement Market, First Quarter 2019.” Sources: Investment Company Institute, Federal Reserve…
How tax pros (and everyone) can prepare for & protect against ransomware
Ransomware has evolved over the last three decades from a targeted cyber attack distributed on literal floppy discs to a major electronic security crisis for individuals, companies and governments. This type of malware typically locks out computer users and locks down their systems until the cyber hijackers are paid to return access to the information.…
10 things that will trigger a tax audit
It's official. House Democrats have formally requested copies of the last six years of Donald J. Trump's personal and business federal tax returns. Trump has steadfastly refused to make public his taxes, breaking a modern-day tradition set by presidential candidates — and in-office presidents (and vice presidents) — of letting the public…
3 popular retirement plans for the self-employed
f you're self-employed, your primary focus, especially in your entrepreneurial effort's early years, likely is to just make sure your business survives. But once you're on stable business footing, it's wise to look into tax-deferred retirement plan options for your small business. Not only are these retirement accounts a great…
5 cool tax moves to make this hot August
August is here, but few of us have put out the welcome mat. The eighth month of the year tends to be one of the hottest of the year. Most of the summer's fun events have come and gone. And school is about to start. OK, that last point is…
IRS’ new paycheck withholding estimator should reduce tax refund surprises in 2020
Paycheck withholding is most Americans' introduction to taxes. But even though millions of us have been seeing income taxes come out of our checks for years, the system still is confusing for many. It became a bigger mess this filing season, when folks filed their first tax returns under the…
4 tax law changes home buyers need to heed
It's been a summer of change for my neighborhood. Several of our neighbors have moved, including our next-door neighbors that I really liked. My former suburban Austinites are heading off to new jobs, other subdivisions they've discovered or to be closer to families across the state or country. A few…
