tax: Tax Strategies and Tips to Get Money for the Unemployed
- 09/28/12 02:36 AM
Many of you work regularly with real estate and have probably noticed a rollercoaster of highs and lows in the housing market. It seems that even though the U.S. is slowly crawling out of its economic slump, the recession may not be over just yet. While some people are trying to find the best deals on homes, others are facing other financial problems like unemployment. It is a big concern affecting many people as more companies lay off employers. Nevertheless, there are tax strategies to help these people out. In fact, unemployment is taxable in most states. If you or … (0 comments)
tax: File Your Taxes for Free
- 04/09/12 01:23 AM
On today's Equifax Finance Blog, tax expert Eva Rosenberg elaborates on a concept not usually approached by tax pros: should you pay a tax pro for your tax preparation or should you use a free service?
As you can imagine, the best reason to file your taxes for free is to save money. But will it end up costing you? Some software you believe is free end up charging you for certain services or you have to start over all over again on a different form. 3 ways to file your taxes for free: In-person filing. Online commercial software. … (2 comments)
tax: Does Your State Offer A Summer Sales Tax Holiday?
- 08/23/11 07:47 AM
No one likes sales tax, especially on big ticket items. When you're buying a car, computer, or major appliance, suddenly five or six percentage points add up to a big chunk of change.On today's Equifax personal finance blog (which has a brand new look!), tax expert Eva Rosenberg has some relief for shoppers making big ticket purchases: state sales tax holidays. She explains that 17 states offer breaks from sales tax, many of them during the month of August. Is your state one of them? If you've been holding off on making a major purchase, would a sales tax holiday convince … (3 comments)
tax: Last-Minute Tax-Filing Tips: 6 Mistakes to Avoid
- 04/13/11 04:16 AM
We're less than five days out from the official conclusion of tax season. Many people remain unaware that the deadline has been moved to April 18 this year, rather than the usual April 15. Equifax Personal Finance Blog tax expert Eva Rosenberg, aka "Tax Mama" shares some little known facts for last minute filers rounding the corner toward the deadline, such as: 1. Filing an extension is no longer the time consuming hassle it once was - Six-month extensions are now automatic. Eva tells those pressed for time to "simply take a deep breath, relax, and file Form 4868." 2. The … (2 comments)
tax: Homeowner Headaches: Itemized Deductions, AMT, and Other Tax Nightmares
- 03/30/11 08:24 AM
The deadline to file taxes this year is April 18th. If you own a home, the process of deciding whether or not to take the standard deduction or itemize your expenses can have you reaching for a bottle of Excedrin. Equifax Personal Finance Blog expert Eva Rosenberg offers a handy guide for answering the eternal question. There are a number of changes in the standard deduction rules, comparing 2010 with 2009. They fall under the following categories: Sales Tax Property Tax Disaster Law The list of potential itemized deductions can be daunting, but homeowners will want to pay particular attention to … (1 comments)
tax: Want to Help a Young Couple with a Down Payment? Find Out How Much You Can Give Before the IRS Intervenes.
- 03/23/11 04:20 AM
Can any good deed go unpunished (by the IRS)? Find out how to help loved ones with a mortgage down payment, college tuition and other expenses without paying more than you planned. Equifax Personal Finance Blog expert Eva Rosenberg explains what you can give, how often you can give it, and for how much, before being subjected to gift taxes. There are certain gifts with no limits, depending on your method of payment. These include: Education. As long as money is not paid directly to the student, there are ways to ensure tax-free contributions to a family member or friend's … (2 comments)
tax: Weird Taxes Affecting You Right Now
- 09/29/10 05:39 AM
As you probably learned in middle school history class, the formation of the United States of America was precipitated by just one tax too many from the British—the Stamp Act led to an infamous Tea Party and, ultimately, a revolting situation. Watch out! We may be on the verge of a new revolt. Take a look at some of these new taxes that might affect your bottom line:Tanning Tax: Hot Stuff!The cause? The new tanning tax! Courtesy of the Affordable Care Act, if you want to get a little artificial sun, you will now pay a 10 percent tax on indoor … (3 comments)
tax: Phantom Income, Sounds Spooky and It Is For Short Sales or Foreclosures
- 08/25/10 05:09 AM
Lately the words foreclosure and short sale (and even economy) are a lot spookier than the word phantom. Those things are scary enough, but having to pay more after you go through a foreclosure or short sale? Downright frightening. It happens more than you might think, and phantom income--or income from cancellation of indebtedness--can cost you big time. Keep an eye out for a 1099-C, Cancellation of Debt, or a 1099-A, Acquisition or Abandonment of Secured Property if you haven't already received one and have gone through foreclsoure or short sale. Tax Mama adnd Equifax personal finance blogger, Eva … (0 comments)
tax: Effortless Energy Tax Credits
- 08/09/10 06:54 AM
Tax Mama shares with us these tips for saving the earth and saving green on taxes: Yesterday, I heard Ed Asner in a commercial touting somebody's solar installations. That reminded me of my first trip to Israel, in 1977. Waaaaaayyy back then, in a country where the residents had fought to reclaim land from marshes and deserts, where trees were planted one by one to create an arable environment, people were using the power of the sun to heat their water. Practically every rooftop had this thing that looked like a trash barrel. These solar water heaters weren't the most attractive … (1 comments)
tax: Write Off your Child's Summer Camp
- 07/19/10 05:32 AM
Remember when you looked forward eagerly to summer? When you were finally released in June, you flew out those schoolhouse doors and didn't look back! You didn't realize how much your parents dreaded those months, with you at loose ends while they had to work. Now you're a parent. You have a job. While you wish you could spend all day with your child, someone has to make a living. What's your best alternative? Summer camp! Not only is it a great way to keep your child occupied, distracted, educated or entertained-but you just might be able to get a … (0 comments)
tax: Can't Pay Your Tax Bill? Here's How to Deal with the IRS
- 07/19/10 05:24 AM
Here's some advice from my fellow blogger TaxMama Eva Rosenberg of the Equifax Personal Finance Blog on what to do if you can't pay your tax bill: Someone recently wrote to TaxMama in despair and desperation — she couldn't pay her tax bill and her wages were being garnished. She had a long-term tax debt because she hadn't filed tax returns for two years, and the IRS made up a worst-case tax return. Her husband was disabled and living on Social Security. Doesn't this break your heart? She's not alone. These days, with jobs disappearing, along with homes, many … (1 comments)
tax: What Are Your Favorite Money Sites? Help Me Out
- 04/07/10 01:01 PM
Think Glink is working on a new project, can't disclose too much yet, but how would you like a site with expert-generated content on topics like insurance, taxes, financial planning, credit, real estate and money? But Active Rain already exists right? Part of the reason AR is so successful is that it provides a place for experts to share advice, but we can't be alone in the internet universe can we? This is where my Active Rain friends come in, we are looking for other communities and sites that talk about those topics the same way Active Rain talks about real … (17 comments)
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