Taxes - Filing

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Getting a Tax Perspective by Finding Your Effective Tax Rate

Your AGI is your adjusted gross income — a number you need to know if you’re planning on pursuing deductions. The quickest way for you to determine your AGI is to refer back to your last tax return. You [more…]

Deciding whether to Itemize Your Tax Deductions

What can you safely deduct on your taxes? You’re entitled to the larger of the standard deduction or your itemized deduction. If you don’t own a home or aren’t making large charitable contributions, you [more…]

Figuring the Fair Market Value of Charitable Contributions

If you itemize your tax deductions, you can claim charitable contributions you make. Knowing how to claim charitable contributions can get a bit sticky, but don’t worry. The process is easier than you [more…]

Should You Itemize or Take the Standard Deduction?

The rule for itemizing deductions on your income tax return is simple: You should itemize your deductions if your total deductions are more than the standard deduction. For each dollar that exceeds the [more…]

The Top Five Canadian Tax Return Questions Answered

When should you file your Canadian tax return? How do you get missing tax forms from the Canada Revenue Agency? These are just a couple of the common questions that arise at tax time. This article gives [more…]

Day Trading Expenses You Can Deduct from Your Income Tax

Day traders have expenses. They buy computer equipment, subscribe to research services, pay trading commissions, and hire accountants to prepare their taxes. It adds up, and the tax code recognizes that [more…]

Day Trading Expenses You Cannot Deduct from Your Income Taxes

Day traders incur some expenses that can’t be deducted from income taxes. It’s disappointing, but at least if you know what day trading expenses they are upfront, you can plan accordingly. [more…]

Four Tax Deposit Tips for Quicken 2013 Users

Here are a handful of suggestions about making tax deposits with Quicken 2013 easier and less painful. The fast payroll method also has a weakness you should know about. [more…]

File Your Taxes with the Right Filing Status

If there is one thing to make sure you get right on your taxes, it’s your filing status. It can determine how much you pay (or save) in taxes. Plus, it’s one of the things that, if you get it wrong, will [more…]

Filing Taxes as a Freelancer

You’re free! Free to sleep in until 11 a.m., free to work while your adorable toddler plays at your feet, free to . . . keep really good records of all your expenses for your taxes. [more…]

How Paying Tuition Can Affect Your Tax Filings

Whether you’re a student paying your way through school, a parent paying for your kid’s education, or a spouse paying for your partner’s grad school, the IRS will help you defray some of that cost. [more…]

Should You Itemize When Preparing Your Tax Return?

Though everyone groans about having to pay taxes, the government is nice enough not to tax U.S. citizens on the full amount of their earnings.

There are two big buckets of deductions the government provides [more…]

Should I File My Own Tax Returns?

Tax time isn't a very happy time for many people. It isn't that we don't think taxes should be paid, and we certainly don't dislike a tax refund check. It's the paperwork. To borrow from satirist Dorothy [more…]

What to Do if You Can't Afford to Pay Your Taxes

If you owe money to the IRS for taxes this season, but you don’t have enough cash in your bank account to cut the check, all is not lost. First things first: Make sure to file your return. That way, you [more…]

How to Report Your Stock Investment Activity to the IRS

Most stock investors report their investment-related activities on their individual tax returns (Form 1040). The reports that you’ll likely receive from brokers and other investment sources include the [more…]

IRS Tax Deductions for Stock Investors

In the course of managing your portfolio of stocks and other investments, you’ll probably incur expenses that are tax-deductible. The tax laws allow you to write off certain investment-related expenses [more…]

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