Another Option for Your Federal Tax Refund: Savings Bonds

If you are receiving a federal tax refund from the Internal Revenue Service, you can choose to use that money to purchase U.S. savings bonds. Here are the top six things you’ll need to know about using your federal refund to purchase savings bonds. You may use a portion of your refund to purchase up …

Read more

How to Obtain a Transcript of Your Past Tax Information

Taxpayers who need their past tax return information can obtain it from the IRS. Here are nine things to know if you need copies of your federal tax return information. There are two easy and convenient options for obtaining free copies of your federal tax return information — tax return transcripts and tax account transcripts. …

Read more

Ten Facts about Mortgage Debt Forgiveness

If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness. Normally, debt forgiveness results in taxable income. However, under …

Read more

“Show Me The Money”: A Look at Sources of Capital Available for Entrepreneurial Women

The Women of the Harvard Club of Boston and the Harvard Business School Women’s Association present “Show Me the Money”: A Look at Sources of Capital Available for Entrepreneurial Women Wednesday, February 8, 2012 Main Clubhouse: 374 Commonwealth Avenue 6 pm Cocktail Reception and Networking; 7 pm Panel Discussion; 8 pm Q&A Moderator: Amy Millman, President, Springboard …

Read more

Five Important Facts about Dependents and Exemptions

When you prepare to file your tax return, there are two things that will factor into your tax situation: dependents and exemptions. Here are five important facts the IRS wants you to know about dependents and exemptions before you file your 2009 tax return. If someone else claims you as a dependent, you may still …

Read more

Five Facts about the Home Office Deduction

With technology making it easier than ever for people to operate a business out of their house, many taxpayers may be able to take a home office deduction when filing their federal tax return. Here are five important things the IRS wants you to know about claiming the home office deduction. Generally, in order to …

Read more

Abusive Home-Based Business Tax Schemes

Introduction The IRS is providing information about abusive Home-Based Business schemes to help taxpayers avoid the pitfalls of these schemes: These schemes are abusive because they manipulate and misinterpret tax laws. The public should not be fooled by home-based business schemes that claim taxpayers can deduct most, or all, of their personal expenses as business …

Read more

Ten Tips for Taxpayers Making Charitable Donations

Every year, millions of taxpayers itemize their deductions on their federal tax return. One of the most common itemized deductions is a donation made to a charitable organization. Here are the top ten things the IRS wants every taxpayer to know before deducting charitable donations. Charitable contributions must be made to qualified organizations to be …

Read more

The IRS’ 20 Questions for Independent Contractors

Are you Really an Independent Contractor? Independent contractors who don’t know about — or who ignore — the relevant aspects of current contractor tax law are endangering their own livelihood and pose a significant threat to companies. The IRS is currently funding California’s Employment Development Department (EDD) to conduct twice as many independent contractor-related corporate …

Read more

Who is going to get audited by the IRS?

All taxpayers are potential subjects for an audit. The IRS supposedly uses a secret method to identify returns for audits. However, there are some situations that seem to “flag” an audit more than others. What others report to the IRS on your behalf. This is a very simple one. If someone is sending the IRS …

Read more