If spring cleaning leaves you with items that you want to donate to charity, remember that donations of used clothing and household items must generally meet certain requirements to be tax-deductible. First, such items must be in "good used condition
Read moreDid you spend hours pulling together your tax records in preparation for filing your 2012 tax return? It doesn't have to be that time consuming. Avoid that problem next year by taking a few simple steps now.First, decide what records
Read moreHave you heard the term "Chained CPI"? Did you wonder what it meant?As our elected politicians in Washington attempt to tackle the same old problems, you are likely to hear more about a new way to measure inflation called "chained
Read moreGet ready. The Baby Boomer Generation, that huge demographic born between 1946 and 1964, is starting to retire....or at least thinking about it. Over the coming years millions of Boomers will reach age 62, which is the minimum age to
Read moreDoes having the IRS deposit your tax refund directly into one or more individual retirement accounts (IRAs) sound like a good idea? The IRS does encourage this option as a way to speeed up retirement contributions. It can make sense. For
Read moreWill you be among the thousands of taxpayers who get a big tax refund this year? While most Americans happily accept their tax refund checks, smart taxpayers understad that refunds actually cost them money.The government pays no interest on refunds.
Read moreThe IRS has made preventing identity theft a top priority this year.Here's what identity thieves have been up to. They steal a taxpayer's personal information and use it to file a bogus tax return claiming a refund under the taxpayer's
Read moreEver think about your chances of being audited by the Internal Revenue Service? It's no surprise that the nation's tax collector tends to go after the big money.According to figures recently released by the IRS, about 1.11% of all 2010
Read moreMost taxpayers believe that a "dependent" is a minor child that lives with them. While that is essentially correct, dependents can include parents, other relatives and nonrelatives, and even children who don't live with you. There is really much more
Read moreIf you are not clear on what the "saver's credit" is, you're not the only one. Members of the Senate Finance Committee believe there are many people who are eligible to claim the credit but unaware of its existence.Here's what
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