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If you are a trucker, your per diem (for each day) method can save taxes. The per diem is the amount you can claim for meal deductions while you are away from home for the night. The per diem is only applicable for overnight trips. You can’t leave home, work an 18-hour day, and then [...]
The number one money saving tip: Re-Examine Your Filing Status Regardless if you file as single, jointly, head of household, married but filing separately – Your status can be a major money saving tip in the size of your tax return. […]
Did your parents get paid more than they should have via Social Security? Even if the government THINKS they did, they can now seize YOUR IRS tax refund check to pay back the overage. That’s right, if the government thinks your parents were overpaid, IRS seizures are targeting the tax refunds of the children of [...]
The Internal Revenue Service today reminded truckers and other owners of heavy highway vehicles that in most cases, their next federal highway use tax return is due on Aug. 31, 2012. […]
First passed by Congress in 1997, child tax credits were intended to benefit children and to help keep them from falling into poverty. The eligibility to claim the credit is tied to the child and not to the parent. The child being claimed must be under the age of 17, a legal dependent of the [...]
If anyone knew how the IRS determined which individual tax returns for audit, we’d do everything we could to stay under the radar and not be selected for further review. The IRS audits less than one percent of all tax returns, which is good news, but there’s no way to guarantee you’ll be among the [...]
The first rule of paying off tax debt is to make sure you file your return on time, even if you can’t pay it your taxes immediately. Doing so, you’ll avoid the IRS’ “failure-to-file penalty” of 5 percent per month (to a maximum 25 percent) of your balance due. You’ll still face that penalty each [...]
Looking for a list of tax deductions? Here is a Baker’s Dozen of frequently overlooked types of tax deductions for you to use when you file Job-Hunting Expenses – Keep close track of your job-search expenses, mileage, tolls, parking – and anything else related to your job search. If you’re looking for a position in [...]
If you file your own taxes, you know that the IRS uses your Social Security number as your Tax ID. But if you use a professional tax preparation service, make sure your tax data and financials include your Social Security number, as well as your spouse’s if you file a joint form. […]
There’s a sophisticated telephone tax scams currently being perpetrated, which tries to trick and intimidate people into paying bogus tax bills. Tax Help MD recently saved Debbie and Bob Wiley of New Hampshire a substantial amount, while helping them avoid the scam. Tax Help MD also reported the scammers to the New Hampshire Attorney General’s [...]
