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Tag Archives: taxes

The Strangest U.S. State Taxes and Deductions

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The United States, despite its own quirks and complications, can seem fairly normal when compared to other countries. Take taxes — even when it comes to the most mundane of topics, our neighbors overseas can devise some truly bizarre charges and fines (take Sweden’s Stripper Tax). But what about here at home? It’s not just distant foreigners who are coming up with ... Read More »

    How to Protect Your Tax Refund From Being Stolen

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    According to the IRS, the average non-business taxpayer spends eight hours and $ 120 per year preparing his tax return. That’s a lot of time and money to invest in something you probably don’t want to do in the first place. Yet, there’s often a reward for your investment, as many taxpayers get some of their hard-earned money back with a tax ... Read More »

      How to Legally Cheat Your Tax Bracket

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      Lowering your tax bill is no easy feat. No matter how much you love Fluffy, your cat is not a dependent that can score you a deduction so you can reduce your taxable income, and thus your tax rate (There are, however, a few tax breaks for pet owners). And, you can’t deduct the cost of a gym membership, even if ... Read More »

        Get Free Help and Advice From Former IRS Agent

        I’m proud to announce that Jim Buttonow has agreed to assist readers with tax issues for free. Jim is a great guy and certainly a very knowledgeable tax expert. I have no reservations in recommending him as an expert to help site readers. Jim is a licensed CPA who spent 19 years with the IRS coordinating large compliance teams of ... Read More »

          My Children Landed Me in Debt. – Jane

          Ready to Collapse

          “Dear Steve, My husband and I have inherited many bills from our children over the last year. One son was in a car accident and was sued by the other party for damages to their vehicle. Since he was under 18 at the time, I had to pay $6000.00 that my husband’s insurance refused to pay, plus our attorney fees. ... Read More »

            Marriage and Money: How to Talk to Your New Spouse About Finances

            Ready to Collapse

            So you’re engaged. Or thinking about it. If you’re really serious about spending the rest of your life with another person, it’s time to get some of the tougher issues out in the open. Somewhere near the top of your list should be MONEY. Conflicts about money issues can stop a relationship before it has a chance to be successful. ... Read More »

              Substitute Teacher Lives in Shelter Instead of Paying Rent. – Tim

              Ready to Collapse

              “Dear Steve, My Brother-in-Law is deeply in debt. He was laid off from work 6 years ago and hasn’t found a decent job since. He isn’t very smart when it comes to money and lived off his savings until it was all gone. He is now 60 years old, has several thousands of dollars on credit debt, owes thousands in ... Read More »

                Should I Use My IRA and Tax Money to Pay Down Debt? – Tim

                Ready to Collapse

                “Dear Steve, My wife and I have accumulated considerable credit card debt ($70K)while she was out of work for 5 plus years while raising 4 children. I have approx. $120K in a SEP IRA. I am 47 years old and my wife and I combined make approx. $150K per year. I owe $190K on my mortgage, house is worth approx. ... Read More »

                  I Will Be Retiring Soon and Pay Off Mortgage With IRA Money. What Taxes Will I Owe? – Robert

                  Ready to Collapse

                  “Dear Steve, I will be retiring soon. Will pay off mortgage with IRA money. Balance of mortgage about 59K. I am 63. For the situation I am in paying off my mortgage will make complete sense. Thank you How do I figure what taxes will be owed and can I pay this tax with money from the IRA? I know ... Read More »

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