People uncover their creative genius when tax time comes. For instance, a man made a fallout shelter for fear of a nuclear attack. He decided to deduct the costs as a “preventative medical expense.” Saying she needed a $5000 mink coat to visit customers, one woman tried to claim it as a business expense. The [...]

Tax time can be a confusing time for many, especially the non-accountants and non-tax lawyers. Which deduction should we make use of, the standard or the itemized deduction? What can you claim if you choose for itemized deductions? Here’s a look at what tax deductions are, some common ones you may be able to take, [...]

It is tempting not to pay taxes especially since there are millions of taxpayers. Surely, you would think you will not be noticed. You are dead wrong, however, as the IRS will know. It is then imperative to know what the consequences for not filing your taxes are,  what you have to do if you [...]

Tax laws are complicated and confusing, even for professionals. There are laws upon laws and rules and loopholes. There are different forms to accomplish and deductions to compute. If your tax needs have exceed your skill or patience to grasp them, you’re far from alone. The positive news is that qualified experts are ready to [...]

There are many valid reasons why taxpayers generally feel at least a little apprehension when talking about IRS penalties and paying back taxes. Fortunately, unknown to many, there are actual guidelines and procedures set in place that are designed to give regular taxpayers some recourse when dealing with an IRS penalty. Taxpayers do have the [...]