Tag Archives: tax tips

Itemizing v.s. Standard Tax Deduction

Here are some tips from the IRS (irs.gov) talking about steps that you can take to deciding whether you want to itemize your deductions or just use the standard deductions. You want to end up using the deduction method that … Continue reading

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Tax Tip: Itemizing V.S. Standard Deduction

Here are some tips from the IRS (irs.gov) talking about steps that you can take to deciding whether you want to itemize your deductions or just use the standard deductions.  You want to end up using the deduction method that … Continue reading

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Beware of homestead tax-exemption scams!

If you have a principal residence in Texas, you are qualified for the homestead exemption.  One of the many benefits of the exemption is that it reduces the taxable value of a home.  Applying for the homestead exemption is easy … Continue reading

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10 Home Selling Tax Tips

  The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude … Continue reading

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Statute of limitations for tax records

One of the most common questions tax-payers ask themselves is when to toss out tax records.  The bare minimum should be three years but there are other factors to take into account when figuring out if you need to keep … Continue reading

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8 Tax Benefits to Parents

Here is are several tax benefits that help parents from the IRS website. 1. Dependents. In most cases, you can claim a child as a dependent even if your child was born anytime in 2012.   For more information, see IRS Publication 501, … Continue reading

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Ways to obtain IRS forms

The following are a set of tips from the IRS in tax preperation. The Internal Revenue Service provides free tax forms and publications on a wide variety of topics – from tax credits for individuals to a tax guide for … Continue reading

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Home-sellers tax tips, pt. 2

Yesterday we shared 5 tips about how home sellers can reduce their tax liability when selling their homes.   Most of them dealt with the qualifications home-owners needed to have in order to have their capital gains excluded.  Here are … Continue reading

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