pstrongA third of major retailers’ revenue comes from the last 2 months of the year. So obviously the Holiday season gets people to spend way more than usual./strong/ppLet’s face it, there’s lots of pressure to buy gifts for lots of people. It seems once the buying starts, there’s more and more people you think of that you should buy a gift for.
pstrongIf you sold your home this year for a profit, it may not be taxable income!/strong/ppIn most cases, if your home has been your primary residence 2 out of the 5 years you’ve owned it, you may not have to report it as income.
pstrongDeduct the money you put towards a Health Savings Account!/strong/ppContributions you make to a Health Savings Plan are deductible and the withdrawals you make from it are tax free when you use the money towards medical expenses./ppIf you are over 65, and you make a withdrawal to pay for something that is non-medical related, An HSA (Health
pstrongSure you’ve got an idea of what you’re gonna spend on Holiday gifts but what about all the costs that sneak up on you?/strong/ppHave you ever found yourself saying, “I only spent x amount of dollars on gifts; where did all of my money go?” If so, there lots of places throughout the Holidays you get “twenty-dollared to death.” Here’s a look a
pstrongGrandparents can help with college and lower taxable income./strong/p
pA grandparent helping their grandchild pay for college can be a win all around. When a grandparent that contributes to a 529 savings plan, it lowers assets within the grandparent’s estate. This helps lowering estate tax./p
pstrongTravel expenses for charity help lower your taxes./strong/p
pThe IRS allows you to deduct your expenses when traveling for a charity cause. However there are a few criteria that you need to meet to be able to qualify for the deduction./p
pstrongSo your friend was in a pinch and you thought they’d be good for it and they weren’t. It’s not all bad; you can lower your taxable income as a result./strong/p
pMaybe you loaned money to a friend to help with a struggling situation. But now it’s beginning to look like you are never getting paid back./p
pstrongMany businesses regularly overlook 3 common mistakes that wind up costing them dearly and obstructing their path to a successful venture./strong/p
pstrongHow does the government shutdown impact the IRS?/strong/p
pThe 16-day government shutdown came at a pivotal time for the IRS as they were prepping their complex systems for the 2014 tax season. Only 10% of IRS were open during the government shutdown. This put the IRS behind by almost 3 weeks./p
