Donating a car to charity requires almost as much research as buying one. These tips will ensure there’s a tax benefit for you and that you are donating to a legitimate group. Know what your car is worth. Your vehicle does not have the same value to a used car dealer and to a charity. Current … [Read more...] about 6 tips for donating your car to charity
By now you've probably either made an appointment to complete your income tax return, or you have filed for an extension beyond the April 15 deadline. Either way, if you itemize on your tax return, be sure that you're taking every deduction allowable by law to minimize your tax liability and keep … [Read more...] about Don’t miss out on work-related tax deductions
The year our daughter Jane was born, my husband and I almost forgot to claim her on our taxes. She was a newborn, our accountant hadn't seen us in a year — so she'd never seen me pregnant — and our tax appointments never involved chitchat, so the fact that we'd become parents wasn't part of the … [Read more...] about 9 tax deductions parents shouldn’t miss
Do you have or will soon have children heading off to college? If so, you may want to review information from the Internal Revenue Service (IRS) regarding college education expenses. For example, the IRS offers income tax deductions and education credits for college tuition and other education … [Read more...] about How to offset college costs with tax deductions and education credits
April 15 –tax day – isn’t all that far away, and a lot of taxpayers are not sure how the recent action (or inaction) by Congress affects this year’s tax return. Not to worry, says master tax advisor Mary VanDersarl, who has been doing taxes for H&R Blo9ck for 25 years. The 2012 tax code is … [Read more...] about 7 tax return tips from a tax pro
A health care flexible spending account (FSA) is an employer-sponsored benefit that allows you to save money for medical expenses for you and your family. The money is deducted from your paycheck before taxes, just as it is with your 401k. An FSA covers expenses that are not covered by your … [Read more...] about Is a health care flexible spending account for you?