Using a Donor-Advised Fund to Get a Tax Break

donor advised fundYou probably know that you can get a tax break when you donate to certain causes. You can even donate a stock or other asset to charity and get a tax deduction. However, it’s possible to go beyond just giving an asset and being done. The tax benefits associated with donor-advised funds are allowing them to increase in popularity.

Could You Be Taxed on Perks from Your Employer?

irs reviews employees perksEvery year, the IRS publishes a guidance plan, which takes a look at the items that the IRS plans to scrutinize in the coming months. On the list for the upcoming year is one of the perks offered by some employers: free lunch.

Is That Gift Really a Gift? The IRS Might Not Think So

gift taxes and IRSMy husband is a huge Yankees fan. We’d follow the baseball season obsessively no matter what, but this year has been “special” because Derek Jeter is finally calling it quits and retiring, at the age of 40, as the Captain of the team. We’ve had fun watching the commercials saluting him, and enjoyed watching different teams present him with personalized and sometimes-funny gifts.

Can You Deduct Student Loan Interest?

student loan deduction limitationsIn general, debt is often discouraged in our society. However, there are some types of debt that the government partially subsidizes as a way to encourage financial moves that are deemed beneficial to society. One of those types of debt is student loan debt.

Obama's 2015 Budget: Changes to Roth IRAs on the Way?

roth ira changes 2015This is the time of year that details of a new budget for the coming fiscal year are revealed. President Obama is making his 2015 budget proposal, and some of the potential changes could impact Roth IRA accounts.

Owe Taxes? Don't Avoid It Anymore

tax debt helpTax debt is so difficult because you know that you can't afford to pay your taxes, but you still owe money. In many cases, it seems easier to avoid the issue altogether. If you can't pay your tax bill, it seems pointless to address the issue.

Rising Income? Update Your Health Care Tax Credit Information

health care creditKeeping up with your taxes is a year-round proposition. This is especially true when you encounter situations that result in a change to your income over the course of a year. This year, the big surprise for some workers is related to the fact that, if your income has increased since you applied for subsidized health insurance under the PPACA, you might actually owe money back.

Property Tax Assessment vs. Home Appraisal

property-taxes-vs-assessmentI'm in the process of selling my house. We're under contract, but everything doesn't go through for a few weeks yet. If you've ever sold a house, you know that it can be a long process. As part of the process, you often need to have your home appraised.

Walking the Line with Sales Tax: How Much is Too Much?

sales taxes raisedOne of the ways that cities, counties, and states raise revenue is through sales tax. Sales tax is charged on items that consumers buy. In some areas, sales tax is only charged on non-food items, while other areas charge a lower tax on food items -- or exempt non-packaged foods from sales tax altogether.

States Hiking Road Taxes to Make Up for Congressional Inaction

state taxes rise to pay for infrastructureWhen it comes to taxes, we often think mainly in terms of federal taxes. However, most of us pay quite a bit when it comes to state taxes as well. And, indeed, many states collect various taxes in order to fund certain state-provided services.

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