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Five Home Office Deduction Mistakes

If you operate a business out of your home, you may be able to deduct a wide variety of expenses. These may include part of your rent or mortgage costs, insurance, utilities, repairs, maintenance, and cleaning costs related to the space you use. It is a tricky area of the… Read More

Avoid a Debt Settlement Tax Surprise

The number of Americans struggling with high debt is increasing, according to the U.S. Federal Reserve. U.S. household debt reached a new record this spring, the central bank said, with the average indebted household owing more than $16,000 on their credit cards. Seeking debt forgiveness from lenders is one option… Read More

Five Reasons to Incorporate Your Business

Most new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a “sole proprietor,” in which your business profits are taxed on your personal tax return. This can serve you well to start, but there are several reasons you may want… Read More

Home Buying in a Seller’s Market

It’s a tough time to buy a house. Nationwide U.S. house prices rose to their highest levels ever in November and have stayed elevated, according to the Case-Shiller Index tracking single-family home sales. Residential inventories also reached their lowest levels on record during the first three months of 2017, the… Read More

Keep Your Audit Fears in Check

Getting audited by the IRS is no fun. Fortunately, your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals some interesting, and reassuring, facts about the risk of an IRS audit. Audits are becoming less common. The number of… Read More

Donate Stock to Lower Your Tax Burden

With U.S. equity valuations near historically high levels, now may be an opportune time to take advantage of the tax benefits of donating long-term appreciated stock to a qualified charity. Directly donating a winning stock you’ve held for at least one year provides greater tax benefits than writing a check… Read More

Social Security Announces New Online Security

In 2012 my Social Security was launched to allow online access to your Social Security account. To date, over 30 million Americans have created an account. Effective June 10 there will be a second way to authenticate your identity and gain access to your online information using your e-mail account…. Read More

Do-It-Yourself Identity Theft Protection

Identity theft is a growing problem in the United States, and dozens of companies offering various forms of identity theft protection have sprung up to combat it. Unfortunately, these services often do little to actually protect people’s identities, according to a study released by the U.S. Government Accountability Office (GAO)…. Read More

Six Tips for Working Beyond Retirement Age

Two-thirds of the Baby Boomer generation are now working or plan to work beyond age 65, according to a recent Transamerica Institute study. Some report they need to work because their savings declined during the financial crisis, while others say they choose to work because of the greater sense of… Read More