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The Hybrid Car Credit
The Energy Policy Act of 2005 replaced the clean-fuel burning deduction with a tax credit. A tax credit is subtracted directly from the total amount of federal tax owed, thus…
Changing Jobs? Don’t Forget Your 401(k)
One of the most important questions you face when changing job is what to do with your 401(k) money. Making the wrong move could cost you thousands of dollars or…
Be Careful When Making Loans to a Related Party
If you lend money to your closely held corporation or to a member of your family, be sure to handle the transaction with all of the formalities of an "arm's-length"…
New Changes To The Tax Law
The new tax law President Bush signed May 17, which we’ll call the “2006 Act,” continues certain major individual and business tax breaks previously scheduled to expire, grants some new…
How To Deduct Your Vacation
The IRS says you can deduct expenses for taking a business trip or business convention. And there's no reason the trip shouldn't coincide with your vacation.
…
How To Teach Your Kids To Hold Onto Money
What is the American Dream? One part is the hope of making a good life for yourself.
Another big part is this: To create a better life for your children.…
New Complex Production Deduction
If you're a small business owner here's one more reason to have a professional handle your business return. The American Jobs Creation Act of 2004 added the domestic production…
The Taxing Problem of Household Help
We can all use a little help sometimes. Perhaps you need someone to help clean out your house. Or, maybe, you’re getting a bit up in years and want someone…
College Savings Tax Strategies
Saving for college is hard not just because it's a huge expense, but because you can't predict how much, if any, financial aid you'll get.
…Smart Year-End Tax Maneuvers
Some financial maneuvering before year-end can save you considerable money. Here are a few year-end tax avoidance tactics: