TaxCure Blog

Every 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.

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

This 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.

Having unpaid taxes s 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.

Keeping 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.

I’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.

A few years ago, one of the clients for my business was a company in Taiwan. My pay came from this Taiwanese company and was considered foreign income. I had to pay taxes in Taiwan, and since the income amounted to less than $97,600, I didn’t need to pay US taxes on the income as well. I even received a tax deduction for the tax already paid to the Taiwanese government.

Not too long ago, the Government Accountability Office released a report indicating that some big businesses are getting a pass from the IRS. According to the report, certain big partnerships have been audited at a very low rate.

As part of the “fun” that comes with packing up and moving across the country, my family and I are going to have to sell our house. One of the unfortunate realities of the situation is this: There is a chance that we will need to pay up to $10,000 out of our pockets to make this happen.
Between home values in my neighborhood (we bought near the top of the market), broker fees, and other closing costs, there is a chance that we won’t be able to get enough to pay off the mortgage and pay what else we’ll owe. It’s all sorts of good times here.

The last few weeks have been rather busy for me. Among other things (and there have been a lot of things), my husband landed a job on the other side of the country. So we’re packing up and moving out.