TaxCure Blog

Every year, I take my documents to my accountant and have him prepare a tax return for my business and a joint tax return with my information and my husband’s information.

One of the reasons that many people make purchases online is the lack of sales tax. Technically, consumers are supposed to declare their online purchases (and purchases made out of state) on their state tax returns and then pay at the sales tax rate. This is known as the use tax.

The latest IRS Factbook is out, and among the interesting bits of information is that the IRS or Federal tax offer in compromise program grew in many ways from 2011 to 2012. Interesting is that not only did the number of requests for offers rise but so did the acceptance rate (see below, figure 1.2 below).

The IRS just released just released data providing information about all things tax collection. Included in the data they released is information about tax liens and tax levies. It looks as though fewer taxpayers were assessed liens and levies in 2012 than in 2011.

Most of us are used to the idea of paying taxes on earned income. After all, if you earn a wage, or if you have business income, it makes sense to pay income taxes on it.

One of the long-term financial planning tactics that many have adopted is rolling a Traditional IRA into a Roth IRA.

About four years ago, with the housing market reeling and homes in my neighborhood selling for $20,000 less than their owners had paid for them, my property tax assessment showed that my home had a more than $10,000 increase in value.

Many of us think of tax returns as complicated and difficult to fill out. While this is the case for some taxpayers, there are those that don’t have it so bad. If you qualify for the 1040-EZ, you can be done with your tax return relatively quickly – and even have it prepared and filed for free in some cases.

Recently, the IRS announced inflation adjustments for 2013. As prices rise, and as your buying power decreases, the IRS often adjusts certain items for inflation.