Category Archives: IRS Tips
Battling the IRS
There was once a song about battling the law and losing. Fortunately, battling the IRS is possible and sometimes inevitable. Battling the IRS There comes a time when many Americans must take action against the IRS. The IRS can come … Continue reading
Posted in IRS Tips, Uncategorized
Tagged federal income tax, IRS, tax planning, taxes
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“Flipping” Homes – A Reviving Trend in Real Estate
Prior to the recent economic downturn, flipping real estate was popular. With mortgage interest rates low and home prices at historical lows, flipping appears to be on the rise again. House flipping is, essentially, purchasing a house or property, improving … Continue reading
Posted in All Taxpayers, Have you ever asked, IRS Tips, Realtors, Selling house
Tagged flipping houses, Tax
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Tax Tips for the Well-traveled Businessperson
As you probably already know, food and lodging expenses can be deducted when you are away from home for business purposes. This may be particularly beneficial to self-employed individuals who travel extensively. Like everything in the tax law, there are … Continue reading
Keep the Child Care Credit in Mind for Summer
If you are a working parent or look for work this summer, you may need to pay for the care of your child or children. These expenses may qualify for a tax credit that can reduce your federal income taxes. … Continue reading
Posted in All Service Providers, All Taxpayers, IRS Tips
Tagged child care credit, summer
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Tax Facts about Summertime Child Care Expenses
Many parents who work or are looking for work must arrange for care of their children during the school vacation. If you are one of those, and your children requiring care are under 13 years of age, you may qualify … Continue reading
Posted in All Service Providers, All Taxpayers, Have you ever asked, IRS Tips
Tagged children, tax credit
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Tips for Taxpayers Who Missed the Tax Deadline
The IRS has some advice for taxpayers who missed the tax filing deadline. File as soon as possible. If you owe federal income tax, you should file and pay as soon as you can to minimize any penalty and interest … Continue reading
Are you confused on making Estimated Tax Payments. Here’s 6 tips!
Some taxpayers may need to make estimated tax payments during the year. The type of income you receive determines whether you must pay estimated taxes. Here are six tips from the IRS about making estimated tax payments. 1. If you do … Continue reading
Posted in All Service Providers, All Taxpayers, IRS Tips
Tagged estimated tax payments.
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Two Education Credits Help Pay Higher Education Costs
The American Opportunity Credit and the Lifetime Learning Credit may help you pay for the costs of higher education. If you pay tuition and fees for yourself, your spouse or your dependent you may qualify for these credits. Here are … Continue reading
Posted in All Service Providers, All Taxpayers, College Planning, IRS Tips
Tagged Education tax credit
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Murray Tax Services 