August 29, 2010
- Real Estate Taxes Are Rising
The property tax burden for residential property owners has not kept up with the present slide and erosion of market values. Everyday commercial businesses are failing and have little or no assets that make up the tangible personal property taxes and real property tax base. State and local tax collectors have lost revenue due to [...]
April 5, 2010
- Your Income Tax Audit Odds
Your Income Tax Audit Odds
What are the odds that you will be audited by the IRS this yea? Stacy Johnson answers that question in this report:Have questions or comments? We'd love to hear from you. Just click the "comment" link below. Don't worry, your email address, although required to comment, will never appear on this [...]
March 28, 2010
- Tax Tips for Homeowners
Tax Tips for Homeowners
Attention homeowners! Over a million Americans overpay their taxes by an estimated $945 million every year. Here are the top tax deductions, in no particular order, that you need to know about:Mortgage Interest. This is usually fully tax-deductible, and applies to multiple mortgages as long as it doesn’t exceed $1 million.
Home [...]
March 20, 2010
- Homeowners: More Than Interest to Consider at Tax Time
Homeowners: More Than Interest to Consider at Tax Time
Interest rates gain the most attention from mortgage borrowers, but two other expenses, points and mortgage insurance premiums, are significant, as well. And both may come into play as you fill out your tax returns this year.
When you shop for a mortgage loan — which is something [...]
March 17, 2010
- How to Claim the New Home Tax Credit
How to Claim the New Home Tax Credit
If you benefited from the U.S. Homebuyers Tax Credit in 2009, and now want to apply it to your tax forms prior to April 15, here’s a handy step-by-step guide in doing so — easily and accurately.
The primary takeaway from homebuyers who qualify for the tax credit is [...]
March 7, 2010
- Taxes: Most Common Mistakes
Taxes: Most Common Mistakes
With tax time here again, here are some of the most common mistakes people make while doing their taxes. Avoid these to save yourself money, and a possible audit.Questions or comments? Use the comment link below to sound off. Your email address will never appear on this site along with your comments, [...]
February 21, 2010
- Tax Guidance for Repeat Home Buyers
Tax Guidance for Repeat Home Buyers
If you've been holding off getting involved with the new $6,500 federal tax credit for repeat home buyers, there's no more excuse for inaction. You now have all the official IRS guidance you'll need to buy a house, qualify for the credit and pocket the $6,500.
That's because the Internal Revenue [...]
February 20, 2010
- Taxes 2010: Do It Yourself, or Hire a Pro?
Taxes 2010: Do It Yourself, or Hire a Pro?
Is hiring a tax professional any better than doing your taxes yourself?Any questions or comments about this video? Post your comment below. Your email address, although needed in order to post, will NEVER appear on this site or shared with any third party interest. We'd love to [...]
February 6, 2010
- Homebuyer Tax Credit Means No e-file
Homebuyer Tax Credit Means No e-file
Buyers who purchased a home after November 6th were unable to claim their tax refund for first time homebuyers because the Internal Revenue Service had yet to release a new form and instructions for doing so. However, the new form is available from the IRS website now, and you can [...]
December 19, 2009
- The Extended Tax Credit: What it Means
The Extended Tax Credit: What it Means
Everyone knows by now that Congress and the President passed an extension to the first time home buyer tax credits that were due to expire at the end of November. Now the questions are rolling in as to how to best take advantage of the new credits.
The measure continues [...]
November 23, 2009
- Taxes: Stimulus Payout Could Come Back to Haunt You
Taxes: Stimulus Payout Could Come Back to Haunt You
That little extra bit of money in the form of a larger paycheck tied to the Obama administration's stimulus plan could end up taking a bite out of your federal income tax refund or even leave you owing taxes, some observers say.
The stimulus plan lowered federal income [...]
October 26, 2009
- Tax Credit Fraud Eyed by the IRS
Tax Credit Fraud Eyed by the IRS
The U.S. Internal Revenue Service is probing more than 100,000 doubtful claims of a tax credit meant for first-time home buyers.
The $8,000 tax credit for first-time home buyers under the American Recovery and Reinvestment Act was passed in February to help nudge the U.S. economy back [...]
October 9, 2009
- Homestead Exemption Explained
Homestead Exemption Explained
We had a reader write to us and ask, "My spouse recently passed away, will I have to sell my home to meet creditor obligations?"
There are laws that can protect, to a certain extent, the value of a home from property taxes and creditors following a homeowner's death. A homestead exemption is a [...]
August 3, 2009
- First Time Home Buyer Tax Credit
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First Time Home Buyer Tax CreditThe American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.
Here is the $8,000 Home Buyer Tax Credit at a [...]
July 23, 2009
- Estate Taxes: Who Must Pay?
Estate Taxes: Who Must Pay?
As attention turns from Michael Jackson's death to the complex estate he left behind, experts are sorting through his holdings and putting price tags on their value _ with an eye on the tax bill they will generate. (Video runs 1:05)
April 23, 2009
- Tax Audit Odds
Tax Audit Odds
Now that tax season is over (for most people), does that mean you can rest easy until next year? What are your chances of being audited? Stacy Johnson explains… (Video runs 1:36)…Questions or comments? We'd love to hear from you. Remember, your email address will never be published on our site.
March 29, 2009
- Taxes: What's Changed for 2009?
Taxes: What's Changed for 2009?
Started your taxes yet? Well, when you do, you're going to find some changes to the tax laws that will probably mean a lower tax bill.Have more questions about what's changed for 2008 / 2009? Just use the comment link below and we'll try to get the answer for you.
March 20, 2009
- 7 Most Common Tax Mistakes
7 Most Common Tax Mistakes
Mistakes while doing your taxes can end up costing you big time. Avoid the most common tax mistakes as covered in this video. (Running time 1:24)If you have questions or comments, please post them below the Social Bookmark links below (under Tell Others About This Article).
March 7, 2009
- Who Has to File Taxes?
Who Has to File Taxes?
This time of year, taxes are on just about everyone's mind. However, not everyone has to file a tax return. Money Editor Stacy Johnson covers some of those reasons why you might not be required to file an income tax return. (Video runs 1:24)…
March 3, 2009
- Second Chance for a Stimulus Credit
Second Chance for a Stimulus Credit
It's not often the government gives you a second chance at some extra cash if you miss out the first time.
But that's the case with the Recovery Rebate Credit, part of the economic stimulus package that was passed by Congress in 2008.
Taxpayers got a maximum $600 each — $1,200 if [...]
