Employees Who Work for Tips – If you received $20 or more in tips during August, report them to your employer. You can use Form 4070. September 15 Employees Who Work for Tips – If you received $20 or more in tips during August, report them to your employer. You can use Form Individuals – […]
Compare August income and expenditures with your budget. Make adjustments as appropriate to your September expenditures. Make sure you have invested your planned savings amount for August.
Update your will and the will of your spouse, if you are married.
Discuss with your spouse your wishes concerning health care and funeral arrangements. This is not pleasant, but it is important that others know your preferences should you be incapacitated. Create a Living Will to document your decisions.
Newlyweds and the recently divorced should ensure the name on their tax return matches the name registered with the Social Security Administration. A mismatch could unexpectedly increase a tax bill or reduce the size of any refund. (more…)
If you gave any one person gifts in 2010 that were valued at more than $13,000, you must report the total gifts to the Internal Revenue Service. You may have to pay tax on the gifts. (more…)
If you changed your home or business address, notify the IRS to ensure that you receive any refunds or correspondence. Although the IRS uses the postal service’s change of address files to update taxpayer addresses, notifying the IRS directly is still a good idea. (more…)
Generally, you are taxed on income that is available to you regardless of whether it is actually in your possession. But there are some situations when certain types of income are partially taxed or not taxed at all. (more…)
The vast majority of Americans get a tax refund from the IRS each spring. But what if you’re not one of them? What if you owe money to the IRS? Here are eight tips for individuals who need to pay taxes. (more…)
Criminals use many methods to steal personal information from taxpayers. They can use your information to steal your identity and file a tax return in order to receive a refund. Here are ten things the IRS wants you to know about identity theft so you can avoid becoming the victim of a scam artist. (more…)