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Tax Tip: Self-Employed Health Insurance
While the debate over health care and health insurance continues in the U.S., there is one thing we call agree on… health insurance is expensive. If you are paying for health insurance, any tax...
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Tax Tip: Mortgage Interest Deduction
If you have a mortgage on your personal residence, you’re probably well aware of the mortgage interest deduction, but like many tax provisions, a simple rule can be complex. There are many factors...
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Tax Tip: Deducting Sales Taxes
Sales taxes are generally not deductible, unless paid in connection with a qualified business expense. Even in a business context, sales taxes paid for the purchase of a capital asset must be added to...
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Tax Tip: Credits v. Deductions
Credits and deductions will reduce your tax liability, but credits provide a bigger bang for the buck. Tax credits provide a dollar-for-dollar reduction in your tax liability, whereas deductions...
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Tax Tip: Charitable Contributions
Americans are some of the most generous and charitable people in the world. According to a report by the Giving USA Foundation, Americans gave over $300 billion in 2008. Your primary motivation for...
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Do Rich People Pay Taxes?
What do you think… do rich people pay taxes? Here is a quick answer… Yes! You may not think that they pay enough, or their fair share, but let me assure you that rich people pay taxes. Having...
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The Buffett Rule
On Monday President Obama unveiled his deficit reduction plan. In addition to reducing the deficit, he outlined his ideas to pay for the American Jobs Act he proposed two weeks ago. No surprise his...
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Can credit card debt management help you to save dollars?
People in this part of the world are used to using credit cards rather than cash for their day-to-day expenses. The proportion of credit use is far more than their retirement savings. Credit cards have...
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Should I Refinance My Mortgage?
Mortgage interest rates are at historically low rates. Consequently, you may be wondering if it makes sense to refinance your mortgage. Although there may be a variety of reasons for refinancing your...
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Dealing with Debt Collectors
Tips and tricks to dispute the accuracy of the items of the credit report with the debt collecting agencies. You must be aware of the fact that your credit score may drop with erroneous entries on the...
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