Tax Law

The IRS has a very specific code dealing with organizations that accept charitable donations. Find out how to form an organization that accepts charitable donations with help from a practiced attorney…

Burials are not the same thing as medical expenses. Find out about tax deductions for burials with help from an attorney in this free video clip.

You’ve inherited $50,000 in an IRA from your late father. “Wow, what an unexpected bonanza!” you say to yourself. “I’ll pay off my mortgage!” Not so fast.…

In 2010, the U.S. government extended its tax credit for homeowners who made qualifying energy efficient upgrades to their homes. This was, however, a tax credit and not a tax deduction. The…

While it is not the result of a direct tax, an implicit tax represents money lost to an individual due to certain government policies or financial realities. In one example, Michael F. Cannon, writing…

College can be an expensive investment; fortunately, the government allows you to deduct certain education expenses against your income for the purposes of taxation. Tuition fees and interest on…

Insurance claim expenses are divided primarily into two categories: allocated and unallocated claim expenses. An allocated claim expense is a financial loss that is related to a specific event that is…

If you're selling a home there are a couple of different things to consider. Find out if titling is tax deductible with help from a business consultant in this free video clip.

The Pennsylvania tax forgiveness program allows low-income individuals and families to claim a refund of all or part of their income taxes. According to the Pennsylvania Department of Revenue,…

The federal Child Tax Credit helps you reduce your income tax by up to $1,000 per child. Your child must be under the age of 17 to qualify, and be shown on your income tax statement as your dependent…

Truck drivers who pay for work-related expenses that their employer doesn't reimburse can claim these expenses as itemized deductions on their income tax return to reduce their tax obligation.…

In hard economic times, taxpayers who donate money to needy families should be commended for their generosity. But while your donations may make you feel good about helping those less fortunate, you…

Elderly people living on a fixed income often struggle to pay property taxes. However, seniors living in Arizona can apply for a number of state and country programs aimed at making this burden more…

The force between the power train and engine in a vehicle can cause wear and damage to gears, causing vehicle owners with damaged components to pay service costs to repair or replace these components.…

Federal employees are eligible for many kinds of retirement savings plans. One option available to both civilian and military workers is a thrift savings plan. It's not designed as a primary…

As of October 1, 2011, the Georgia state sales tax rate remained steady at 4 percent. Individual counties and the city of Atlanta add local tax rates of between 1 and 3 percent to this state rate to…

When spouses agree to a divorce settlement at the end of their marriage, the terms of the settlement will likely affect each party's tax filings. A settlement often establishes alimony, child support,…

Illinois imposes a straight tax on each individual, trust and estate with the same percentage owed by each entity. This percentage can then be lowered based on state tax credits and deductions. For…

Paying past tuition may lower your overall debt and help you maintain a clean credit rating, but the act doesn't itself secure any tax benefit. The IRS allows you to claim tuition tax deductions only…

Some businesses are more efficient when a family works together in it. It’s not out of the question to sometimes see kids working in their parents’ business or for an adult relative. All…

Inheriting valuable investments is certainly a welcomed event; however, if you don’t properly plan for paying taxes on these investments you may find yourself in quite the financial predicament.…

A preacher's wife is not entitled to any tax benefits merely for being married to a member of the clergy generating his own tax deductions. However, some preacher's wives are separately commissioned,…

Tax write-offs have a greater impact on your overall tax burden if they are considered tax credits rather than tax deductions. Tax deductible amounts, such as standard or itemized deductions, reduce…

Homeowners cannot deduct interim occupancy fees paid for living in a property before the final closing date arrives on the property’s purchase. The Internal Revenue Service considers these…

Saving money while preparing your tax return is often about knowing the tax deductions available to you and making sure to claim them. In many cases, it's tempting to use the short form income tax…

The mental-health industry uses wilderness therapy, which relies on the therapeutic effects of isolating patients in a natural environment for an extensive period of time, in an attempt to mitigate…

Taxes are inevitable, but the savvy individual searches high and low for as many IRS-approved deductions as possible. Among these are unreimbursed business expenses for employees. Business-related…

College is expensive and costs continue to rise. Saving money before you or your dependent begins school can make it easier to pay for school. Saving money that is allowed to grow tax-free can make…

Ministry schools serve educational and religious purposes – two characteristics that meet the criteria for becoming an IRS-qualified organization eligible to receive tax deductible donations.…

Young parents with children in kindergarten or who will soon have children in kindergarten might be thinking about how the transition to a public school will affect their taxes. There are many…

If you're concerned about how your property or assets will be distributed upon your death, you should consider drafting a last will and testament. Each state has different laws concerning who may…

A majority of states, including Tennessee, impose an income tax on residents in addition to the federal income taxes they pay on the same income. However, the tax deductions available in Tennessee for…

Winning at gambling is more than a windfall for you. Since your gambling winnings are taxable, they also provide extra gains for the Internal Revenue Service. In fact, if you win enough, your winnings…

Rural living has its benefits. There are clean, wide open skies, small town atmospheres where neighbors are more like family and the pace of life is a bit slower. And then there's the tax benefits.…

When you lose a loved one, you can face both emotional and financial hardship. Because of lost income, you may find it difficult to live on your own. Fortunately, the Internal Revenue Service offers a…

In the United States, most home sellers will not owe tax on the sale of their primary residences, due to tax exclusions and mortgage debt forgiveness relief, according to the State of California…

Before 1986, taxpayers could deduct interest on any debt, including credit cards used to pay for vacations. Despite tax reform in 1986 to eliminate the credit card interest deduction, married couples…

The Internal Revenue Service imposes an estate tax against the estate of some deceased people. The federal estate tax is commonly referred to as inheritance tax. In an irrevocable trust, the donor…

During tax season, taxpayers often wonder if there are ways to reduce tax debt or maximize refunds. Married taxpayers actually have two options for filing a tax return -- married filing separately or…

The state of Georgia has an income tax administered by the Georgia Department of Revenue. State law provides that the computation of taxable income shall follow applicable federal rules as set out by…

Cities, counties and states determine property taxes as well as sales taxes based on the tax boundary line. Your property line shown in the deed, or the deed parcel line, may extend beyond the…

IRS forms in the 1099 series belong to a category of tax filings known as informational returns. The IRS uses them primarily to cross-check the accuracy of tax information filed by businesses and…

If you purchased a vehicle in North Carolina before December 31, 2010, the sales tax you paid is a write-off on your taxes. Though technically you don't pay sales tax on a vehicle purchase in North…

According to the 2011-2012 APPA National Pet Owners Survey, 62 percent of American households own a pet. These pets also come with financial obligations due to food, veterinary visits and procedures,…

There are perks to being a teacher, including union membership, summers off work and the respect that comes with molding young minds. But shrinking budgets in public schools also can lead to certain…

The Internal Revenue Service (IRS) allows taxpayers to deduct qualified uncollectible loans as business or non-business bad debts pursuant to the Internal Revenue Code. Bad debts are uncollectible…

Property taxes you pay to a seller are at closing are generally not deductible for federal tax purposes. If you arerequired to pay the seller for real estate taxes at closing, the amount you pay to…

Homebuyers typically apply for a mortgage loan when purchasing a property. However, if a buyer has difficulty qualifying for financing, he may negotiate a contract for deed with the seller. There are…

Getting a bonus is exciting. Not only do you get the pride of having your hard work tangibly recognized by your employer, but you also get more money, which carries with it any number of exciting…

One of the major benefits of owning a home is that many of the associated expenses are tax-deductible. Home loans in particular are a terrific source of tax deductions; even if you refinance your…