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 […]

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 […]

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 to […]

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 […]

First Time Home Buyer Tax Credit The 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 Glance: The tax […]

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)

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.

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).