Will your itemized deductions for 2013 be right around the standard reduction amount? If so, you can bundle expenses for every other year and claim the standard deduction in the in between years. Over two years, this will significantly cut how much income you’re taxed on.
Did you know anyone paid for babysitting has to report that income to the IRS if they made over $600? Or let’s say you and a neighbor want to trade cars, you’ll still have to pay taxes on what the fair market value of the car you bartered. But not all income is taxable.
Living abroad for work can be a tricky tax situation. In many cases both countries want to tax your income that you’re making while working and living overseas. While many countries have different requirements, here’s what you need to know about the IRS’s requirements.
Looking for work costs money. Things like resume paper and printing, a new suit, and paying for premium online job search services can add up. This can be a little tough on job seekers who are likely unemployed. Sometimes these job seekers even have to take a class or two to be more marketable.
Starting a new business is exciting! At least until you get the paperwork part. It’s important that you first identify just what type of business you in regards to the IRS.
If you’re starting a new business here’s what you need to know about filing statuses for businesses:
The most affordable city to go to this summer is the one you live in.
If it’s a lean year or you have some financial goals you are working towards and looking to cut back on spending for a while, a staycation may be a great option.
