Tax Tips for Deducting Gifts to Charity

The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. For instance, you must itemize your deductions. Here are six more tips that you should keep in mind:

Tips for Individuals Who Need to Reconstruct Records After a Disaster

Taxpayers who are victims of a disaster might need to reconstruct records to prove their loss. Doing this may be essential for tax purposes, getting federal assistance, or insurance reimbursement.

According to the Internal Revenue Service, there are 12 things taxpayers can do to help reconstruct their records after a disaster:

Tips for Teenage Taxpayers with Summer Jobs

Students and teenagers often get summer jobs to earn extra spending money or to save for later. The IRS offers a few tax tips for taxpayers with a summer job: Withholding and Estimated Tax. Students and teenage employees normally have taxes … Continued

8 Ways to Pay Your Tax Bill

If you owe federal tax, the IRS offers many easy ways to pay. Make sure you pay by the April 18 deadline, even if you get an extension of time to file your 2016 tax return. You can get an … Continued

10 Helpful Facts to Know about Capital Gains and Losses

When a person sells a capital asset, the sale normally results in a capital gain or loss. A capital asset includes inherited property or property someone owns for personal use or as an investment. Below are 10 facts, from the Internal Revenue Service, that taxpayers should know about capital gains and losses:

Dangerous W-2 Phishing Scam Evolving

The Internal Revenue Service, state tax agencies and the tax industry recently issued an urgent alert to all employers that the Form W-2 email phishing scam has evolved beyond the corporate world and is spreading to other sectors, including school … Continued