Will You Take the Home Office Tax Deduction for 2013?

by Miranda Marquit January 24, 2013

I actually take the home office tax deduction for my business. I’m in a good place, where the deduction helps reduce my income — without AMT worries. Additionally, since I don’t include home depreciation in my deduction, I don’t have to worry about what happens if I sell my home for a gain (not that […]

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Tax Season is Here: Are You Ready?

by Miranda Marquit January 18, 2013

With a new year underway, tax season has arrived. If you don’t want to be subject to the last-minute rush, you need to start preparing now for April. Here are a few things to take care of now: Update Your Personal Information Double-check the personal information you provide to others. If you are a freelancer, […]

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What To Do If You Can’t Pay Your Taxes

by Kevin Mulligan January 15, 2013

“but in this world nothing can be said to be certain, except death and taxes.”  Benjamin Franklin had it right. If there is anything just as inevitable as death in this world, it is that the government will want to tax you. Whether or not you agree with the taxes you pay or what the […]

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Fun and Terrifying Facts About the National Debt

by Kevin Mulligan October 15, 2012

The United States Federal Government National Debt sits just over $16 trillion. That’s $16,000,000,000,000. At current rates and assuming no changes, the debt will grow to $22.5 trillion by 2016. We thought it would be interesting to find some “fun” and truly terrifying facts about the national debt. A lot of numbers get thrown out […]

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Amazon, Internet Shopping, and Sales Tax

by Emily Guy Birken August 17, 2012

One of the few bipartisan efforts going through Congress right now is a bill called the Marketplace Fairness Act. This proposal would require online retailers to collect state sales tax for purchases—taxes that would then go into the state coffers. Even though the bill has bipartisan support, it is still controversial and by no means […]

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What is the Alternative Minimum Tax and How Does It Work?

by Miranda Marquit June 29, 2012

One of the most confusing things about our tax code is the Alternative Minimum Tax (AMT). As the name suggests, the AMT is alternative method of figuring your tax. In order to determine whether or not you are subject to paying the AMT, you are required to figure out your taxes twice: Once using the […]

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What Is Your Effective Tax Rate?

by Emily Guy Birken June 20, 2012

The tax code is one of those things that never seems completely clear. You may know that there are different tax brackets, but you’re not sure how that affects what you pay each April. Add in the talking heads (particularly during an election year) spouting off about the effective tax rate of various politicians, and […]

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