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Good Intentions, Bad Tax Results

Good Intentions, Bad Tax Results, a recent Tax Court case* illustrates what can go wrong when taxpayers don’t have all the documentation required to support their deductions for charitable contributions. The case involves a couple who had made a series of cash donations totaling approximately $25,000 to a tax-exempt organization (their church). They claimed a…
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Make sure your Tax Payment are on Time

Make sure your Tax Payment are on Time, the IRS doesn’t wait until returns are filed to collect income taxes from taxpayers. Most people are required to pay tax during the year by making quarterly estimated tax payments to the IRS or having their employers withhold income taxes from their paychecks. It’s important to pay…
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A Different Way To Give Donor-Advised Funds

A Different Way To Give Donor-Advised Funds, are you looking for a different way to give to your favorite charities? If you are, you may want to consider a donor-' advised fund. Donor-advised funds are a popular option because they offer. several attractive benefits: relatively modest contribution guidelines, little to no set-up costs, few ongoing…
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Saving For Retirement When You’re Self-Employed

Saving For Retirement When You're Self-Employed, you're in good company if retirement security is one of your main financial concerns. A difficult economy, market volatility, and less access to traditional pensions have heightened awareness of the need for retirement planning. As a self-employed individual, you really have to think carefully about your future, since you…
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