Category Archives: Taxes

Individual Tax Rates

Life Insurance – Avoiding Taxes On The Proceeds

Life Insurance - Avoiding Taxes On The Proceeds, when you purchased your life insurance, you probably thought about things like how much coverage, you should have a!!d the cost. The subject of taxes may not have come up, or you may have simply assumed life insurance proceeds are not taxable. As with so many tax…
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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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