Taxes

Get a Bigger Tax Deduction for Donated Clothing
Taxes

Get a Bigger Tax Deduction for Donated Clothing

William R. Lewis, CPA, CFP | May 22, 2019

The clothing you no longer wear could be worth hundreds of dollars (or more) in tax deductions—much more than it would bring at a garage sale.

IRS Efforts to Thwart Scammers Can Delay Refunds

IRS Efforts to Thwart Scammers Can Delay Refunds

Steven J.J. Weisman, Esq. | May 6, 2019

A new IRS procedure to verify identities and thwart scammers can delay your refund and give scammers a new opening to scam you. Here’s how to win.

Choose Wise Asset “Location,” Not Just Asset Allocation
The Pay-Less-Tax Man

Choose Wise Asset “Location,” Not Just Asset Allocation

Edward Mendlowitz, CPA, ABV, PFS | April 29, 2019

Here are some ways to save taxes by shifting around some of your investments among taxable and tax-advantaged accounts.

Don’t Let the New Kiddie Tax Hurt You
Tax Planning

Don’t Let the New Kiddie Tax Hurt You

April 8, 2019

Before you put investments in a child’s name, run these numbers

Some Home Owners Could Legally Defer Their Property Taxes—Are You One?
Tax Planning

Some Home Owners Could Legally Defer Their Property Taxes—Are You One?

Abigail Walters | April 8, 2019

Two dozen states let some seniors delay paying their property tax until they sell their homes or die—a potentially huge savings.

Dealing With Tax Return Filing Extensions, Delinquent Returns and Amended Returns
The Pay-Less-Tax Man

Dealing With Tax Return Filing Extensions, Delinquent Returns and Amended Returns

Edward Mendlowitz, CPA, ABV, PFS | April 1, 2019

Here are issues to be aware of when filing a tax return past the due date or amending a return.

Stock Funds That Slash Taxes
Cutting Taxes

Stock Funds That Slash Taxes

Mark Wilson, CFP | March 14, 2019

Stocks have had huge run-ups during the bull market that began in 2009. These funds protect you from a growing tax bite.

Avoid These Red Flags That Can Cause Audits
The Pay-Less-Tax Man

Avoid These Red Flags That Can Cause Audits

Edward Mendlowitz, CPA, ABV, PFS | March 4, 2019

There are various ways to deal with red flags to avoid an IRA audit. Here are 15 key ways.

How to Keep Your Tax-Prep Fees Low—From a Tax Preparer
The Pay-Less-Tax Man

How to Keep Your Tax-Prep Fees Low—From a Tax Preparer

Edward Mendlowitz, CPA, ABV, PFS | February 4, 2019

What you do during tax season and all year—and even what kinds of investments you choose—can optimize your time and reduce your tax-prep costs.

Here Are the 2019 Contribution Limits and Other Tax Numbers You Need to Know This Year
The Pay-Less-Tax Man

Here Are the 2019 Contribution Limits and Other Tax Numbers You Need to Know This Year

Edward Mendlowitz, CPA, ABV, PFS | January 7, 2019

Here are the 2019 numbers for retirement account contributions, Social Security tax, gift tax, mileage deductions, capital gains tax and other key IRS rules.

Here Are the Tax and Other Financial Records You Should Keep Forever—and Those You Should Toss
The Pay-Less-Tax Man

Here Are the Tax and Other Financial Records You Should Keep Forever—and Those You Should Toss

Edward Mendlowitz, CPA, ABV, PFS | December 10, 2018

Here’s how long you need to keep different kinds of financial records ranging from tax documents to investment records, insurance policies and others.

End-of-Year Moves to Cut Your 2018 Taxes
The Pay-Less-Tax Man

End-of-Year Moves to Cut Your 2018 Taxes

Edward Mendlowitz, CPA, ABV, PFS | November 12, 2018

To minimize your 2018 tax liability, check out these end-of-year tax-saving moves right now, before 2018 ends.

Pay 0% Cap-Gains Tax
Cutting Taxes

Pay 0% Cap-Gains Tax

Jean ­Fullerton, CFP | November 6, 2018

Because of a higher standard deduction in the new federal tax law, it is easier for many Americans to pay no long-term capital gains tax at all.

If You Invest in Real Estate, Check this Checklist To Save on Taxes
The Pay-Less-Tax Man

If You Invest in Real Estate, Check this Checklist To Save on Taxes

Edward Mendlowitz, CPA, ABV, PFS | October 15, 2018

There are many potential tax benefits to owning real estate as an investment—but to get them, you need run through this important tax-saving checklist.

If You Owe Back Taxes, Here’s What to Do
The Pay-Less-Tax Man

If You Owe Back Taxes, Here’s What to Do

Edward Mendlowitz, CPA, ABV, PFS | September 17, 2018

Uncle Sam is mighty, but you have more control over your fate than you might think—if you know what steps to take.