


The IRS is NOT Always Right
Think twice about automatically paying the amount due on a notice Here are several quotes from actual IRS correspondence that serves as evidence that our national tax collection agency is not always right: Thank you for your correspondence. We currently do not have a...
Tax Court Corner – Three Cases, Three Great Tips
Here’s a roundup of several recent tax court cases and what they mean for you. Blogging for Taxes (Thomas v. Commissioner of IRS, 160 T.C. No. 4) The innocent spouse relief rule allows one spouse to avoid paying taxes caused by the other spouse due to their actions on...
Taxes: Knowing the Basics is Key
It’s the starting point to saving money Understanding how our tax system works can be tricky for anyone. Whether you’re an adult who never paid much attention to the taxes being withheld from your paycheck or a kid who just got his or her first job, the...
Your Home is a Bundle of Tax Benefits
There are many tax benefits built into home ownership. Here is a review of the most common. The home gain exclusion. When you sell an asset for a profit, it creates a taxable event. If the asset, though, is your primary residence, you can exclude up to $250,000...