See Updates Below Special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster, especially when the federal government declares their location to be a major disaster area. Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes. [...] Read more »
There is no such thing as an easy tax question
I get calls regularly from taxpayers across the country, because of my website and this blog. I have gone into gory detail on several different subjects, but it for some people it may not be enough. Sometimes people call me and expect me to resolve their complex tax issue over [...] Read more »
How to get every stinking tax deduction
So you wanna know the secret to getting every stinking tax deduction you are entitled to? Rule No. 1. Keep good records. It is as simple as that. Read more »
Using an FSA to pay for OTC drugs? Get a prescription
The key phrase here is "without a perscription." If a taxpayer wants to use one of these accounts to pay for OTC medicine, they must have their doctor prescribe it to them, then the taxpayer must present the prescription to the pharmacist, drugstore, mail order or web-based vendor. The pharmacist must assign the OTC drug a prescription number (Rx). Read more »
US Congress Will Punt-Legislative Update June 2011
Last year I spent a lot of time writing about how the US Congress had done nothing with respect to resolving tax issues. Why is it important for Congress to pass tax law? It is very hard to do tax planning before the end of the year, when you do not know [...] Read more »