Some angry e-mails have been circulating about real estate tax stating that all sales of real estate are subject to a 3.8 percent sales tax. The e-mails cite specific examples, saying that if you sell your home for $400,000, you will be subject to a $15,200 tax. Before you get mad, get the truth about [...]

Lots of social coupon sites have been popping up lately – and gaining popularity as a great way to save money. Usually, they work by getting people to sign up for local coupon alerts, and then they make money by offering consumers deals ahead of time for certain amounts. For example you may be able [...]

Estate tax is not only for rich people. Many unsuspecting taxpayers each year find out that their IRS debt is much higher than anticipated because they fall into the category of people who have to pay estate tax. Current tax laws include a $5 million federal estate tax exemption for individuals who die in 2011 [...]

A tax holiday for big corporations may mean that some of them come back to the United States with their money. Even if corporations are headquartered in the U.S., they are not necessarily holding all of their money here. In fact, they are probably not hold their money here because it is expensive. Unlike personal [...]

You may not have to organize all of those receipts you have filed in different places in your house. While many people think that claiming the easy standard deduction sticks you with a higher tax bill, many people miss the information about other “adjustments to income” the IRS has available for taxpayers filing Form 1040. [...]

No matter how much you think you would love to have Nicolas Cage’s paycheck, you don’t want to have the associated tax bill. Apparently, he didn’t either, and thought he could get away with simply not paying. Nicky has gotten himself into serious IRS tax problems which could harm him financially in more ways than [...]

taxpayers under 50 ($6000 for 50 and over). For those with a Keogh or SEP-IRA that have requested a standard filing extension to October 15th, contributions for 2010 can continue all the way up to that extension date. Tax Credits – Because tax credits lower a taxpayer’s actual taxes instead of his current tax bracket, [...]

The federal budget deficit has been getting a lot of attention from the American people lately – and raising a lot of concerns. Our record-breaking $1.65 trillion deficit since 2002 has left a lot of people wondering how in the world we will ever tackle the hugest number we have ever seen in that category. [...]

The IRS estimates that it will take the average taxpayer five hours to complete their income tax return. This number applies to filing the most common Form 1040. Many taxpayers’ duties will take a lot longer than that, especially including gathering materials and supporting documentation, finding the right form, and deciphering form instructions. Want to [...]

President Obama’s new budget will increase taxes by $819 billion, cut taxes by $2 trillion, and increase taxes by $1.6 trillion. Wait, what? The new tax bill either raises taxes or cuts them, depending on how you look at it. Do the math, and you can come up with both answers. At a basic level, [...]