Tax Advice for Parents with Special Needs Kids

Did you know that 15-30 percent of families with a special needs child have one or more unclaimed tax benefits.

clipped from www.talkaboutcuringautism.org
Medical Expense Deductions
Many parents don’t realize that Learning Disabilities are considered a medical condition, as are other disabilities such as autism, cerebral palsy, ADHD, etc. [Rev. ruling 78-340, 1978-2 C.C. 124]
Medical expenses are limited [...]

Tax Tips for the Unemployed

As millions of people lost their jobs in 2008, one big question is how do I account for this when I file my tax return? Below is a list of answers to some top concerns:
Do I still have to pay tax if I was out of work in 2008?
Probably. The IRS requires anyone who [...]

Important Tax Changes for 2008

The IRS has released it’s ever helpful tax guide for the individual. Below are highlights of the tax changes for 2008:
Economic stimulus payment. Any economic stimulus payment you received is not taxable but reduces your recovery rebate credit.
Recovery rebate credit. If you did not receive the full economic stimulus payment, you may be able [...]

TaxBrain.com is Ready for Your Tax Return!

Good News! TaxBrain.com is available now to start your 2008 Tax Return!
Now in our ninth year, TaxBrain.com is updated with all the latest federal, state and local tax laws to make filing your taxes as quick and easy as possible. On January 16th the IRS will open its e-File doors. Be one of the first [...]

IRS Offers Tips for Year-End Donations

Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years.
One provision offers older owners of individual retirement arrangements (IRAs) a different way to give to charity. There are also rules designed to provide both taxpayers and the government greater certainty in determining [...]

2008 Year End Tax Tips

We have complied a few simple things you can do before the end of the year to keep your income taxes as low as possible.
Giving to Family and Friends
In 2008 the maximum amount of money you can gift to one person without paying taxes is $12,000. If you are married and have two children who [...]

IRS Releases Hurricane Grant Guidelines

The IRS released guidelines that help eligible homeowners who received federal reimbursement grants relating to Hurricane Katrina, Rita or Wilma. Specifically it outlines how recipients should amend their 2005 tax returns to avoid paying taxes on their grant money.

clipped from www.irs.gov
The notice explains how eligible taxpayers can amend prior-year returns to reduce the casualty [...]

Tax Relief in Disaster Situations

With Hurricane Gustav making land fall and more storms to come, the IRS is keeping a watchful eye on the damage and encouraging taxpayers in vulnerable areas to protect their financial records. To keep an eye on the developing tax relief options, visit www.IRS.gov.

For those whom were affected by Hurricanes Katrina, Rita and Wilma, [...]

IRS increases mileage rates starting July 1st

The IRS is increasing the mileage rate by 8 cents on July 1st to reflect the current cost of operating an automobile.

clipped from www.vvdailypress.com

IRS to increase standard mileage rates by 8 cents

WASHINGTON – The IRS has announced that there will be an increase to the standard mileage rates through the rest of this year.
“Rising gas [...]

Stimulus Rebate Check Confusion

Things you may need to know if you haven’t received your stimulus check or have received two.

clipped from finance.yahoo.com

Stimulating Confusion

As millions of taxpayers await checks, others find themselves with two
Even as millions of people are anxiously checking their mailboxes and bank accounts for their stimulus payments, others have received more than their fair share.
The IRS [...]