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IRS Tax Problem Solver Blog – IRS Help

• Claim Tax Deductions from your Hobby (part 2) January 27, 2012
  Are you a hobbyist? In my previous article I shared some ways you can turn your hobby into a tax-deductible business. The four ways were: 1. Keep accurate records 2. Three in five profit ratio 3. Plan when you spend and get paid 4. Draw up a business plan Here are some other things you ought to do: More on Claim Tax Deductions from your Hobby (part 2) Claim […]
• Claim Tax Deductions from your Hobby (part 1) January 26, 2012
  Can you claim deductible expenses from your hobby? You can if you make your hobby become your business. If you are spending a substantial amount of money on your hobby, you might as well turn it into a business. Look at it this way – suppose you spend $20,000 a year in your hobby, then you can report that loss on a Schedule C and write if off against your sa […]
• Eight Tax Benefits of Children January 26, 2012
  Having children can help you to save on your taxes. The IRS has just revealed the ten tax benefits you can have when you have kids. 1. The most obvious tax benefit in having children is being able to claim dependency deductions. Most of the time, a child can be claimed as a dependent in the year they were born. For more information see IRS Publication 501, E […]
• How the IRS Chooses Who To Audit January 24, 2012
  An IRS audit is the thing most taxpayers are afraid of. But most of this fear comes from not knowing what an audit is all about, what it entails and most of all, what to do when you receive and audit notice. So if you know a few basic things about the whole matter, it takes a lot of fear out of it. Receiving an audit notice does not mean that you have commit […]
• What if You Face the IRS in Court January 23, 2012
  What if You Face the IRS in Court If you have to face the IRS in court, would you know how to defend your case? Preparation is the key, but preparation depends on what your case would be about. Another important factor is whether you have a lawyer represent you or you choose to represent yourself. Taxpayers who choose a lawyer to represent them in cases of d […]
• Make it Easy on Yourself Come Tax Season January 21, 2012
  Tax submission deadline this year is April 17 (courtesy of Emancipation Day holiday in DC). You should be receiving the usual W2s and 1099s in the mail pretty soon. The IRS has issued some guidelines for you to follow to make it easier on yourself when tax season kicks off in full swing. More on Make it Easy on Yourself Come Tax Season Make it Easy on Yourse […]
• Should IRS Budget be Cut? January 19, 2012
  In a recent report it has been revealed that IRS corporate auditors find an average of $9,354 in unpaid taxes owed by companies every hour they spent examining their tax returns. These are generally owed by the 14,000 or so of the largest companies in the United States in the 2009 fiscal year who pay about 86% of corporate income taxes. More on Should IRS Bu […]
• Tax Changes in 2012 January 18, 2012
  The new year has just begun and it is worth taking note of the various changes the IRS has in store for you. Being aware of these changes could help you avoid a hefty penalty or reduce your risk of being audited. More on Tax Changes in 2012 Tax Changes in 2012 is a post from: IRS Tax Problem Solver Blog - IRS Help Tax Changes in 2012 is a post from: IRS Tax […]
• Cost Saving Tax Tips for New Year (part 2) January 18, 2012
  In my previous article, I shared 4 tax tips that can save you money in the long run by either helping you pay less taxes or not paying more on your tax bill. Here are the tips I shared: More on Cost Saving Tax Tips for New Year (part 2) Cost Saving Tax Tips for New Year (part 2) is a post from: IRS Tax Problem Solver Blog - IRS Help Cost Saving Tax Tips for […]
• Cost Saving Tax Tips for New Year (part 1) January 16, 2012
  With every new year comes new goals and resolve. One of your new year’s goals must be to save money on your taxes. Here are some things you can do that can either cut your tax bill or help you save more money this year. More on Cost Saving Tax Tips for New Year (part 1) Cost Saving Tax Tips for New Year (part 1) is a post from: IRS Tax Problem Solver Blog - […]