Best Day Of The Year: 2015 Excel Tax Returns Released

Best Day Of The Year: 2015 Excel Tax Returns Released
Thanksgiving is nice and all, and Christmas is great for the kids, but we know what the real best day of the year is: the day we can finally do our tax returns in Excel. I know, I know, it’s not quite perfection with the IRS not accepting the returns in that format (the Luddite swine ...

Cracking The Secrets to Rental Property Tax Deductions

Cracking The Secrets to Rental Property Tax Deductions
A few weeks ago, a friend of mine asked me to compare some of the tax and economic consequences of purchasing a house under various situations. It was a great idea. As I started writing, though, I realized that I should probably touch on the tax consequences of each scenario first before I tried to compare them all. Especially since one ...

The IRS Says My Business Is A Hobby. Now What?

The IRS Says My Business Is A Hobby. Now What?
Memorial Day weekend was a bust in our home, since my wife and I were sick the whole time. So now that the fun is over, I was having a hard time coming up with something interesting to write that didn’t require hours of research. Then I got a tax question. It did require research, but ...

Casualty Loss Deduction – Special Cases

Casualty Loss Deduction - Special Cases
In two previous posts I discussed theft loss and casualty loss, which combine together like Voltron for your Theft and Casualty Loss Deduction on a tax return. Since this is a complicated topic (what tax topic isn’t?), we still have a few more random items to discuss before we’re all the way through. Loss on ...

VIDEO: How to Prepare a 1040 – Part 2

VIDEO: How to Prepare a 1040 - Part 2
Here’s a continuation of my video series on how to prepare a 1040. Video 1 can be found here.

VIDEO: How to Prepare a 1040

VIDEO: How to Prepare a 1040
Here’s the next video in my series: how to prepare a 1040. This is a complex topic, so this is video 1 of 2. Part 2 can be found here.

Tax Loss – Handling Net Operating Loss for Small Businesses

Tax Loss - Handling Net Operating Loss for Small Businesses
As the old cliché goes, you’ve got to spend money to make money. Sometimes that means the small business you’re trying to get off the ground has losses for a year or two, including a tax loss on your tax return. Does that big red number on the bottom of your return do you any good, ...

Victim of Tax Fraud? What do you do next?

Victim of Tax Fraud? What do you do next?
Look, I get it. The guy was offering Celine Dion tickets in exchange for your Social Security number, so how could you refuse? I did something similar in college in exchange for a pita (which, thankfully, turned out to be a real promotion by Discover Card). If it’s not legit, though, don’t be surprised to ...

VIDEO: How to Prepare A Free 1040EZ Online

VIDEO: How to Prepare A Free 1040EZ Online
It’s Tax Season, and I’m sure there’s more than a few people scrambling to get their returns shoved in the mail at the last second like a buzzer beating half court shot. To help you along with the process, I decided to start doing online videos to work through a few tax topics. First up ...

iPhone Stolen? There’s a Deduction For That!

iPhone Stolen? There's a Deduction For That!
When I was really young, we moved from one self-proclaimed Promised Land to another (a.k.a. Texas to California). After taking a midway break at a cheap motel, I remember waking up, walking out to where the U-Haul had been parked the night before, and finding only an oil slick. It’d all been stolen. My Nintendo! Mario! ...