Taxes and Destruction – The Casualty Loss Deduction

Taxes and Destruction - The Casualty Loss Deduction
While growing up in Redding, California, the disasters rolled around every year like our SimCity god was bored of our typical day to day living. If we didn’t suffer massive flooding and storm damage in the winter, then we could look forward to uncontrolled fires in the summer. Catastrophic events hit throughout the nation all the time, ...

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! ...

CreativelyAccounting.com is now BackAlleyTaxes.com!

CreativelyAccounting.com is now BackAlleyTaxes.com!
I had to be honest and admit that a relatively obscure tax website really should have the word “tax” in somewhere. So after several months of sulking like an emo kid convinced that it’s the world that’s wrong, I sucked it up and changed the domain to match the title of my book (hopefully book ...

What Part of $1 Billion in Refunds Do You Have With The IRS?

What Part of $1 Billion in Refunds Do You Have With The IRS?
Today, the IRS dropped a press release bomb stating they have $1 billion in refunds from 2011 stashed away in their sock drawer, just waiting for one of a million people to show up and claim it.  They estimate that half of the potential refunds are more than $698. Before I move on, can I comment on ...

The Worst Part About Multistate Taxes

The Worst Part About Multistate Taxes
Every time I have to deal with state taxes, I get frustrated with the Postal Code state sorting mess. That means “Maine” comes before “Maryland,” which comes before “Massachusetts” when it’s all spelled out, but it’s reversed if you sort “ME,” “MD,” and “MA.” With each department sending over data like our sort standards are the ...