Understanding tax strategies and managing your tax bill should be part of any sound financial approach. Some taxes can be deferred, and others can be managed through tax-efficient investing. With careful and consistent preparation, you may be able to manage the impact of taxes on your financial efforts.
Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
Here are six flags that may make your tax return prime for an IRS audit.
When your child has income, there’s a good chance that he or she will need to report it and pay taxes.
As a business owner, you have many opportunities to generate tax deductions throughout the year.
When you take the time to learn more about how it works, you may be able to put the tax code to work for you.
Have income that isn’t subject to tax withholding? Or insufficient withholdings? You may have to pay estimated taxes.