IRS Warning of Phone Scam

The IRS has warned consumers about a sophisticated phone scam targeting taxpayers, including recent immigrants, throughout the country. Victims are told they owe money to the IRS and it must be paid promptly through a pre-loaded debit card or wire transfer. If the...

Deducting Un-reimbursed Professional Expenses

According to the IRS, to be deductible, an expenditure must be both ?ordinary? and ?necessary? in connection with your profession.? The IRS defines ?ordinary? as common and accepted in a particular profession and ?necessary? as helpful and appropriate for a particular...

Don’t Forget About IRAs

Even if you’re covered under a retirement plan at work, you and your spouse can each contribute up to $5,500 into a traditional IRA or Roth IRA for 2015 and 2016, as long as your combined wages and net self-employment income exceeds the total amount contributed....

Checklist to Cut Your 2015 Taxes

It’s not too late to cut your 2015 tax bill.? Prior to Dec. 31st: Increase your 401(k) and 403(b) contributions if you haven’t been contributing at the maximum rate all year. This year you can put away up to $18,000 ($20,000 if 50 or older) into your...