Taxable Income Archives - Page 9 of 19 - FREE Yourself from IRS Problems

Shamsey Oloko May 19, 2016 Income, IRA, Roth IRA, Taxable Income 0

Taking A Short-Term Loan From Your IRA

When strapped for cash, IRA owners have traditionally been able to take a short-term loan from their IRA, although this has been limited in recent years. Taxpayers may withdraw money from an IRA, without penalty or any tax liability, for…

Shamsey Oloko May 17, 2016 Deductions, Expenses Deductions, Income, Medical Expenses, Moving Expenses, Qualified Expenses, Schedule A, Standard Deductions, Taxable Income, Travel Expenses 0

Deduction Thresholds And Bunching Expenses

All of us as taxpayers continually think we have a lot of expenses that we can itemize and deduct to help reduce our respective tax bills. But they come, they go, all for naught and no effect. The problem usually…

Shamsey Oloko May 12, 2016 Audit, Business Expenses, Charitable Contributions, Civil Liabilities, Civil Penalties, Collection Activities, Criminal Liabilities, Deductions, Earned Income Tax Credit (EITC), Fraudulent Return, Home Office, Income Tax, Representation, Tax Evasion, Tax Fraud, Tax fraud & evasion, Taxable Income 0

Red Flags That Attract IRS Auditors

People typically think that the amount of their income is the biggest red flag that attracts an IRS auditor, and they would probably be right. But what are some of the other items on a tax return that may attract…