Many people consider completing their own tax return forms. And frankly, most people are capable of accomplishing the task. But the real issues are:
Even at that, it is worth being somewhat informed on tax issues. To help you toward that end, we have posted articles on selected topics that we anticipate could be valuable to you. The secondary menus above will provide access to information on that specific topic. Miscellaneous articles are listed below.
- Life is short; do you really want to spend your limited descretionary time studying and working on taxes? (There are hundreds of changes in the tax laws each year, and many of them are complex or interact with other provisions of the tax law in complicated ways.)
- Once they are done, do you rest confidently that they are correct?
- Did you really save money this year? Or could you have overlooked something that cost you more than the cost of a professional?
- If you think you really saved money, given the hours you spent on your taxes, how much per hour did you really "work" for?
If you cannot find the information you are looking for, you may submit a question and we will do our best to both respond and post your question with its answer.
Each of the summaries below are a link to an article. Click on the summary to select it.
- There are very steep penalties for failing to disclose interest in foreign bank accounts. This note refers to that for resident aliens. Nov 19, 2006
- Here are the mileage rates for 2007. Included are the rates medical, charity, as well as business use. Nov 3, 2006
- Thinking of loaning money to a family member? Or borrowing from a family member? That's OK, but there are some legal restrictions. Ignoring the rules can get you into trouble. Oct 14, 2006
- You may have heard that borrowing against your home is a great way to purchase that new car, boat, or other item, and have the interest tax deductible. Such may be true, but not always. Promoters of these loans often simply advise you to consult your tax advisor, but rarely do they give you the whole story.... Oct 1, 2006
- By splitting a gift that a married couple is giving, they can avoid any gift tax liability. But they still have reporting responsibilities. Oct 1, 2006
- When there is a death in the family it is difficult enough, but it also creates a number of tax issues that, fortunately, most of us do not deal with very often. Jun 2, 2005
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