With college and private school tuition continuing to soar, you may be helping to pay your grandchildren’s tuition. The problem: You’ll typically have to use part of your $1 million lifetime gifttax exemption when monetary gifts to one person exceed the annual gift-tax exclusion.
Do reward points count towards taxable income?
“I’m from the government, and I’m here to help.” It may be the punch line to an old joke, but it can also be a valuable message that small business owners overlook.
Should you name the beneficiary on your IRA document?
How contest winners should report their windfalls.
You know that word-of-mouth advertising is the best way to spread the good news about your company. But many small businesses ignore some of the easiest ways to increase the level and intensity of that type of free advertising.
The IRS tinkers with Form 1040 every
year, and this year is no exception. In fact, your 2005 tax return
reflects new tax-law definitions and rules, annual inflation
adjustments to tax thresholds and various tax breaks for hurricane
relief, just to name a few changes. Here’s the skinny on the biggest
changes this year on a line-for-line basis.
What the tax law takes away with one hand, it often gives with the other.
If you’ve filed your return and you’re anxious about the arrival of your refund check, check the IRS Web site to spot your refund’s location in the big bureaucratic pipeline.