Tag: IRS

Tax Questions, Answered: Your Kid’s Education

In our latest installation of this question-and-answer series with The Tax Institute, we look at some of common tax questions that come up around saving and paying for your child’s education. Q: Should the earnings on my child’s 529 account be counted as income as they accrue? What about when I use 529 funds to […]

What You Need to Know to Claim Home Office Deductions

Ed note: It turns out there are different kinds of home offices. There are those, like mine, that double as a place to binge-watch your favorite Netflix series, and those that are actually a tax deduction in the eyes of the IRS. Leer en español. One the greatest perks to running your own business is […]

Deducciones cuando tienes tu oficina en casa

Nota del editor: Existen diferentes tipos de oficinas cuando la tienes en casa. Están las que, como la mía, aparentarían ser un lugar donde ver cómodamente tus series favoritas de Netflix, y aquellas que realmente merecen una deducción de impuestos a los ojos del IRS. Uno de los beneficios más importantes de trabajar por cuenta […]

Records: What’s the Bare Minimum That You Must Keep?

Ed note: Tax season brings a flood of documents – W-2s, 1099s, receipts, Form 1040 and more. Now that you’ve filed – and maybe gotten a refund – are you ready to chuck them all out? Not quite so fast. One of our Tax Institute experts explains why you need to hang on to those […]

Tus archivos: ¿Cuál es el mínimo absoluto que debes conservar?

Nota del editor: La temporada de impuestos trae consigo una marea de documentos: W-2, 1099, recibos, Formulario 1040 y muchos más. Ahora que has presentado tu declaración, y quizás obtenido un reembolso, ¿estás listo para eliminarlos todos? No tan rápido. Uno de nuestros expertos de The Tax Institute explica por qué debes conservar esos documentos, […]

Win Big? Here’s the Bad News [INFOGRAPHIC]

It’s easy to watch Who Want to be a Millionaire – or another favorite game show – and marvel over the huge checks given to winners. It seems too easy to be true! Answer a few questions correctly, and you’ll walk away with thousands. Of course, it isn’t quite that clear cut. We break down […]

How to Proactively Address Your Tax Situation After Divorce

Ed note: There are some things that just aren’t fun to talk about. Period. There’s no dressing it up or injecting humor. Divorce is one of them. The thing is, we aren’t here just for fun. We also want to share important information that you can use. If you are going through a divorce, your […]

A Lannister Always Pays His Debts

Ed note: As a Game of Thrones fan, I just… I mean… oh boy. It’s a show that never disappoints, so we will try to follow that example. By now, you will have (hopefully) seen the season finale of this year’s Game of Thrones. If you have not, then I will issue the requisite Spoiler […]

Expats: What You May Need to File U.S. Taxes

Ed note: It may come as a surprise to some Americans living abroad that they still need to file a U.S. tax return. That’s right – even if you live in another country, work in another country and don’t have any money invested in U.S. accounts, you will still likely be required to file a […]

Reporting Foreign Bank and Financial Accounts 101

Ed note: Does a foreign financial account sound mysterious? Well, for many Americans taxpayers living abroad or those at home who have diversified financial holdings, it’s just a normal part of life. However, those accounts are in for big changes at home. Leer en español. What’s the big deal about declaring foreign bank and financial accounts? […]