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Dollar Pops as Bulls Smell Tax Cut, Abe/Trump Meeting Next

Thanks to President Trump’s promise to announce “something phenomenal on taxes in the next 2 to 3 weeks,” the U.S. dollar along with U.S. stocks and bond yields soared.  For the past few days, forex traders have been waiting for a catalyst to take USD/JPY out of...
Posted On 10 Feb 2017

Mortgage Interest Tax Deductions May Get Extra Scrutiny This Year

In response to criticism that the IRS was not properly monitoring mortgage interest deductions Congress was asked to require lenders to report more information about the loans In 2015 Congress passed the new reporting rules and they went into effect for tax year 2016 Homeowners...
Posted On 10 Feb 2017

Nice-Try Tax Breaks Rejected by the IRS

Over the years taxpayers have concocted a lot of zany arguments to justify their tax breaks We ve come up with what we think are the 16 most creative ones that the courts decided did not quite work As secret agent Maxwell Smart would say Missed it by that much Over the Source
Posted On 09 Feb 2017

Dealing With Taxes As A Freelancer

As a freelancer, taxes can be a tough responsibility to handle . Between tracking your business finances, filing the right tax forms, and paying what you owe, taxes are a lot of work. But planning ahead and knowing your basic tax obligations is not too big of a challenge to wrap...
Posted On 08 Feb 2017

Lesser-known Ways to Lower Your Tax Bill

In the deadline for filing your 2016 taxes still more than 60 days away, ample time remains to research the moves that can pare down your bill or, better still, swell the size of your refund. Most filers know about the biggest and most-used deductions, such as those for  children...
Posted On 08 Feb 2017

Are your savings just going to taxes?

There s a quote from an old Morgan Stanley ad that gets passed around a lot at tax time You must pay taxes but there s no law that says you gotta leave a tip There s a quote from an old Morgan Stanley ad that gets passed around a lot at tax time You must pay taxes but there s no...
Posted On 08 Feb 2017

Deducting an IRA Contribution on Your Tax Return

TAKE OUR QUIZ How Much Do You Really Know About Roth IRAs TAKE OUR QUIZ How Much Do You Really Know About Roth IRAs ANSWER It s great that your son is maxing out his 401 k at age 23 Anyone who participates in a 401 k or other retirement plan at work can also contribute up to 5...
Posted On 07 Feb 2017

How to Hammer Down Your Taxable Income in 2017

With the start of the new year tax documents are beginning to trickle in Some of you may be surprised by the amount of capital gains realized in 2016 due to the sale of assets or through capital gains distributed by mutual funds With the start of the new year tax documents are...
Posted On 06 Feb 2017

Tax Breaks the Middle Class Can Claim

If you believe that tax breaks are for millionaires and companies with offshore subsidiaries you re probably paying too much to the IRS In recent years lawmakers have enacted dozens of tax incentives targeted at middle class families Taking full advantage of these tax breaks Source
Posted On 06 Feb 2017

Common Mistakes People Make When Filing Their Own Taxes

Tax season is upon us and with it comes the joy of a tax refund, if you’re lucky, or the dread of a high tax bill — or worse, a tax audit. To help you prepare to file, we asked financial experts to share their knowledge as part of GOBankingRates’ Best Money Expert...
Posted On 06 Feb 2017