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Sales Tax Guides

Deducting Sales Tax

The Short Story:

Confused about whether to take the standard deduction or itemize your deductions? WSJ columnist Tom Herman explains your options, and why this is important for citizens of states with no state income tax.

Tax Breaks for Higher Education - Education Expenses Can Lower Your Taxes

Sunday May 10, 2009

It's finally time to start paying all those college-related expenses you've been saving for all these years. Be sure to take maximum advantage of the various tax breaks available to you for education expenses - they're free money too!


Free File: The Best Free Sites for Filing Your Taxes

Friday Feb 6, 2009

(Originally posted 2/28/2008). A few weeks ago we promised to review all of the free federal tax software that the Internal Revenue Service and 19 tax companies provide taxpayers who make $54,000 or less a year ($56,000 in 2008). True to our word, three FiLifers who qualified for the Free File service gathered together their tax ...


Resources for Seniors Are Just a Click or Call Away

Monday Oct 5, 2009

From saving money on prescription drugs to finding free help for doing your taxes, use your phone line or go online to find valuable information just for you. We’ve gathered this list of resources for seniors for you to use.


Do 529 Contributions Affect Gift-Tax Limits?

Monday Jan 26, 2009

Gitf-tax limits apply to 529 college savings plans...sort of. There is a loophole that lets you give more than $13,000 to a 529 plan in one year.


How are Bonds Taxed?

Tuesday Mar 24, 2009

Most bond interest income is taxed at your ordinary income tax rate. But when you start to move into different types of bonds and accounts, you'll realize that bond income taxation is anything but standard.


Deducting Sales Tax

Friday Dec 21, 2007

Confused about whether to take the standard deduction or itemize your deductions? WSJ columnist Tom Herman explains your options, and why this is important for citizens of states with no state income tax.


Giving Smarter While Helping Your Estate

Tuesday Feb 10, 2009

Charity is down in this recession, but there is rare opportunity for wealthy donors to set up a trust to pass money onto heirs and shelter growth from taxes.


What is a Non-Deductible IRA?

Tuesday Dec 30, 2008

Most people are familiar with the traditional and Roth IRA. But for some, they should look into a non-deductible IRA. Here's what it is and what you should consider before signing up.


Guide to Choosing an Accountant

Thursday Jan 22, 2009

Do you need year-round tax help? Then you probably need an accountant. In this guide we break down what an accountant can do for you, whether you need one or not and how to choose one. We also provide a cheat sheet of the questions you should ask when interviewing an accountant.


About IRS Form 1065 (Schedule C)

Monday Feb 9, 2009

The basics of Form 1065 (Schedule C)


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