A good tax shelter is hard to come by, but the perfect shelter may be right in front of your eyes. There are many companies which are encouraging people to spend their hard earned money on investments in tropical places where it will be kept safe and away from the IRS. Yes, this type of tax shelter is illegal and really aren’t very efficient in keeping your money away from the tax man. However, most people do not realize that that the government allows us to use our homes as a way of collecting a tax deductions, credits, and benefits. These benefits were established to offset the costs of owning a house. It is said that home owners are the basis to all communities and therefore the economy as a whole. (more…)

The fact that women live from five to ten years longer than men probably comes as no surprise to anyone. In fact, centenarian experts claim that of those over age 100, 85% are women. While the reasons for this has been a subject of debate, what should not be up to debate is that women need to pay special attention to their financial planning needs to account for this increased longevity. (more…)

In addition to basic questions like “what is income tax,” and “what is an income tax return,” one question that people often ask is “Why should I pay tax?” Let us look at the reasons you should pay your taxes: (more…)

In order to minimize your tax bill and maximize your tax refund, you need to make sure to take advantage of every deduction and credit you’re entitled to. To make this a little easier for you, we’ve highlighted 5 deductions that most taxpayers are entitled to take, but often overlook when filing their tax returns. (more…)