Back-to-School Tax Credits

Take Advantage of Credits and Deductions  Are you, your spouse or a dependent off to college? If so, here’s a quick tip from the IRS: some of the costs you pay for higher education can save you money at tax time. Here are several important facts you should know about education tax … Continue reading

IRS Red Flag Scenarios

TAXPAYER CLAIMS HE IS A WRITER... A taxpayer was unable to prove his business deduction as a legitimate expense.  In 2006-2007 the taxpayer claimed his trips abroad were to take photographs for a book on world travel.  He deducted $20,000 for costs associated with his travels to Africa, … Continue reading