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Tax Tips & Tricks

Which form to file, deductions to claim and deadlines to meet. Make filing your taxes easier with these tips and tricks.
  1. Tax Trivia (3)
  2. Tax-Reducing Deductions (10)

Tax Tips for Freelancers
Tax tips and strategies for freelance professionals and self-employed people.

Tax Tips for Gays, Lesbians and Same-Sex Couples
Don't get bogged down in federal and state tax confusion. Here's what gays, lesbians and same-sex couples need to know about filing taxes.

How to Itemize Deductions and Possibly Reduce Your Tax Bill
The standard deduction is certainly easier, and might be a better option if you have a simple tax situation or don’t own a home. But if you determine that itemizing is right for you, it could lead to substantial savings.

What's the Safest Way to Get a Tax Refund?
The IRS can deposit your tax refund directly into your checking or savings account. This is generally faster, and safer, than having a check mailed to your home address.

Avoid Tax Refund Anticipation Loans
Resist the urge to get your hands on your refund right away. Instant tax refunds are costly.

The Top 10 Personal and Business Insurance Tax Tips
When tax time comes there can be an array of questions about deductions and what to report as income. The Insurance Tax Do's and Don'ts list of tax tips below will hopefully help many with tax questions regarding insurance whether on a personal or business level.

What is the Gift Tax?
The federal gift tax is one of the most misunderstood and often ignored taxes assessed by the federal government. Two states also assess their own gift tax - Connecticut and Tennessee. Learn what the gift tax is and who is responsible for paying it.

When is a Gift Tax Return Required to Be Filed?
One of the most misunderstood taxes is by far the federal gift tax. Learn what the federal gift tax is and if you will need to file a federal gift tax return, or IRS Form 709, with regard to gifts that you make during the course of any given year.

Should You Pay Your Taxes With a Credit Card?
The IRS gives you the convenience of paying your income taxes with your credit card. Is the extra credit card debt worth it?

Tax Form 1099-C For Reporting Cancelled Debt
When a lender cancels your debt, you may have to report this as taxable income on your federal income taxes, unless there is an exception. If you're required to report the cancelled debt, the lender will send IRS Form 1099-C to you.

How to Pay Taxes on Sweepstakes Prizes
If you live in the United States, you need to pay taxes on your sweepstakes wins. Here are the steps you'll need to take to file your sweepstakes taxes.

Sweepstakes Taxes - How to Dispute the Value of Your Prize
Learn how to reduce your sweepstakes taxes by ensuring that you only pay the Fair Market Value (FMV), not the Approximate Retail Value (ARV) on your wins.

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