Generally, most income you receive is considered taxable but there are situations when certain types of income are partially taxed or not taxed at all.
If you’re serious about slashing household expenses, it’s important to focus on costs you can control. Some items — such as mortgage and utility payments — may claim a large slice of the budget pie, but they’re either fixed or relatively inflexible. Banks, for example, expect regular mortgage payments; landlords frown when you don’t pay [...]
Did you buy your current home between April and December of 2008 and claim the then-new federal tax credit for first-time homebuyers? If so, repayment of the credit begins this year, and the first installment is due with your 2010 tax return. You might already have received a letter from the IRS summarizing how much [...]
The Child Tax Credit is an important tax credit that may be worth as much as $1,000 per qualifying child depending upon your income
If you purchased a home in 2010, you may be eligible to claim the First-Time Homebuyer Credit, whether you are a first-time homebuyer or a long-time resident purchasing a new home. The purchaser must have been at least 18 years old on the date of purchase; for a married couple, only one spouse must meet [...]
If you do not receive your Form W-2, contact your employer to find out if and when the W-2 was mailed. If it was mailed, it may have been returned to your employer because of an incorrect address.
Starting in 2011, there is a new tax requirement for landlords. All landlords who receive $600 or more in rent for the year must send a 1099 to all service providers that the landlord paid $600 or more during the year, such as plumbers, carpenters, yard services, and repair people.