Tag Archive: deduction

Dec 19 2013

Lone Star State: Who’s Afraid of the Alternative Minimum Tax

Year after year, Congress keeps kicking meaningful income tax reform down the road. Consequently, taxpayers continue to be stuck with an archaic, overly complicated mess that pleases no one – except perhaps some tax accountants who charge by the hour. A prime example is the dreaded alternative minimum tax (AMT). Enacted in 1969 to close …

Continue reading »

Permanent link to this article: http://www.easttexasreview.com/lone-star-state-whos-afraid-of-the-alternative-minimum-tax/

Nov 23 2013

Understanding the ‘Kiddie Tax’

For something whose nickname sounds so innocent, the “kiddie tax” certainly can wreak havoc on unprepared taxpayers’ yearly returns. Congress first introduced the kiddie tax as part of the Tax Reform Act of 1986 to discourage wealthy parents from sheltering their investment income in accounts under their children’s names, thereby avoiding paying taxes on the …

Continue reading »

Permanent link to this article: http://www.easttexasreview.com/understanding-the-kiddie-tax-2/

Oct 29 2013

Tax deduction: moving expenses

Whether you’re relocating across town or across the country, moving is expensive. By the time you’ve paid to have your household goods packed and moved, cancelled and reconnected utilities and racked up storage fees, you could easily be out thousands of dollars. Many people don’t realize that if they’re moving to start a new job, …

Continue reading »

Permanent link to this article: http://www.easttexasreview.com/tax-deduction-moving-expenses/

Jul 24 2013

Lone Star State: Tax breaks for job hunters

Summertime is the season that often leads to major life decisions, such as buying a home, moving or a job change. If you are looking for a new job that is in the same line of work, you may be able to deduct some of your job hunting expenses on your federal income tax return. …

Continue reading »

Permanent link to this article: http://www.easttexasreview.com/lone-star-state-tax-breaks-for-job-hunters/

May 22 2012

Prepare your kids for summer job expenses

By Jason Alderman High school and college students hoping to find temporary jobs may be in for a tough time this summer – once again – as they compete with older, more experienced workers in a still-struggling economy. But if your kid is fortunate enough to find work, there are a few things he or …

Continue reading »

Permanent link to this article: http://www.easttexasreview.com/prepare-your-kids-for-summer-job-expenses/

Apr 03 2012

Young workers and Social Security

By Phylis Dills Social Security Public Affairs Specialist in Little Rock, AR   Summer will be here before we know it. That means millions of high school and college students will be searching for jobs. Whether a new worker is beginning the career of a lifetime or just earning some extra money for the school …

Continue reading »

Permanent link to this article: http://www.easttexasreview.com/young-workers-and-social-security/

Jan 11 2012

Understanding the Kiddie Tax

By Terry Savage   Consider this news to be another step in the Tax Accountants Full Employment Act. The latest change in the tax law: The “Kiddie Tax” now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks …

Continue reading »

Permanent link to this article: http://www.easttexasreview.com/understanding-the-kiddie-tax/

Nov 16 2011

Tax deadline looms

By Jason Alderman Each year, roughly one-third of American households itemize deductions on their federal income taxes. If you’re among that group, there are a several important actions you need to take by year’s end in order to take full advantage of available deductions. For example, by December 31 you must pay for any uninsured …

Continue reading »

Permanent link to this article: http://www.easttexasreview.com/tax-deadline-looms/