Jan Anderson

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Can IRS Collect 30 Year Old Tax Debt? You Bet

Don’t pay your income taxes and the IRS will come after you. But fail to pay <i>payroll</i> taxes and the IRS can push even harder. Payroll taxes involve withholding tax money from employee wages.<p>Employers must hand it over to the IRS. “Responsible persons” have <b>personal</b> liability even if they are employees …

Reverse mortgages backfire on some seniors

As America's population ages, the hard sell is on for reverse mortgages. Promising happier days ahead, the former "Fonz," actor Henry Winkler, is giving the hard sell in relentless television ads. But the housing crash and the fiscal state of today's seniors are causing many of these loans to …

How To Write Off Your Summer Vacation On Your Taxes

The only way to do this is to include certain activities in your trip.<p>Combine business with pleasure. Take a meeting for business in a distant location and all of your airfare is a deductible business expense even though you spend some time on your personal activities.<p>As long as the primary purpose …

Personal Finance

Tax-Free Funding for Your Business--From Your 401(k)

If you think using retirement money to start a company means a big tax payment, think again. There's a way around the problem.<p>Bohnne Jones worked in the healthcare industry for 33 years until she was laid off in January 2002. Going back to school and picking up expertise in IT gave her a new start, …

Apple, Google Among Top U.S. Companies Parking Cash Offshore To Reduce Taxes, Study Says

Apple may get the brunt of the attention for its use of offshore havens to offset the taxes it pays in the U.S., but it’s hardly alone.<p>Six of the biggest names in technology — Apple, Microsoft, IBM, Cisco Systems, Hewlett-Packard and Google – ranked in the Top 15 of the 100 publicly-traded …

IRS Releases Draft Form 8960 For Computing New 3.8% Tax On Net Investment Income

America’s long national nightmare is finally over: the IRS has released the draft form — Form 8960, to be exact — to be used to compute the new 3.8% tax on net investment income that was created as part of<p>The Patient Protection and Affordable Care ActObamacare.<p>The new 3.8% tax, which became …

6 Popular Tax Breaks That Could Disappear in 2014

Without extensions from Congress, several important tax breaks may end.<p>As the end of 2013 approaches, many taxpayers are beginning to look for ways …