forming an llc

What Is a Limited Liability Company, or LLC?

When my husband and I created our first WordPress blog, we did it as a hobby. But once we started earning a real income from

us capitol building with storm clouds overhead

So the U.S. Has a Lot of Debt. What Does That Mean for Me?

Another year, another showdown in Congress as the nation’s debt ceiling looms overhead. Photo: James Pallinsad If you’ve been watching the national news lately, one of

alms box at st. peters

A Retirement Tax Trick You May Not Know About

Whether it’s a gift to your local church or a nonprofit environmental group, setting up a charitable remainder trust can help lower your tax bill

Uncle Sam

Uncle Sam Wants YOU… to Retire?

Image: Library of Congress When I meet with investors, most believe health care will be their single largest expense during retirement. They’re surprised when I

pile of receipts

The Receipt Cycle: How to Keep Tabs on Your Spending and Tax Deductions All at Once

 Photo: Jinx! Back in March, I sat down to file my family’s income taxes, both federal and state. Part of that process is taking a

networking event

Five Ways to Write Off Your Next Vacation

Add a professional conference or networking event to your next vacation, and you could write off a portion of your trip. Photo: Tech Cocktail Planning

investing charts

Roth IRA vs 401k? You May Not Have to Choose

One of the most common retirement questions I get asked is: Roth IRA or 401(k)? Although both are good options worth considering, the answer isn’t

couple on the beach

Don’t Waste Your Tax Refund: Four Better Ways to Use It

Your tax refund could pay for a one-week vacation now… or an early start to the permanent vacation of retirement. According to the IRS, the average tax

filing out tax form

Can the Saver’s Credit Save You Money on Your Taxes?

Low- and moderate-income earners can get a double tax break on some retirement contributions. Photo: AgriLife Today For many people, two of the most frightening words

Marines arrive in Afghanistan

Tax Benefits for Members of the Military

Military personnel deployed in combat zones are eligible for a number of tax benefits. Photo: DVIDSHUB Under normal circumstances, preparing all but the simplest tax returns can


Is Your ‘Business’ Just a Hobby?

Just because you make some money off it doesn’t mean your hobby is a business — at least, not according to the IRS. Photo: fasteddy760 There’s

tax receipts

To Itemize or Not to Itemize? That Is the Question

Got receipts? You’ll need them if you want to itemize your tax deductions. But only do so if you can write off more than the

Uhaul truck on dirt road

Don’t Forget to Deduct…

You can deduct moving expenses if you relocate more than 50 miles for your first job. Photo: Kai Schreiber The tax-preparation chain H&R Block is

taxes and calculator

Six Common Tax Misunderstandings – and How to Survive Them

During the first few months of the year, I read lots of articles and hear from many readers on the question of income taxes. It’s

child using a calculator

Five Tax Breaks for Parents

Chances are, your kid can help with your taxes: The deductions and credits available to parents can really add up. There’s a lot to be


Seven Truths About Self-Employment

Working on your own means wearing every hat at once. Photo: Bob Mical It’s three hours until closing time and you’re already counting down. Once

IRS building

Your Taxpayer Bill of Rights

The majority of taxpayers have long held the belief that they have no rights before the IRS, according to IRS National Taxpayer Advocate Nina Olson.

file folders

Tax Prep Checklist

Make sure you gather the right documents before diving into your taxes. Photo: C X 2 Even the most knowledgeable tax professional can’t complete your