tax laws

Taxes

Tax Credit for Child Care

Posted August 13, 2009 11:27 PM

Q: Dear Tax Talk, Is my family eligible for a federal tax credit for child care expenses if it is a relative who is providing the care and we are paying the person by personal check? -- Scott A: Dear Scott, You may be able to claim a credit if you pay someone to care for your dependent who is under age 13 or who is not able to care for himself or herself. To qualify, you must pay these Read more...

See also: child care, IRS, tax credit, tax laws

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Taxes

10 New Tax Laws You Need to Know

Posted February 2, 2009 1:06 PM

Federal lawmakers simply cannot resist tinkering with the tax code. By one estimate, more than 500 tax law changes were made last year alone. Many of the 2008 changes were made, not surprisingly, in connection with the slowing economy in general and the housing crisis in particular. But many tax-law tweaks last year also were in areas that seem to get constant attention on Capitol Read more...

See also: tax code, tax laws, tax season

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September 10

The Game Sure Seems Rigged

by Paul B. Brown @ 6:05 am. Filed under congress, fairness, IRS, money, tax laws, taxes
Rep. Charles Rangel, who is in charge of Congressional oversight of the U.S. tax code thanks to his position as chairman of the House Ways and Means Committee, is scheduled to hold press conference today to, in the words of The Wall Street Journal “respond to questions raised in recent weeks about his compliance with congressional disclosure rules and his tax returns.” Rangel has already said he didn’t report on his taxes more than $75,000 in rental income on a resort villa he owned in the Dominican Republic. And the Journal notes “documents released on Rep. Rangel's behalf also showed he paid no interest for a mortgage used to purchase the beach property.” More…
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Estate Planning

Avoiding Capital Gains Tax

Posted August 15, 2008 11:01 AM

Dear Tax Talk, My mother is buying a new home using money from an inheritance. She doesn't have to sell her current house, but feels that she needs to in order to take advantage of the $250,000 capital gains tax deduction. She is afraid that she will not be able to claim the deduction after a few years of living in her new home or that the tax laws will change to pre-1997 levels. I Read more...

See also: capital gains, home, inheritance, tax deduction, tax laws

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