Don’t Pull A Wesley Snipes on Your Taxes

It amazes me the number of people I still come across that believe they don’t have to pay federal income taxes. 
Go for it. 
See how that works out for you.
Last week’s sad, quirky, and generally strange incident of a disgruntled taxpayer who flew his small plane into the Internal Revenue Service office in Austin, Texas reminded [...]

Tax Time: Home Office Deductions

Requirements Checklist: Ask yourself the following to see if you are eligible for a business use of the home office deduction:
Is your use of the business part of your home exclusive, regular, and for your business?   
To qualify under the exclusive use test you must use an area of your home only for your trade [...]

Roth IRA Limits Removed for 2010

blackgirlgrown is proud to feature Shannon King Nash, author of the award-winning book entitled, “For the Love of Money: The 411 to Taking Control of Your Taxes and Building Your Net Worth.”
Roth IRAs have long been a great retirement choice.  You can contribute up to $5,000 each year ($6,000 for those 50 and older).  You don’t [...]

Finding A Tax Preparer

blackgirlgrown is proud to feature Shannon King Nash, author of the award-winning book entitled, “For the Love of Money: The 411 to Taking Control of Your Taxes and Building Your Net Worth.”
Finding the right tax preparer can be the difference between owing nothing to forking over thousands in taxes.  Don’t wait until your taxes are due [...]

Tax Deductions for Non-Profit Volunteers

blackgirlgrown is proud to feature Shannon King Nash, author of the award-winning book entitled, “For the Love of Money: The 411 to Taking Control of Your Taxes and Building Your Net Worth.”

In this spirit of holidays, many nonprofits will see a rise in the number of volunteers helping to fulfill their missions.  Nonprofits in Los Angeles [...]

Filing Your Taxes? Get A Head Start

blackgirlgrown is proud to feature Shannon King Nash, author of the award-winning book entitled, “For the Love of Money: The 411 to Taking Control of Your Taxes and Building Your Net Worth.”

The past does repeat itself and looking at old tax returns can help you come up with what your situation will look like for 2009.  [...]

Be Charitable, Save Money on Your Taxes

First comes Christmas, then New Year’s, and before you know it, April 15th. Even though there are less than 9 days before 2010, there are a few philanthropic and tax-saving gifts you can make before then to lower your tax bill (and perhaps increase your return!).
More important than taking the charitable deductions is doing it [...]

Taxes: Is It Really That Time Again?

No, not quite.  But to ensure a happier ending, Black Enterprise provides some tips on what you can do now to prepare for your annual dance with the tax man:
Homebuyers, gather your records. If you purchased your first home in 2009 or purchased a home after more than three years, you’re likely eligible for $8,000 [...]

State Sales Tax Holidays in August

Make sure to take advantage of state sales tax holidays in your area. Great for back to school shopping and stocking up on the essentials.
Of course, restrictions apply. There are limits on the types of items you can purchase and the maximum amount of items as well.

Alabama: August 7-9
Connecticut: August 16-22
Iowa: August 7-8
Louisiana: August 7-8
Missouri: [...]

What’s Deductible? Summertime Child Care Expenses

The Internal Revenue Service (IRS) recently provided guidance to taxpayers on the use of the Child and Dependent Care Creditand deductibility of child care expenses during summer. 
The Good News:

The cost of day camp can count as an expense towards the child and dependent care credit.
If your childcare provider is a sitter at your home or [...]

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