Avoiding an IRS audit (part 1 of 2)
The first defense against an IRS audit is to avoid them in the first place – and knowing how IRS audits are triggered in the first place can equip you to take steps to avoid them. The secret IRS program The IRS runs a top-secret computer program (the “discriminate income function” or DIF) that analyzes the millions of […]
Everyone Has Hobbies. Here’s How to Tax Deduct Yours.
Some hobbies are more expensive than others. Eating out, traveling, owning classic cars, breeding horses, and boating are much more expensive that reading, watching TV, hiking, or clipping coupons. If you have an expensive hobby, you can make it that much more enjoyable by making it TAX DEDUCTIBLE. Hobby losses are not deductible, but […]
Aerobics for Your Financial Health
You have a healthy relationship with money if you pay all your bills on time, meet savings goals, allow yourself some freedom to spend, and don’t have much anxiety about financial issues. If this isn’t you, here are some exercises you can do to strengthen your MONEY MUSCLES: Keep Track. At least for the next […]