What direction do you think interest rates are headed in?
Homeowners have ridden the variable interest rate mortgage ride for all it's worth. The prime rate hit 20% in 1980.  Since then interest rates have been in a long and steady decline.  Along the way, borrowers would refinance their house and take out more cash as the value of the property was rising.  Times have changed just a wee bit.  more…

The statute of limitations limits the time during which an action can be brought by the IRS for an audit and the time for IRS tax collection activities.  Generally, there is a 3-year period for the IRS to give you a refund, three years to audit your tax return, and ten years to collect any tax due. more…

It’s that time of year again….time to file your income tax return.

What if you can’t get it done or don’t have all of your material to prepare it?

File for an extension.

To file an extension, complete Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.  This must be completed and filed by the due date, April 18, 2011. The extension is granted automatically if it is filed completely and on time.  The extension is for six months and allows for the returns to filed up until October 17, 2011. more…

Another year has gone by. 

It's time to begin gathering my material for my taxes to be prepared.

Then it dawned on you, why hasn’t my accountant called me to discuss some possible strategies? If these are questions you are having, it may be time to consider a new CPA. The following are some reasons to consider whether you should find a new accountant: more…

There are plenty of taxpayers that prepare their own individual returns each year. This is not always a bad thing, but when you make just one small mistake, you may risk owing more to the IRS than when you started. more…