Blog Archives

Why The New Medicare Tax May Cost You More Money

Current Medicare Tax Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and the employer matches it, therefore they remit 2.9% to


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When is Cancelled or Forgiven Debt Taxable?

If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. This type of debt includes mortgages, credit cards, car loans and student loans. Lenders are required to send Form


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Tax Credits for “Going Green”

Homeowners still have time this year to make energy-saving and green-energy home improvements and qualify for either of two home energy credits.


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