Traditionally, the Kiddie Tax taxed all “unearned income” a child made at the parent’s marginal tax rate. It was another way Uncle Sam created to take money from the more “affluent” Americans. Truthfully, the Kiddie Tax not only affected the well to do, but everyone who wanted
Adjusted Gross Income Adjusted gross income numbers are becoming even more important. Here’s another tip to help you understand the importance of lowering your adjusted gross income (AGI). In 2011, the Obama administration took away many people’s ability to make a traditional IRA contribution and have it
Tax evasion is not a term you look up hoping to save money on your taxes. If you are planning to evade taxes sooner or later you will find yourself in serious legal trouble. Tax evasion or tax fraud, is the purposeful and illegal attempt to evade
Tax audit fear increases with every tax season. And this fear is becoming more justified. I was shocked to read in Bloomberg that Uncle Sam is auditing more Americans than ever before. In the year 2000, one in every 203 Americans faced a tax audit. In 2012
