by mariettacp | Aug 1, 2014 | Money Tips
In the last few years, you may have purchased stock in a dot-com that’s now out of business, or in another company whose share price is now just pennies. Does this mean you can take a tax loss for a worthless security? Here’s a quick look at the rules....
by mariettacp | Jul 25, 2014 | Money Tips
Imagine this scenario. Your wealthy Uncle John is something of an art collector, buying paintings and sculptures from promising young artists. When he retires, he moves into a small condo in a retirement community and has to downsize his art collection. He gives away...
by mariettacp | Jul 18, 2014 | Money Tips
Once you have filed your 2013 tax return, you may still have a few tax questions. The IRS provides these answers to commonly asked questions. * How can I check the status of my refund? You can go online to check on your refund. Go to www.irs.gov and click on...
by mariettacp | Jul 11, 2014 | Money Tips
Are you a grandparent who wants to help pay for a grandchild’s college education? You’ll find several ways to do this, each with its own limitations and tax consequences. GIFTS. The simplest way is to make an outright cash gift to your grandchild each...
by mariettacp | Jul 10, 2014 | Money Tips
Selling items on eBay and other online auction Web sites has become a very popular way to get rid of unwanted household stuff, as well as a way to turn a little profit. Many users have even started full-time businesses auctioning merchandise on the Web. But like any...
by mariettacp | Jul 9, 2014 | Money Tips
You probably know that you can exclude up to $250,000 of gain ($500,000 for most joint filers) when you sell your principal residence. IRS regulations may now allow you to apply this gain exclusion when you sell vacant land that is adjacent to your home. To qualify,...
