The Internet, satellite communications, and WiFi. Cozy laptops, iPads, and other portable devices. These things make it so easy to work or run your business from anywhere. One of TaxMama’s favorite sayings is that her students can attend her classes from anywhere on or off the planet—even the International Space Station—as long as there is [...]
One of the scariest letters you can get is an IRS audit notice. It may be tempting to just not deal with it—but what happens if you ignore it, praying it will go away? It won’t. If you ignore the notice, the IRS could disallow all your tax deductions—and perhaps your dependents. You’ll end up [...]
When you’re young and working, retirement planning isn’t always a top priority. Many people defer that kind of thinking until well into their middle years when genuine fears sink in about their readiness for retirement. Retirement years should be something to look forward to—but they only will be if you have prepared. Check out these [...]
A CPA recently wrote to TaxMama struggling with a problem. Her client got divorced and paid her ex-husband for half the value of the house he bought before they were married. Now this lady is selling the house. Doesn’t seem like much of a problem, does it? Well, this was a house that the ex-husband had bought [...]
When you’re busy, it’s oh so easy to pull out your wallet and give your child cash to buy a hot lunch at school. But the cost of those lunches can add up pretty quickly. So just in time for the back-to-school season, I asked one of my favorite experts on saving money, Stephanie Nelson of CouponMom.com, [...]
Negative equity—owing more on your mortgage than your house is worth—has been a devastating multi-headed hydra over the past six years. Negative equity makes homeowners vulnerable to foreclosure should they hit hard times. It has sapped the primary source of retirement wealth for working families, and it has frozen owners in place, making it difficult for them [...]
No one wants to talk about death, but unfortunately far too many people put off discussing life insurance until it is too late. When you have others relying on you and your income, your death can spell disaster for them. The bottom line is that it is imperative to have a good life insurance policy in place [...]
Any parent knows that kids are expensive, but sometimes they can be even more of a strain on your budget than usual. Once your athletic kid gets close to middle school, you’ll likely face the “club sports” question: Should you encourage your child to join a more competitive—and more expensive—traveling team? Club teams are usually quite selective [...]
You’ve been responsible with money your entire life, setting some aside for retirement or to build up a rainy day fund. Then something unexpected comes up—a long stretch of unemployment, an illness with major medical bills, or major unanticipated home repairs—and you suddenly find your savings depleted. I’ve worked with clients who have gone through some of life’s [...]
My friend announced that she and 300 co-workers found themselves facing unemployment, as their jobs were outsourced less expensively overseas. Companies tightening their belts often will eliminate employees and hire contract workers, whether directly (freelancers) or indirectly (overseas). Employees mean payroll taxes, workers compensation insurance, sick days, holidays, vacation days, and other benefits, including health insurance. Because [...]
