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Tax Lounge Blogs

Landlords: Start preparing your income taxes soon

Many people with second properties find themselves becoming "accidental landlords" when they rent out these homes or condos to others at various points of the year. The Internal Revenue Serv

Posted To: Tax Ranger's Blog By: Tax Ranger on 12/17/2012 1:52:17 PM

Few people claim the mortgage interest deduction

Homeownership is not only considered a smart financial investment, but also a satisfying personal aspiration. However, owning property is one of the most significant monetary moves most people make du

Posted To: Tax Ranger's Blog By: Tax Ranger on 12/10/2012 1:45:42 PM

Mileage rates increased for 2013

The IRS just released its standard mileage rates for 2013, which show slight increases from the current 2012 rates. These rates are made available so that employees, self employed individuals, and other taxpayers can calculate their tax deductible transportation costs

Posted To: Tax Rants by David Rocci By: David Rocci on 12/9/2012 11:17:38 PM

Won the lottery? You must pay Uncle Sam

After the largest Powerball lottery in history ended last week, many Americans may be wondering how much those lucky winners will walk away with. The final jackpot totaled $587.5 million, with two win

Posted To: Tax Ranger's Blog By: Tax Ranger on 12/3/2012 4:07:57 PM

President and Congress working on deal to avoid fiscal cliff

President Obama is active pitching his plan to preserve current rates for the middle class while raising them for the wealthy. Congress and President Obama are actively trying to avoid the “fiscal cliff” which is a series of tax increases

Posted To: Tax Rants by David Rocci By: David Rocci on 11/28/2012 10:34:04 PM

IRS permits retirement loans, hardship distributions to Sandy victims

For the thousands of victims who were affected by Hurricane Sandy, coming up with the funds to cover daily costs or start rebuilding their homes can be challenging. While many may have homeowners and

Posted To: Tax Ranger's Blog By: Tax Ranger on 11/20/2012 4:43:29 PM

Tax issues to follow prior to the new year

Many Americans are concerned about the potential tax changes that may take place by the end of the year. While lawmakers have yet to make concrete changes to current rules, several proposed alteration

Posted To: Tax Ranger's Blog By: Tax Ranger on 11/19/2012 4:20:19 PM

Health savings accounts offer tax benefits

We are heading down the final stretch of 2012 and for many that means that it is time to review their benefits including medical, 401k and other fringe benefits.  One of those areas that are offered is the health savings

Posted To: Tax Rants by David Rocci By: David Rocci on 11/18/2012 2:46:33 PM

End-of-year financial planning tips

As the holiday season approaches, many people get caught up in making travel plans, purchasing gifts and hosting events. However, this can leave little time for individuals to organize their finances

Posted To: Tax Ranger's Blog By: Tax Ranger on 11/15/2012 4:01:21 PM

How much would it cost to be James Bond?

There is a certain attraction that comes to a character like James Bond and with the latest Bond movie, Skyfall, hitting the cinemas now, we are set to ponder, exactly how much would it cost to be James Bond? The

Posted To: Tax Rants by David Rocci By: David Rocci on 11/14/2012 7:17:36 AM