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Tax Lounge Blogs

What is the fiscal cliff?

I happen to live near Chicago and we have a saying here that says Chicago has two seasons—winter and construction. It seems like the country has two seasons as well Election time and preparation for election time The Presidential election

Posted To: Tax Rants by David Rocci By: David Rocci on 11/8/2012 11:55:00 PM

Political Contributions Tax Deductions

We are in the final stretch of the 2012 presidential election and the contributions keep coming.

Posted To: Ramblin Randall By: Ramblin Randall on 11/1/2012 2:14:30 PM

Will my income increase?

The Social Security Administrations said this week that the monthly benefits for nearly 62 million recipients of Social how hard we work and what value we bring to the table so get busy   The 1.7 percent cost of living

Posted To: Tax Rants by David Rocci By: David Rocci on 10/27/2012 7:47:08 AM

Horrors That Can Haunt Us All

It’s that time of year! Zombies crawl out of coffins. Ghosts and bats swoop overhead.

Posted To: Tax Mommy's Blog By: Stephanie Brenneman on 10/24/2012 2:31:41 PM

IRS increases retirement contribution limits for 2013

Several studies reveal that many Americans are focusing more seriously on their retirement planning efforts to ensure they don't fall short when they enter their golden years. More workers are enr

Posted To: Tax Ranger's Blog By: Tax Ranger on 10/23/2012 3:34:33 PM

Are credit card rewards taxable?

Many people often use credit cards for the rewards they offer.  People could receive free flights, cash back, or other gift cards, but could you actually be increasing your tax liability? We hope that you are paying off your credit

Posted To: Tax Rants by David Rocci By: David Rocci on 10/14/2012 8:25:06 PM

Follow the right process after inheriting an IRA

No one wants to come into money through the death of a loved one, but many parents and family members choose to leave their retirement accounts to relatives as part of their estate. When a person inhe

Posted To: Tax Ranger's Blog By: Tax Ranger on 10/10/2012 3:50:56 PM

Managing your tax records when filing season is over

With tax season long over and the holidays approaching, many people are putting their records behind them and preparing their homes for gatherings with family and friends. For individuals who are clea

Posted To: Tax Ranger's Blog By: Tax Ranger on 10/5/2012 3:15:33 PM

Warning: Tax extension deadline is near

DEADLINE APPROACHING   We got that out of the way.  Here’s the deal my friends.  The tax filing and payment deadline runs out on October 15th   That is coming up quick If you have filed an extension, we urge

Posted To: Tax Rants by David Rocci By: David Rocci on 10/4/2012 8:33:48 PM

What is the effect on Capital Gains tax rate?

Congress held a meeting recently to discuss the capital gains taxes and how they might be reformed.  This is one of the great American debates and has major impacts, specifically on the wealthy, and can take a lot of time

Posted To: Tax Rants by David Rocci By: David Rocci on 9/27/2012 11:38:53 PM