Mileage rates drop in two categories

The Internal Revenue Service (IRS) issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 54 cents per mile for […]

Exercise caution when shopping online

It’s hard to believe the holiday season is upon us. With Christmas right around the corner, many people are gearing up to do some serious shopping. While it can be fun to search stores and websites for the perfect gifts for loved ones, it can also present a few challenges, especially for older adults. According to […]

Track expenses on trips for charities

Do you plan to donate your services to charity this holiday season? Will you travel as part of the service? If so, some travel expenses may help lower your taxes when you file your return next year. Here are several tax tips that you should know if you travel while giving your services to charity. […]

Check out Marketplace deductions

You are allowed a premium tax credit only for health insurance coverage you purchase through the Health Insurance Marketplace for yourself or other members of your tax family. However, to be eligible for the premium tax credit, your household income must be at least 100 percent but no more than 400 percent of the federal […]

Make moves before retiring

You may be quite willing to plan an investment strategy for your retirement years. After all, it can be enjoyable to think about traveling the world, pursuing your hobbies or participating in any of the activities you’ve associated with an active retirement. However, once you do retire, you’ll need to “shift gears” somewhat to focus […]

When investing, keep emotions in check

What’s the biggest obstacle to your ability to invest successfully? Is it the ups and downs of the financial markets? Political events? The fact that you weren’t born rich? Actually, the chief hurdle you face is something over which you have control: your own emotions. Your emotions can lead to a variety of ill-advised investment […]

Follow workers’ traits when investing

We’re getting close to Labor Day, a celebration of the men and women who roll up their sleeves and go to work each day. If you’re in the work force yourself, you can appreciate that recognition of your efforts. And as an investor, you can employ these attributes of the American worker: • Organization: The […]

IRS will train volunteers how to file tax returns

If you ever wonder how to make a difference and help people in your community, then becoming a tax volunteer may be just right for you. The Internal Revenue Service (IRS) is looking for people to provide free tax help in 2016. You will receive all the tax training you need so you can help […]

August is month to establish legacy

August is What Will Be Your Legacy Month. If you knew that, you have an unusual knowledge of obscure celebrations. But even if you weren’t aware of this “month,” you can see that the idea behind it — the importance of leaving a legacy — is a critical one. What should you do to help […]

IRS site offers taxpayers options for several issues

Summertime or anytime, get the tax help and information you need on IRS.gov. Our many online tools and services make it easy for you to do business with the Internal Revenue Service. Here are the top reasons to visit IRS.gov this summer: • Use IRS free file: If you still need to file your 2014 tax return and you […]