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Tax Tips for the Unemployed

MainStreet  <>  Posted January 31, 2011 - By Seth Fiegerman

NEW YORK (MainStreet) — Unemployed Americans have plenty of financial concerns to worry about, but filing taxes doesn’t need to be one of them. In fact, if you know what to look out for, you can turn your tax returns into another payday.

Unemployment Benefits

More than 14 million Americans were unemployed at the end of 2010, many of whom are either currently collecting unemployment benefits or did so at some point during the year.

Continue the Article by Seth Fiegerman

Tax Tip: Deduct Your Mandatory Employee Contributions

Main Street <> Posted March 23, 2011  by Rober D Flach

Do you live and/or work in Alaska, California, New Jersey, New York, Pennsylvania, Rhode Island, Washington or West Virginia? If so, chances are your employer is withholding mandatory contributions to a state disability, family leave, unemployment, and/or workers’ compensation fund from your paycheck. You can deduct these mandatory employee contributions as a tax if you itemize it on Schedule A. 

These withholdings are considered a form of state and local income tax. So...

Continute the article...

Tax Tip: Deduct Home Costs Even When You're Not on the Title

MainStreet  <>  Posted March 21, 2011 - By Robert D. Flach

NEW YORK (MainStreet) — Often a young married couple just starting out does not have enough income or credit to get a mortgage, so their parents will buy a house for the “kids” either using the parents’ money, the couple’s money or a combination of the two.

The deed and mortgage will be recorded in the name of the parents, who live elsewhere, but the “kids” will live in the property as their personal residence, maintain it and pay all the bills, including the property taxes and the monthly mortgage payments.

Continue the Article by Robert Flach

Tax Time is Upon us and here are a few tips that I found from Mainstreet.com; on in particular concerning those that are unemployed. As time goes on and I find other information, that information will be added to this page.  These are...
Tax Tips on MrCraigJackson.com.
Tax Tips on MrCraigJackson.com.
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