Tag Archives: tax law

With the looming possibility that the U.S. Supreme Court might strike down the Defense of Marriage Act sometime this term, married same-sex couples could suddenly find themselves eligible for a host of federal tax benefits. Even better, if couples file what is known as a protective tax refund claim with the IRS before the end of the year, they could potentially pick up some extra dollars going as far back as 2009. DOMA, the 1996 Clinton-era law banning federal recognition …

College tuition for a child born in 2012 is predicted to be more than $100,000 per year by the time this child reaches college age. Parents who plan to send their kids to college know that they need to start saving early. One good to save for college is through a 529 plan. Some new parents, in fact, now open a 529 account for their newborns and register for cash gifts.   529 Plans A 529 plan is a tax-advantaged …

How to Get Out of a Timeshare It seemed like a good idea at the time—buying a share of a pristine condo in a beautiful location for a week every year at the fraction of the cost of purchasing the entire property. Unfortunately, people who buy timeshares might find the real estate isn’t all it’s cracked up to be, and the property can be a pain to sell once the buyer’s signature is on paper. Find Out More…   University …

Owe Back Taxes? The IRS Might Compromise For consumers facing deep tax debt, there may be a light at the end of the tunnel. The Internal Revenue Service is liberalizing its “Offer in Compromise” program, which will make it vastly easier to reach a settlement with the government if you are unable to pay off all of your tax debt. Find Out More…   While Olympic Athletes Go for Broke, Families Go Broke Earning an Olympic gold medal takes years …

It seemed like a good idea at the time — buying a share of a pristine condo in a beautiful location for a week every year at the fraction of the cost of purchasing the entire property. Unfortunately, people who buy timeshares might find the real estate isn’t all it’s cracked up to be, and the contracts can be a royal pain to get out of once the buyer’s signature is on paper. Consumers might decide they want to get …