Divorce is not a topic most of us like to discuss. The unfortunate reality, however, is the divorce rate in our society has hovered around 50% for the past several decades. When marriages dissolve, there are a lot of issues that must be addressed. Among the most critical is the affect the divorce has on […]
Author Archive | Deirdre Morhet
IRS Penalty Relief: Reasons for “Reasonable Cause†Abatements
When you owe back taxes to the IRS, penalties are assessed for payments that are overdue. Naturally, the IRS is very hesitant to reduce or waive these penalties because they want taxpayers to learn a lesson for failing to pay on time. That said; there are several “reasonable causes†in which they may consider penalty […]
7 of the Most Overlooked Tax Deductions
Throughout the complexities of the Internal Revenue Code, there are deductions available for many individuals. Most people are aware of the common deductions; such as home mortgage interest, property taxes, charitable donations, etc. There are other deductions, however, that could be applicable to many taxpayers but few people are aware even exist. Here 7 deductions […]
How to Develop Better Spending and Saving Habits
We live in a consumer-driven society in which we are inundated with daily advertising telling us how much better our lives will be if we buy a certain product or receive a certain service. Banks do not help much either; they send out pre-approved credit card offers to anyone with a pulse (and we’re only […]
5 Ways to Improve your Personal Finances
Improving your personal finances is a necessity regardless of your income level. When it comes to personal finances, it is always good to establish better habits but some may not know what steps to take to better manage their finances. Toward that end, here are five things you can do to make an immediate and […]
How to Maximize Your Personal Budget in the New Year
With the New Year just around the corner, it is the time of year that everyone is making resolutions. Personal finance is one of the most popular areas of focus for those looking to improve themselves in the coming year. Specifically, keeping the household budget in balance and hopefully having some left over to put […]
5 Reasons to Think “Small†This Holiday Season
With the holiday shopping season upon us, we all must decide how we will spend our dollars this year and just as importantly where we will spend them. The big-box retailers and national restaurant chains spend a lot on advertising and have conditioned many of us to gravitate towards their establishments during the height of […]
How a Subchapter “S†Corporation Can Minimize your Tax Burden
Owning and operating a small business can be a challenge. Often, you need to wear a number of hats including the sales person, customer fulfillment, and bookkeeper, among others. The work sometimes seems endless but if you have the right business model and stick with it long enough, success eventually comes. The problem is that […]
