Personal Finance Mastery

Here are 9 Tax Deductions that expired at the end of 2011; for the millions of Americans that use these deductions you will find yourself with a higher tax bill the following Spring when you do your 2012 taxes.
MORTGAGE INSURANCE PREMIUM DEDUCTION
Starting in 2006 new loans that required Private Mortgage Insurance (PMI) and the borrower [...]

Everything You Need In Oder To Do Your Taxes
It’s that time of year again when W2’s are in the mail and everyone starts scrambling around searching for those receipts from last year and wondering will I get a refund or will I have to pay. The 2012 Tax Season has arrived and one of the [...]

How the Government is Taking Outrageous Tax Revenue from Every Gallon of Gas
Over the past few months I think we have all been a little pinched by the increasing cost of gasoline.  Luckily we have had a small reprieve lately with the price of crude oil pulling back a little but it has started creeping [...]

Tax season, my favorite part of the year! Not really but if you know how to estimate your taxes correctly at the beginning of the year, there shouldn’t be anything to worry about.  Even though I know how to calculate my taxes, I like to sit down with my Certified Public Accountant (CPA) and see [...]

So what is the Alternative Minimum Tax (AMT)? If you don’t know what it is then you better pay attention because with Congress taking no action so far in 2010 many more Americans will find themselves victims of this tax. The AMT was created in 1969 as a tax against the rich and super wealthy [...]

Understanding tax rules can help you owe less and have a greater return because there are sure to be deductions you are missing out on. Listed below are a few to give you an idea of what can be deducted legally.