There are a few basic records that everyone should keep, according to the IRS, including documents that provide 
evidence of your income and expenses. In addition, if you own a home or have investments, the IRS recommends that you hang onto related records
Month: March 2010
10 Tax Breaks for Parents
by Jennifer Saranow Schultz
Wednesday, March 10, 2010
Wednesday, March 10, 2010
provided by
There’s one benefit to having children besides the joy they can bring you: tax breaks.
CCH, a provider of tax information and services, released a list this week of ten ways the tax code benefits parents by helping to defray th e costs of raising and educating children. Here’s the list from CCH
Converting Your Home Into a Rental: Tax Matters
…converting a former personal residence into a rental property has some tricky tax implications that may come back to haunt you when you finally sell the property. And, as you will see, knowing your home’s fair market value on the day you convert it to a rental is very important.
NetWorthBasics.com 