Are Your Scam Losses Tax Deductible?
An IRS chief counsel recently issued advice (CCA-2025-11015) that describes five situations in which taxpayers were victimized by scammers.
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April 2025
Ever Wondered About Hiring Your Kids?
One of the more interesting questions I get now and then is "I heard that I can hire my kid and save on my taxes. Is that true?" The answer to that is yes - IF you follow the IRS rules. I think their is a better reason to hire your children, though. It is the best education they can learn to prepare them for life after they move out of your house - from either an employee's point of view or a business owner's point of view or both.
Here’s what you need to know.
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Does it Matter Who's Name is First on Your Tax Return?
It seems that you can find a study about just about anything these days. I was readying about a study that was done at the University of Michigan, using data from the U.S. Treasury Department to determine if it matters whose name is listed first on a tax return.
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