Category Archives: Taxes

Do You Pay Taxes on Lawsuit Settlement Money?

People file lawsuits for a wide variety of reasons. Perhaps you have been injured in an automobile or work-related accident and the responsible party refuses to pay. Maybe you suffered wrongful termination and you want back-pay, as well as punitive damages. Or it could be that you are a contractor who completed work and never

The Impact of Divorce on Your Taxes

For most people, filing income tax returns annually is a chore best handed off to professionals. This is not to say that plenty of people don’t still try to file their own returns, especially now that they can be done online, but generally speaking, the longer we live the more complex our taxes become, until

5 Tax Deductions That Could Trigger an Audit

There’s a reason why so many people are nervous about doing taxes; it’s because even a small mistake could end up costing you a lot. If the IRS catches your mistake you might face more than fines – you could end up with an audit to contend with. Of course, the biggest mistake most people

The Tax Implications of Life Insurance

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Life insurance policies are confusing things, and there’s absolutely no secret about that. While there are plenty of resources available to help you understand the ins and outs of life insurance, it can still be easy to get a little lost in the details, whether you’re trying to figure out exactly which type of plan