September is back-to-school month. Here's a quick reminder of some education tax benefits that are new or improved in recent years.

Writing up the minutes of board of directors' meetings is not exactly a high priority for most business owners. Yet well-documented corporate minutes can provide valuable supporting evidence if your tax positions are ever questioned.

Be aware of a new IRS audit program called the National Research Program that is now underway. The program is measuring taxpayer compliance and error rates. Results will provide new benchmarks for the computer programs the IRS uses to flag returns for its regular audit activities. The good news is that the audits will be less intrusive than the line-by-line audits of ten years ago, and they should result in fewer unnecessary audits in the future.

If you do volunteer work for a charitable organization and have not kept track of your out-of-pocket expenses, you might be passing up an excellent opportunity to lower your tax bill. To qualify, your unreimbursed expenses must relate directly to the charity, and you must itemize your deductions on your tax return. Here is a brief rundown of some possible deductions.

Since the tax return deadline for 2002 has come and gone, you may be tempted to file your tax records and forget about them. However, there may be some situations in which you may want to re-visit your taxes and file an amended return to claim a refund.

The new tax law cut 2003 tax rates for many taxpayers. With lower tax rates, you may be wondering if you should change your tax withholding or quarterly tax estimates. The answer depends on how you earn your income.

If your children are planning to work this summer, make sure you and they know the basics on taxes.

On May 28, 2003, President Bush signed the 2003 Tax Act into law. All the tax cuts in the new law affect 2003 taxes, so you should take them into account in this year's tax planning. Here's a quick summary of the key provisions.

You probably know that you can exclude up to $250,000 of gain ($500,000 for most joint filers) when you sell your principal residence. Recent IRS regulations may now allow you to apply this gain exclusion when you sell vacant land that is adjacent to your home.

Everyone has heard of sales tax, but few people are familiar with use tax. Use taxes are similar to state sales taxes but with one difference. A sales tax is levied on purchases made within the state. A use tax is levied on purchases made out of state when the goods are brought into the state to be used.

Imagine this scenario. Your wealthy Uncle John is something of an art collector, buying paintings and sculptures from promising young artists. When he retires, he moves into a small condo in a retirement community and has to downsize his art collection. He gives away much of his art to family members, and you receive an abstract painting. He tells you that he paid $5,000 for it only two years ago.

Did you know you might be able to earn a tax credit as well as a tax deduction for contributing to your IRA or company retirement plan? In 2001, Congress authorized the "saver's credit" to encourage lower-income taxpayers to save more for retirement. If you qualify, a percentage of your contributions to an IRA or a qualifying plan will directly reduce the taxes you owe. Here's how it works.

April 15th will be here before you know it. If you won't be able to complete your income tax return by then, don't forget to file a Form 4868 with the IRS to give yourself up to four additional months to get it done.

It's difficult enough to think about taxes under normal circumstances. Finding yourself amid a divorce action can make this task even more daunting. A little planning, however, may ease this burden. Consider, for example, the following ideas about your tax filing status if your divorce wasn't final by December 31, 2002.

It's that time of year when we're filling out tax returns, either electronically or on paper. This year it's more important than ever to check that all the social security numbers you enter on the return are correct.

At this time of year, advertising for tax preparation software is everywhere. You may be asking yourself, "Why do I need a tax professional when sophisticated tax software is readily available? After all, tax software contains all the latest tax changes and automatically checks for arithmetic errors."

Do you pay for child care so you can work? If you do, don't overlook the child and dependent care credit, which directly offsets the taxes you owe.

One proven way to reduce taxes is to shift a portion of your income to someone in a lower tax bracket. Here are some ideas to achieve that by shifting income to your child.