McLean, VA – Can a custom made video posted to YouTube™ keep troubled borrowers from losing their homes to fraud artists? Freddie Mac aims to find out.

Provided by The Ohio Society of CPAs

As a rule, you must pay income tax throughout the year through quarterly installments or tax withholding – or a combination of the two. Otherwise, the IRS may impose an estimated tax penalty unless you meet one of these three “safe harbors:”

Provided by The Ohio Society of CPAs

Did you know that this year you can give gifts of up to $12,000 to as many individuals as you want without being liable for gift tax? Normally, any gift you make counts towards your lifetime exemption from gift and estate taxes. That’s so you don’t just give away your estate shortly before death to avoid estate taxes.

Provided by The Ohio Society of CPAs

When the Kiddie Tax hits part of your child’s unearned income (typically from investments), it gets taxed at your higher marginal rate rather than at your child’s lower marginal rate.

For 2007, the Kiddie Tax won’t affect a child who is age 18 or older as of year-end. Next year, however, the Kiddie Tax can hit part of the unearned income of a child who will be age 18 and a full-time student who will be age 19–23 as of Dec. 31, 2008 if the child’s earned income for the year, such as wages, does not exceed half of his or her support.