This Week's Must Read

We live in ridiculously convenient times. Think about it: Whenever you need any kind of information, about anything, day or night, no matter where you are, you can just tap your finger on your smartphone and within seconds an answer will appear, as if by magic, on the screen.

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We live in ridiculously convenient times. Think about it: Whenever you need any kind of information, about anything, day or night, no matter where you are, you can just tap your finger on your smartphone and within seconds an answer will appear, as if by magic, on the screen.

Read the rest of the story.

How much you are eligible to save in tax-advantaged retirement accounts each year depends on a host of factors including where you work, how much you make, your marital status, your filing status, how much your spouse makes, where he or she works and if you are self-employed.

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It’s tax preparation time again, which means it’s time to collect your records and hope for the best. it’s also a time when taxpayers quake at the thought of a potential audit.

The good news is your odds of being audited are low: In 2012, the latest year for which the IRS has released data, just 1 percent of all taxpayers were audited. And really, honest taxpayers have nothing to fear but inconvenience from an audit.

“To me, the real question is not how do I avoid an audit but how do I make sure I’m ready for an audit,” said Jackie Perlman, principal tax research analyst at H&R Block’s Tax Institute.

Still, it’s worth knowing what elements in your filing might catch the eye of the IRS. This year, there are some long-standing potential triggers, but also some new ones.

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Everyone knows that not paying your taxes can get you into trouble with Uncle Same. But it turns out, the same is true if you do pay your taxes.

In the past three years, tax identity fraud has skyrocketed. According to attorney Steve Poporoff of the Federal Trade Commission, complaints about this relatively new crime have tripled since 2010. In fact, last year they made up almost half (44%) of the total number of consumer complaints the commission received.

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