Taxes

You may have it ingrained into your brain that Tax Day is April 15. However, much like the extension granted in 2020, the government is once again offering you more time. The IRS recently announced they are postponing the April 15 deadline to file your taxes until May 17. That gives Americans two extra months […]

Whether this tax season is your first or you’ve been doing this adulting thing for a few years, you might still have questions about your taxable income. Including what it is, and how to calculate it. Perhaps you switched from one income type to another, like from standard wages to freelancing. Maybe you were even […]

Tax credits reduce your tax bill on a dollar-for-dollar basis. However, deductions are what lower your taxable income. The good news is that some home improvements can make your living space better and reap you benefits on your taxes too. There are multiple tax deductible home improvements you can undertake. That new bedroom might just […]

I was recently emailing back-and-forth with one of my readers at MoneyNing. I was explaining how contributing to a 401(k) is a better option for most people. That’s because the entire contribution to a 401(k) is deducted at the participant’s marginal tax rate. Since the withdraws are typically done after retirement, they are taxed at […]