Taxes
Nowadays, do-it-yourself online tax filing is easily the most popular way to file you tax return. For many people, it’s convenient, cheap, and takes care of your tax needs with ease. Despite that, plenty of us still want to speak with a tax professional before we hit that ‘submit’ button. After all, taxes can be […]
5 minute read
Taxes
Every single year without fail, tax time returns. If you’re already a seasoned tax veteran, then don’t worry. This article probably isn’t for you. However, if you are young and just started your first job or barely made any money last year, you might be wondering “how much money do you have to make to […]
4 minute read
Taxes
With as much as our lives have changed over the last year, it can be difficult to remember major obligations. But driver’s licenses need to be renewed, you could receive a summons for jury duty, and tax season still comes around. This can be a stressful time, and most earners may turn to tax prep […]
3 minute read
Taxes
Spring signals many things. It might mean (re)committing to those New Year’s resolutions, enjoying the warming weather and signs of new beginnings in nature, or some much-needed spring cleaning. Spring is always a season represented by the classic saying “out with the old, in with the new.” And then, of course, there’s the much-dreaded tax […]
6 minute read
Taxes
Each year, the Internal Revenue Service (IRS) updates their marginal income tax rates. In other words, they issue new tax brackets for the year ahead to reflect the ongoing impact of inflation. For 2021, there are seven income tax brackets in the United States: 10%, 12%, 22%, 24%, 32%, 35% and 37%. These will be […]
7 minute read
Taxes
On March 11, 2021, President Biden signed the American Rescue Plan Act into law. It’s a $1.9 trillion bill that extends many forms of federal assistance for businesses impacted by the Covid-19 pandemic. Two of the provisions found in the ARPT are the employee retention credit and the employer payroll tax deferral. These provisions are […]
3 minute read
Taxes
The Internal Revenue Service is currently swamped. Despite that admission, you might still be anxiously waiting for your expected tax refund. The IRS says they have already processed more than 91 million individual returns from 2020. Additionally, more than 68 million refunds have already been issued to taxpayers. However, the agency is still holding more […]
9 minute read
Taxes
Every single Spring, it’s the same thing. Tax season rolls around and millions of Americans stress about making sure their tax returns are correct. Even more than that, plenty of us search every nook and cranny of the tax code for ways to pay as little as possible. For most people, income tax returns are […]
5 minute read
Taxes
Whenever you get a new job, you’re required to fill out a W4 form. Your answers will help your new employer figure out how much tax to withhold from your paycheck. They will send that money to the IRS on your behalf. In most cases, these withholdings will cover your tax liabilities. Especially once you […]
5 minute read
Taxes
You’ve probably heard the phrase before and wondered “what is tax liability?” Simply put, a tax liability is the total amount of tax owed by a person or company to the government. In short, it’s the amount of money owed to the “taxman.” Tax is owed for a lot of different reasons. It’s most commonly […]
5 minute read
Taxes
It’s that time of year again. The airwaves are once again full of commercials for tax relief services. They offer a promise to settle your back taxes — sometimes for just pennies on the dollar. I can still hear some of those catchy jingles in the back of my head. Maybe you can too. But […]
5 minute read
Taxes
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 […]
6 minute read
Taxes
Most of us set out to do our taxes with two specific goals in mind: try to pay as little we can to the IRS and maybe — if we’re super lucky — get a decent refund. Those are perfectly reasonable goals to aim for, but it’s not necessarily easy to recall (or even know […]
8 minute read
Taxes
You’d think that an activity we’re required to take part in every year might be old hand by a certain age. Shouldn’t we know all there is to know about filing taxes, especially since it’s a compulsory event in which we’re all obligated to take part? But then again, think about the homemade caramel rolls […]
8 minute read
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