As efforts to flatten the contagion curve of coronavirus close businesses and schools across the country, many people are watching their paychecks disappear, their investments fall, and their sense of security slip away. The IRS is aware of the intense effect the coronavirus is having on families, and to help; the agency has ... Read More
Filing Taxes
Do My Own Taxes or Pay a Professional? How to Choose
Should you do your own tax return or pay a professional to help you? The answer varies for everyone. If you have an easy tax situation, you can save money by handling your own return, but in other cases, a professional is well worth the investment because they can help reduce your tax liability, increase your refund, or save you ... Read More
Do I Need to File Taxes? Minimum Income Required for Filing
Tax returns for 2017 are due on Tuesday, April 17, 2018. Do you need to file a tax return? It depends on your income, age, filing status, and a few other factors. Generally, if you earned more than the standard deduction plus one exemption, you need to file, but here are the specifics. Need to File a Tax Return If you are in ... Read More
Owe Taxes with a 401K Withdrawal
As you know, there are many tax benefits of contributing to a 401K. With this in mind, you should also know how the withdrawal process works, when you can get your money, penalties that may arise, and how to pay back the IRS if you find that you owe more in taxes than you can handle. The biggest benefit of a 401K is that you do ... Read More
Filing US Tax Returns & Resolving IRS Issues If Overseas or Abroad
Many people believe that a US citizen gets a free pass if he/she works outside of the US. However, whether you are working in the United States or you are overseas, you generally have to file a US tax return being that you are still a US citizen. The amount of money you made, your filing status, and age all play a part in ... Read More
Miss the October 15th Filing Deadline? How to File After the Deadline
If you requested an extension to the April 15 deadline (4/17 in 2012 & 4/18 in 2011), you have until October 15 to file your return. While not ideal, some people miss the second deadline and find themselves in a compromising position. With this in mind, you should still remember that filing after October 15 (10/17 in 2011) ... Read More
4 Ways to Get Your 2014 Tax Return Prepared for Free
April 15th is still a few months away but it's not too early to think about getting your taxes done. If you've got a fairly simple return, you might be comfortable doing it yourself but when your filing is a little more complicated, it's probably time to call in professional help. Hiring an accountant or another tax specialist ... Read More
Worst Ways to Spend Your Tax Refund
If you're looking forward to getting a fat tax refund check this year, you need to think carefully about how you plan to spend it. While there are plenty of smart things you could do with the extra cash, like paying down liability or making some much-needed home improvements, it's all too easy to let the money slip through your ... Read More
3 Smart Strategies for Boosting Your 2013 Tax Refund
Tax time is here and for millions of Americans that means a little extra cash in the form of a refund. The average refund is right around $3,000 but how much money you'll actually get back depends on your income, what tax credits you qualify for and what expenses you're able to deduct. Taking advantage of every tax break you can ... Read More
Top 5 Reasons to File Your Taxes Early
Tax season has just begun but the April 15th filing deadline will be here before you know it. The IRS is set to begin processing returns beginning January 31st so now's the time to start getting your paperwork together. If you normally wait until the last minute to file, you could be creating some extra hassle and headaches for ... Read More
3 Things You Need to Know About the October 15th Tax Filing Deadline
For most Americans, tax day usually falls on April 15th but extensions are available for people who need more time to file. According to the IRS, approximately 12 million taxpayers requested an extension this year, giving them an additional six months to get their paperwork in order. With the October 15th filing deadline right ... Read More
Love and Marriage and Taxes: Filing Tips for Newlyweds
Summertime means longer days, warmer weather and of course, the peak of the wedding season. For many newlyweds, getting married means joining households and combining finances for the first time. Saying "I Do" can have a major impact on how you manage your money, including how you file your taxes. If you and your significant ... Read More
