Death and taxes may be the only two sure things in life, but you can at least get some wiggle room on your taxes. You can achieve breathing room on your taxes through tax deductions, which let you use certain expenses to lower your income and therefore your tax liability. The concept itself is quite … Read more
We get it — it’s hard to think about future stuff when you’re busy trying to hold it together one day at a time. If you’re facing unemployment, it can feel like you don’t even have today under control, let alone tomorrow. During this difficult time, your unemployment benefits are an absolute blessing, and we … Read more
When you are preparing to file your income taxes in 2021 for the 2020 tax year, it is important to be aware of your federal tax bracket. For 2020, there are seven tax brackets, and you may be taxed at different rates for different portions of your income. The bracket that applies to you depends … Read more
If you’re new to filing your taxes in the United States, you may be confused or uncertain about your next steps. Whether you’re starting out in the working world, always had your taxes handled by your family or are new in the country, there is a lot to learn about your annual income tax filing. … Read more
Everybody makes mistakes. But it’s easy to panic when the mistake you made was on your tax return. Fortunately, the IRS isn’t anywhere near as scary as people make them out to be. Yes, they will come after you if they suspect you’ve committed tax fraud. Other than that, however, they’re actually pretty easy to … Read more
When you get ready to prepare your taxes, you may be concerned about making a mistake or doing anything else that could trigger an IRS tax audit. While audits are perhaps less common than they were in prior years, the IRS continues to select tax returns each year for additional scrutiny and review. In many … Read more
The only two certainties in life are death and taxes, and when you go to file your taxes, you may start to prefer the former. Even if you thought you had this income tax thing down, it’s possible that COVID has changed your tax picture. Maybe you moved to a more rural area where COVID … Read more
COVID seems to have made everything more complicated, including a quick run to the grocery store or a visit to the gym for a workout. Unfortunately, taxes are no exception. Already confusing on the best of days, the Coronavirus and Coronavirus tax relief packages are further muddying the tax waters. Although COVID tax relief packages … Read more
The 2020 election is fast approaching, making now the time to educate yourself about the candidates and what they offer. You should, of course, do so at the federal, state and local levels, since all the layers of government play a role in your daily life. There’s no question, however, that this year all eyes … Read more
The official due date for federal taxes is Jul 15, 2020. If you are one of the people who has not filed yet, it is time to turn in your tax return. What Extensions Are Available? Sometimes, people can automatically get an extension on their taxes because of a natural disaster or a similar emergency. … Read more
