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Home Authors Posts by Janet Berry-Johnson

Janet Berry-Johnson

Janet Berry-Johnson is a Certified Public Accountant. Before leaving the accounting world to focus on freelance writing, she specialized in income tax consulting and compliance for individuals and small businesses. She lives in Omaha, Nebraska with her husband and son and their rescue dog, Dexter.
Business Meeting Numbers Checkup

15-Step Yearly Checkup for Your Small Business – Are You on Track?

You visit your doctor every year for a checkup, take your car in for regular maintenance, and schedule a service call in autumn before turning on your furnace, but when was the last time...
Charitable Giving Tax Deductions Money Bills

Tax Deductions for Charitable Contributions & Donations

Generally speaking, Americans are a generous lot. According to the National Philanthropic Trust, Americans gave $427.71 billion to charities in 2018. Perhaps one motivation for being generous is that qualified charitable contributions are deductible...
Pay Estimated Taxes Scrabble

How to Pay Federal Estimated Taxes Online to the IRS in 2020

It often seems traditional employees get the better part of the deal when it comes to paying taxes. Some money is withheld from their check each pay period, so all they have to do...
Child Care Money

Child & Dependent Care Tax Credit – Deductions for Child Care Expenses

If you pay for day care, you may be eligible for a tax credit to offset some of your tax bill. This credit applies to qualifying children who were under the age of 13...
Gift Tax Rate Rules Exclusion Limit

What Is the Gift Tax – IRS Rules, Rate & Maximum Exclusion Limit

Some people believe that when it comes to gifts, giving cash shows a lack of thoughtfulness. But as anyone who's ever received a horrible gift knows, many gifts are simply a waste of time...
Charitable Giving Money Dollars

How Tax Reform Affects Deductions for Charitable Giving This Year

It may be better to give than to receive, but for many taxpayers, receiving a tax break for their charitable giving is a good incentive. Charitable donations stand at an all-time high, but new tax policies may be threatening people's desire to give. As with most tax deductions, there are a lot of rules and limitations you need to be aware of if you want to stay generous without overpaying Uncle Sam.
Tax Deadline Calculator

What Happens If You Miss the Tax Deadline? – Penalties for Filing Late

If you missed the tax deadline, you're likely very concerned about fees, penalties, and how to file your taxes late. The good news is that it can happen to anyone, for a variety of reasons, and you can still get back on track. Here is some advice for doing just that, whether you’re owed a refund or you owe tax to the IRS.
Elderly Couple Tax Calculation Retirement Pennies

Taxes on Retirement Accounts – IRA & 401(k) Distributions & Withdrawals

When your retirement accounts are growing, it's great to see the numbers climb. But when you retire and start withdrawing money from your IRA and 401(k), the taxes you owe can take a surprisingly big...
Child Tax Credit Wooden Silhouettes Of Family Calculator Post It

Claiming the Child Tax Credit – Everything You Need to Know in 2020

Raising a child isn't cheap. According to the United States Department of Agriculture, the price tag for a child born in 2015 is about $233,610 from birth through age 17 for a middle-income family....
Uncle Sam Steal Wallet

4 Reasons the IRS Can Seize Your Income Tax Refund Money for Debt

If you recently filed your tax return and were expecting a nice, fat refund check, you might be shocked to check the refund status and discover it's no longer coming. There are several situations in which...
Earned Income Tax Credit Street Concrete Paint

What Is the Earned Income Tax Credit (EITC) – Requirements & Eligibility

Taxes are a burden for everyone, but especially for low-income individuals and families who need to hang onto as much money as possible. The federal income tax is a progressive tax system, meaning high-income taxpayers pay...
State Tax Intersection Sign Highway

State Tax Rates Comparison – Property, Sales, Income & Social Security Tax

When it comes to your federal income taxes, you pay the same rate no matter where you live, but each state - and sometimes locality - can set its own tax rules that apply...