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Home Improvement Wrench Green Grass

Green Energy Tax Credits for Home Improvement & Energy Efficiency

Minor efficiency upgrades are a fast, easy, and effective way to save money on utilities. But they don't permanently improve your home's ability to retain warm or cool air. Fortunately, these government tax credits and incentives can offset the cost of residential green energy projects.
Dividends Money Bag

IRS Tax Form 1099-DIV – How Are Dividends Taxed?

Many investors earn dividends from their portfolio. It’s important to understand the different types of dividends and what to expect in terms of paying taxes on them. Learn how different types of dividends are taxed and how to read the Form 1099-DIV tax form to be adequately prepared for tax day.
Self Employment Tax Cash Bills Form

How Much Is Self-Employment Tax & How Do You Pay It?

If you’ve ever been employed, you know about the Social Security and Medicare taxes your employer withholds from each paycheck. Self-employment taxes are the equivalent for the self-employed. Learn how much self-employment tax to expect, how to pay it, and how to reduce your self-employment taxes.
Side Hustle Clothing Pins Stable Sign

10 Ways a Side Gig or Business Can Impact Your Taxes

As a self-employed person or business owner, you get access to tax deductions and benefits not available to most employees. Here’s what you need to know about how a side gig changes your tax situation, often for the better.
Elderly Couple Calculator Tax Pennies Calculating Cost

Why Your Taxes Could Go Up in Retirement and How to...

Many people believe retirement means lower taxes. But just because you’re no longer earning a paycheck doesn’t mean the taxman's out of your life forever. And with major economic and demographic challenges on the horizon, it’s time to start laying the groundwork now for lower taxes in retirement.
Tax Benefits Real Estate Investment

Tax Benefits of Real Estate Investment Properties – IRS Rules Explained

There are many tax benefits to real estate investing. You can intentionally structure your real estate investments to minimize your taxes on multiple forms of income, including real estate profits. But before you dive in headfirst, ensure you understand which tax benefits you qualify for.
Tax Filing Mistakes

12 Common Tax Filing Mistakes & Errors and How to Correct...

There are many errors the IRS regularly encounters. They can cause your refund to be delayed by weeks or months as the IRS tries to sort out the answers. In some instances, you may even need to file an amended return. Be sure to double-check your returns for the following easily overlooked errors.
Tax The Rich Wealth Sign

Wealth Tax – What It Is, Pros & Cons of Current...

During the 2020 presidential primary, multiple candidates drew attention to the concept of a wealth tax. While wealth taxes can come in many forms, there’s a lot of misinformation and misunderstanding about them. Find out how they work and who they really impact.
Elderly Couple Tax Calculation Retirement Pennies

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

You must understand the tax implications of your retirement accounts so you know how much money you’ll have available when you need it. When you retire and start withdrawing money from your IRA and 401(k), the taxes you owe can take a big chunk out of your total. Learn what to expect here.
Tax Refund Magnifying Glass Post It

How Long Does It Take to Get My IRS Tax Refund?...

Eager to get your tax refund this year? No matter what you plan to spend it on, how and when you file can affect how fast your refund comes. So before you file your taxes, learn all about the IRS tax refund timelines and what you can do to get the cash in your hands when you need it.
Short Sale Foreclosure

Tax Implications & Consequences of a Short Sale or Foreclosure

Every year, a million homes enter foreclosure and many more people are forced to sell back to the bank for less than their home is worth. Foreclosures and short sales are bad enough, but few people consider the tax implications — until they file their tax return and realize the worst isn’t over.
Charitable Giving Money Dollars

How Tax Reform Affects Deductions for Charitable Giving This Year

It may be better to give than to receive, but receiving a tax break for their charitable giving is a good incentive for many taxpayers. And a new option to deduct some cash contributions without itemizing could encourage even more giving. Do you qualify?