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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.
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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?
State Tax Intersection Sign Highway

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

Each state can set its own tax rules that apply to its residents. If you’re thinking of relocating to a new state for a new job or a change of scenery, it’s worth it to consider the total tax burden in that state before you make a major move.
Tax Time Clock Alarm Board

Important Tax Due Dates & Deadlines – 2021 IRS Tax Calendar

April 15 isn’t the only important day on the tax calendar. There are a number of important tax deadlines throughout the year that may or may not impact you. This guide should help you stay on top of those deadlines in 2021 and avoid penalties and interest.
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7 Facts About U.S. Federal Income Taxes You Should Know –...

Taxes consume a lot of our money, and they’re a popular topic among politicians and economic analysts alike. Phrases like “marginal tax rate,” “universal basic income,” and “Medicare for All” are hot topics these days. But what do they mean? These quick tax facts will help keep you informed.
Tax Prep Software App Turbotax

What’s the Best Online Tax Prep Software? – TaxAct vs TurboTax...

TurboTax, TaxAct, and H&R Block have a similar set of core features and capabilities. That can make it challenging to differentiate among them at a glance. But there are differences. Before choosing one, learn how they stack up — and what’s new for the 2020 tax year.
Simple Ira Piggy Bank Marker

What Is a SIMPLE IRA and How Is It Different?

Small companies tend not to offer 401(k) plans, given the administrative costs and headaches associated with them. Fortunately, there’s a type of employer retirement account specifically for small businesses: the Savings Incentive Match Plan for Employees (SIMPLE IRA). Learn more about it here.
Tree With Houses Hanging Investment Property Growing Capital Gains

What Is a 1031 Exchange – Defer Taxes on Like-Kind Real...

Many real estate investors use 1031 exchanges to roll profits from rental properties into ever-larger income properties, never paying capital gains taxes until the day they sell off their portfolio. Find out what an 1031 exchange is and how it can let you defer paying taxes — perhaps indefinitely.
Pay Estimated Taxes Scrabble

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

Freelancers and small-business owners must pay estimated taxes four times a year. This may sound complicated, but it doesn’t have to be. We break down how to estimate your quarterly taxes, when to make payments, and what happens if you underpay.