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.
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 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.
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.
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.
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.
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.
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.
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 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.
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.
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.
