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The cost of health care has been rising faster than inflation for the past several decades, and it doesn’t show any signs of slowing down. This unfortunate trend may leave you wondering if you have any recourse to save money…
Dec. 25 and April 15 are two of the most memorable dates on the American calendar. The first is the eagerly anticipated culmination of a joyful season of celebration, gift-giving, and general goodwill. The second date — the day we…
Each year, the Internal Revenue Service issues income tax refunds to millions of taxpayers. But not everyone is lucky enough to get a check or direct deposit from the United States Department of the Treasury. Some people owe additional tax,…
Government benefits such as unemployment, Social Security, and disability are part of a social safety net – a network of programs aimed at helping protect Americans from poverty and financial hardship. When you lose a job, need additional income during retirement,…
You know you need to take steps to keep your credit card numbers and Social Security number from falling into the wrong hands. Do you know thieves also want to steal your federal income tax return? Or, more precisely, your…
If you pay for day care, you may be eligible for a tax credit to offset some of your federal income tax bill. This credit applies to qualifying children who were under the age of 13 when the care was…
When most people think of claiming a dependent on a tax return, they think of a child who lives with them. Historically, the Internal Revenue Code (IRS) has allowed taxpayers to claim a “personal exemption” for themselves as well as…
In an effort to help make filing taxes easier this year, we are breaking down the various IRS tax forms to help you know if you need them, and how to use them. If you’re a freelancer or run a…
During tax season, do you spend hours or even days wrestling with old receipts, canceled checks, W-2 forms, 1099s, and statements from your banks, credit card companies, and mortgage company, trying to document every possible deduction and lower your federal…
Farming isn’t just about managing crops and livestock. Like any other business, it also involves paying federal income tax. Farms that operate as sole proprietors, trusts, partnerships, limited liability companies (LLCs), and S corporations use Schedule F to report their farming income and…
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