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Seven small business tax deductions you need to know
Dec 17,2021
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How to file your taxes if your partner passed away
Dec 16,2021
The passing of one's partner has many financial implications. In the short term, you're left with funeral expenses, life insurance issues, sorting your loved one's possessions, and dealing with any assets. As the new calendar year approaches, another...
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What to do if a tax document arrives after you've filed
Dec 16,2021
In early 2019, I thought all of my tax documents had arrived in the mail, so I sat down to file my taxes in early March. Everything looked great, so I submitted my return to the IRS and went on about my merry business. In early April, however, an une...
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To itemize or not to itemize? That is the question
Dec 15,2021
Misconceptions can easily happen when it comes to filing taxes, but some aspects of income tax preparation have more than their fair share of misunderstandings. The largest breeding ground for misconceptions? Discrepancies over rules: The actual IRS ...
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Tax identity theft: How to protect your credit and finances
Dec 14,2021
Tax-related identity theft is a persistent problem in the US. In fact, the IRS's Criminal Investigation Division reported that it identified$2.3 billion in tax fraud in fiscal year 2020, with the fraud ranging from cyber crimes to tax-related identit...
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Here's how 2021 tax brackets actually work
Dec 14,2021
Tax brackets are one of the most commonly misunderstood aspects of taxes in America. News reports about taxes often do little to clear up those misunderstandings, sometimes making it seem that people are going to owe a much larger portion of their in...
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Why you shouldn't fear higher tax brackets
Dec 13,2021
For many wealthy taxpayers, news about higher tax brackets can bring feelings of anxiety. A high tax bracket often implies that a person making a good income will pay a large amount of their income in taxes. That's misleading for two reasons. First,...
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What to do with your tax refund
Dec 13,2021
As the tax filing season approaches, many people are looking forward to getting their tax return filed so they can get that long-awaited tax refund. That payment from the IRS comes with a big question: What should I do with my tax refund? Another equ...
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What do 'pre-tax' and 'post-tax' mean? And why should you care?
Dec 10,2021
Almost every article you read about retirement savings mentions the terms "pre-tax" and "post-tax" savings, often referencing them with no explanation of what they mean or why they're important. So let's start from the beginning and work through what...
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5 ways you're asking for an IRS audit this tax season
Dec 10,2021
What's the scariest phrase in the English language? At this time of year, many would argue it's "IRS audit."  Before you get too frightened, take heart: Although the likelihood of an audit significantly increases as income grows, a majority of A...
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6 common tax misunderstandings explained
Dec 10,2021
Income taxes are one of the cornerstones of modern life. We all have to deal with them, we sometimes stumble on them, but they're a fixed part of the path we're all walking in our financial journey.  A big reason why income taxes are a challenge...
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Can the Saver's Credit save you money on your taxes?
Dec 09,2021
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