Each year the number of tax returns that were submitted by e-filing has been increasing substantially. In 2001, about 30% were e-filed and in 2020, the number jumped to over 92%. Americans know if you file your taxes electronically, refunds arrive sooner.
There are 5 primary reasons why this technology has taken off and isn’t too far from the 100% goal set by the IRS View full post…
Those workers who are still working remotely, need to check your tax situation for 2021. It’s quite possible your tax situation may be a lot more complicated than last year. If you file your taxes yourself, you need to be aware of the state rules that may apply to you.
According to a recent survey, about View full post…
When I had enough income that required me to file a tax return, I used my family’s accountant. He was a local accountant, and certainly wasn’t cheap. Over the years, I stayed with this guy for convenience, and hadn’t even considered that maybe filing your own taxes would be better.
It wasn’t until I discovered a major View full post…
If you’re in the process of buying a home and waiting for settlement instructions from your title company, read on please. Maybe you’re still in the “looking for a home” phase…read on to avoid being a victim of the down payment scam.
To be perfectly honest, I have never heard View full post…
Tax time is not at the top of anyone’s bucket list for something enjoyable to do. But, the fact of the matter is, taxes have to be done, and on time. For a first-timer, it may seem a bit overwhelming to tackle this on your own. Once you understand the basics though, you’ll quickly discover that you can do your own tax without much effort. View full post…
With the massive loss of jobs due to the pandemic, many individuals joined the ranks of the self employed. They became known as gig workers such as an Uber driver, Instacart shoppers, delivering for Amazon, and many others. It meant you had to know how to do taxes when self employed, and these taxes became a little more complicated.
If you worked for an employer at their office, for instance, all required taxes were withheld from your pay and sent in to View full post…
If you’re a freelancer, or basically work for yourself, you’ll probably need to file an IRS Schedule C when tax time rolls around. This would include you folks that have a side gig, or maybe run a small business too. When you file taxes if self employed, you need to be aware of some of the tips that may save you time and your hard earned money.
We’ll cover who has to file a Schedule C – how it works – what it is, and what it does to your tax return. View full post…
Okay, we know you hate to budget because you think it will be too hard to follow. Maybe, but if you create a realistic and workable budget with goals, it really isn’t hard at all. We’ll cover 6 primary benefits of budgeting to show you what the results can be.
Making a budget is an important financial first step and cannot be View full post…
A very broad answer to this question is maybe. Before we go into an explanation as to when an inheritance may be taxable, let’s differentiate between an estate tax and a tax on inheritance. These are two separate and distinct types of tax that can sometimes be very confusing.
Think of this as a two-tier level of taxation. When someone dies, an estate tax may be levied on the total value of what he owned at the time of his death. This includes cash, investments, real estate, and anything not covered by these View full post…
More often than not, overspending is the result of impulse buying. This can, and usually does, lead to an increase in credit card debt. It’s a bad habit that can be hard to break, but it can be done, if you set your mind to it. To stop overspending, you must make a few changes in your lifestyle.
A part of the problem is the incessant advertising we see on television and even when browsing the internet. The temptation to buy a product that you don’t need can be hard to resist. This is especially true when the advertiser says View full post…
