Taxes

10 Common Millennial Tax Mistakes to Avoid Making

10 Common Millennial Tax Mistakes to Avoid Making

Doing your taxes is certainly not the easiest thing you’re likely to tackle this year. For Millennials, this can be increasingly more difficult. That’s because filing a return may be something brand new and unfamiliar. Additionally, the IRS tax code is hardly a walk in the park for the uninitiated. That is why it’s so important to be aware of […]






by March 16, 2017 0 comments Taxes
How Do Investment Losses and Gains Affect Your Taxes?

How Do Investment Losses and Gains Affect Your Taxes?

Investing involves risk. Everyone knows that. However, it’s not just your principal at risk. Any gains or losses that you may incur on an asset could also have serious consequences when it comes to your taxes. Ownership of capital assets brings a number of implications come tax time. Knowing what they are might have some influence in your investment strategies […]






by March 15, 2017 0 comments Taxes
New Baby? Commonly Overlooked Tax Breaks for New Parents

New Baby? Commonly Overlooked Tax Breaks for New Parents

New parents have a lot to think about now that their bundle of joy has come home. With so much on weighing on their minds, the complexities of the IRS tax laws are probably the last thing they are worried about. Yet, when tax time comes around, parents have a variety of ways in which they can save on their […]






by February 17, 2017 0 comments Taxes
Managing Your Self-Employment Deductions

Managing Your Self-Employment Deductions

It’s the dream of millions of Americans, and one that has come true for many of us: Self-employment. Perhaps you can claim yourself among this ever-growing segment of the population, and you’re enjoying the freedom and empowerment that come with working for yourself. However, the dream can turn into a nightmare when tax times comes around. The IRS has very […]






by February 16, 2017 0 comments Taxes
Comparison of the Best Online Tax Software

Comparison of the Best Online Tax Software

Tax time is just around the corner. Taxpayers are looking for ways to make this annual event go by smoothly and as painlessly as possible. Taxes can be tough to figure out. Some people planning to do their taxes on their own may be filing a very simple return, while others might be misguided as to the extent of their […]






by February 15, 2017 0 comments Taxes
Medical Expenses: What’s Deductible and What’s not?

Medical Expenses: What’s Deductible and What’s not?

Medical expenses can be a serious drain on your wallet, whether or not you have insurance. So the IRS offers a long list of expenses that you are allowed to write off as a deduction from your taxes. These types of expenses are generally spent on the cost to diagnose, prevent, treat, mitigate or cure an illness or some other […]






by February 14, 2017 0 comments Taxes
Common Tax Audit Triggers to Avoid

Common Tax Audit Triggers to Avoid

No one loves doing their taxes. However, it is a necessity that we all must endure. Getting audited can make it all worse. If you’re the target of an IRS inquiry, you can be facing months of scrutiny and extra paperwork. Perhaps, even a higher tax bill when all is said and done. Yet, it does not have to be […]






by February 9, 2017 0 comments Taxes
Major Life Changes That Affect Your Taxes

Major Life Changes That Affect Your Taxes

There is a whole range of major life changes that can have an impact on your taxes. Getting married, getting divorced, having kids, even changing jobs bring significant complications to the way you do your taxes. These adjustments are going to be predicated upon the particular developments that take place in your life. Maybe you are saving for your college […]






by February 8, 2017 0 comments Taxes
Everything You Need to Know About the Saver’s Tax Credit

Everything You Need to Know About the Saver’s Tax Credit

Taxpayers who are funding a retirement savings vehicle have a couple of ways to benefit from those contributions. They can claim the deductions that are applicable. They can also take an additional credit called the Qualified Retirement Savings Contributions Credit (also known as The Saver’s Credit). It was designed and implemented for lower and middle-income Americans. It was created to […]






by February 7, 2017 0 comments Taxes
6 Ways to Reduce Your Chances of a Tax Audit

6 Ways to Reduce Your Chances of a Tax Audit

Tax time is tough enough without having an audit to deal with after you submit your return. Yet, the truth is that you can never safeguard yourself against an audit entirely. That is true whether it’s a business or an individual return. However, there are precautions that you can implement to put your best foot forward with the IRS. You […]






by February 6, 2017 0 comments Taxes