Like anything tax-related, the home office tax deduction can get a bit complicated depending on your specific circumstances. There’s no shame in hiring a professional if you think it’s worth it, but with a little preparation, you may be able to tackle it yourself as long as there’s nothing wildly unusual about your situation.
Read MoreThere's a lot more to the process of selling a house than meets the eye. Selling your home can have a heap of benefits for you when it comes to saving money. But you have to know the right tips and trade tricks to capitalize on your home sale. Keep reading to find out how to do so.
Read MoreHow you deal with back taxes influences your finances a great deal. You need to avoid mistakes regarding back taxes. You also need to make adjustments regarding your finances.
Owing back taxes means you need to make adjustments to your earnings and tax-paying practices. Filing back taxes and paying your back taxes promptly is essential to healthy finances.
Read MoreMany people dread tax season because of the hard work and money it takes to do taxes. However, those individuals may not understand the array of benefits that they can get during tax season. Tax deductions are one of the great gifts that come with being or knowing a qualified tax professional.
Qualifying for the right tax deductions each year is almost like receiving a salary increase. Here's some information about the topic so that you can better understand deductions. You might be able to make them work well for you.
Read MoreIf you or someone you know has had to deal with being a beneficiary of a life insurance policy, then you have probably heard the question "Is life insurance taxable?" You may have even asked yourself "Is life insurance taxable?"
Unfortunately, the answer to that question is slightly complicated. Before diving into the answer to the question "Is life insurance taxable?", it is important to first look at how taxes work in the first place.
Read MoreJust like many things, income tax rates vary by state. The two main types of income tax rates are flat tax rate and a progressive tax rate. We will divide our lists up into these two main categories, so that you know where your state stands.
Read MoreThe Social Security tax is paid by both employees and employers to help fund the Social Security program. It’s collected in two different forms. The Federal Insurance Contributions Act mandates the payroll tax. The Self Employed Contributions Act mandates the self-employment tax. The tax pays for the disability, survivorship, and retirement benefits of millions of Americans every year.
Keep reading to find out more about this tax, whether you should be paying it and how it is beneficial to you.
Read MoreThe estate tax rate can be one of the highest tax rates. It starts at 37% and can get as high as 47%. This means it’s important to carefully plan if you want to avoid the government getting the bulk of your hard-earned assets.
Read MoreEvery year, millions of Americans get tax refunds when there are taxes due and they file their tax returns. Many people are expecting this money and want to know when it should come. The IRS will issue about 9 out of 10 refunds in less than 21 days. However, there are many different things that can delay your tax return and cause it to take even longer and need additional time.
Read MoreWhen you are unemployed, you may think that you don’t have to file taxes because you didn’t receive an income. However, it may still be beneficial for you to be thinking about filing taxes unemployed. When filing taxing unemployed, you may still qualify for certain tax breaks.
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