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Trumps Tax Plan: Big Changes, Big Unknowns

President Donald Trump proposed big changes to the U.S. tax system on the campaign trail, but Wednesday’s announcement of the White House’s new tax plan may mark the start of where the rubber meets the road for many Americans and their tax bills. What does it mean for y...
Posted On 28 Apr 2017

Making Next Years Taxes Less Painful

Ah tax time The one time each year when we are all forced to look our finances in the face Rarely fun Ah tax time The one time each year when we are all forced to look our finances in the face Rarely fun SEE ALSO 6 Tax Efficient Strategies to Keep More of Your Money in Retirement...
Posted On 24 Apr 2017

How Long Should You Keep Tax Records?

It s a good idea to keep your tax returns indefinitely You can usually toss supporting documents three years after the filing deadline The IRS generally has to initiate an audit by then But there are exceptions Some tax experts recommend holding on to your records for at least...
Posted On 20 Apr 2017

Tax Day Musings: Why HR Block (HRB) Is A Stock To Avoid

In case you missed it, today is tax day! If you are only too aware of that fact, the chances are that, like me, this is also the day when you write a check to Uncle Sam. Human nature dictates that most of those whose tax returns result in a refund will have filed as soon as their...
Posted On 19 Apr 2017

How Long Should You Keep Your Tax Records?

If you think your tax work is done once you file your return, think again. Now you need to file your tax records. Keeping your tax returns and the documents you used to complete them obviously is critical if you’re ever audited . The statute of limitations on IRS audits is a key...
Posted On 19 Apr 2017

3 Smart Ways to Spend Your Tax Refund

The average tax refund is around 3 000 If you find yourself sitting on a pile of cash courtesy of your 1040 resist the urge to treat it like play money Instead put the windfall to work for you The average tax refund is around 3 000 If you find yourself sitting on a pile of cash...
Posted On 19 Apr 2017

How to Appeal Your Property Tax Bill

Home values have risen across the country which means many homeowners property taxes are going up too The average annual property tax for owner occupied single family homes nationwide in 2016 was 3 658 an effective tax rate of 1 21 according to Attom Data Solutions Nine Source
Posted On 19 Apr 2017

Why You Should Invest Your Tax Refund in a Roth IRA

The typical tax refund is about 3 000 Instead of blowing yours on Longchamp luggage or a trip to Vegas you ll ultimately be better off putting the money in a Roth IRA The typical tax refund is about 3 000 Instead of blowing yours on Longchamp luggage or a trip to Vegas you ll...
Posted On 19 Apr 2017

When Is Tax Day 2017?

If you re a last minute filer 2017 offers you some extra relief Tax day will be April 18 2017 three days after the traditional April 15 tax deadline If you re a last minute filer 2017 offers you some extra relief Tax day will be April 18 2017 three days after the traditional...
Posted On 17 Apr 2017

Cant Decide What to Do With Your Refund? Split It

For many people, getting a tax refund is like getting a handful of sand: It’s virtually impossible to hang on to much of it. But it doesn’t have to be that way. You can have the IRS split your refund across a number of accounts, perhaps some less accessible than your checking...
Posted On 13 Apr 2017