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Tax Breaks the Middle Class Can Claim

If you believe that tax breaks are for millionaires and companies with offshore subsidiaries you re probably paying too much to the IRS In recent years lawmakers have enacted dozens of tax incentives targeted at middle class families Taking full advantage of these tax breaks Source
Posted On 06 Feb 2017

5 Ways NOT to Gift to Children … and 5 Better Ideas

Giving to children can be a weakness We often want to help children actualize their financial goals and give them an easier life than we might have had However gifting to children can also be a disaster We all realize that many children are irresponsible with money do not have...
Posted On 02 Feb 2017

Determining the Best Way to Do Your Taxes

There may be a million ways to skin a cat, but there are only three ways to prepare your tax return: Bust out the calculator and fill out the paper forms yourself. Buy tax software that does the math and fills out the forms for you. Hire a tax professional to do the heavy...
Posted On 01 Feb 2017

How to Get Your Tax Refund Sooner

ANSWER The IRS started accepting 2016 tax returns on January 24 You can file your return as soon as you receive your W 2s 1099s and other documents needed for filing which usually must be sent to you by January 31 The IRS expects to issue about 90 of refunds in less than 21 days...
Posted On 01 Feb 2017

30 Ways to Prevent a Tax Audit

The thought of receiving an audit letter from the IRS probably sends shivers down your spine. But by avoiding foolish mistakes and taking the right steps now, you can minimize your risk of an IRS audit down the road. Click through to find out how you can prevent a tax audit and...
Posted On 30 Jan 2017

What Is The Penalty For Filing Taxes Late?

If you realize the day after Tax Day — or even a week later — that you’ve missed the filing deadline, you’re probably wondering what will happen. That answer depends on your personal circumstances. Check out these answers to frequently asked questions about IRS penalties to...
Posted On 30 Jan 2017

7 Ways to File Your Taxes for Free

Most do it yourself filers prepare their own taxes for one and only one reason They want to save money But tax software isn t cheap and hidden costs can sometimes blindside you You might be forced to upgrade to another product midway through your tax return or to pay extra to...
Posted On 30 Jan 2017

5 States With Rising Taxes

The buzz in the nation s capital is about cutting taxes but talk in many state capitals is focused on raising taxes to fund projects and close budget gaps We found five states where taxes are going up in 2017 The buzz in the nation s capital is about cutting taxes but talk in...
Posted On 25 Jan 2017

Know Before You File: Tax Breaks for 2017

It’s January, and that means the tax man is coming soon. Returns for the 2016 tax year are due by April 18. Most taxpayers won’t owe the Internal Revenue Service anything at filing time, however. IRS statistics show that the vast majority of taxpayers get refunds each year. That...
Posted On 24 Jan 2017

Taxes, Jobs and Investments: How Trumps Presidency Could Affect Your Wallet

Donald Trump (Shutterstock photo) So far, many Americans are loving the proposed Donald Trump tax plan. If you have any money in the U.S. stock market, either in your 401k or investment account, you’re probably already richer due to the end of year Trump bull market, aka, t...
Posted On 23 Jan 2017