Category: Tax Codes

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Is Tax-Loss Harvesting Right for You?
It should come to exactly no one’s surprise that investing comes with risk. It doesn’t matter what you’re investing in: stocks, real estate, bonds, or anything else under the Sun. All investments carry risk, and if you’re a seasoned investor,...
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What Are the Penalties for Missing the Tax Deadline?
With another Tax Day in the books, most Americans have turned their attention away from their tax woes. Now they’re thinking about other pressing issues, like the end of the school year, summer, and perhaps even how to spend that juicy tax return. ...
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You Missed the Tax Extension Deadline. What Now?
If you’re reading this, it’s too late. The tax deadline has come and gone—again. This time around, October 15 was the designated date for taxpayers to file their income taxes after filing for an extension back in April. You’re not alone: hund...
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Are You Going to Get Hit By a Surprise Tax Bill This Year?
Even if you’ve worked to get your taxes just right in previous years, changes in the tax law could mean big changes in what you owe even if your job and personal situation hasn’t changed. Here’s what to look out for. Did You Update ...
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How to Prep for Next Year Now – It’s More Than Saving Receipts
2018 is half over – are you thinking about next year’s filing? Well, you should be. You already know that most of the hassle is often due to time spent gathering documents, scratching your head to remember deductions, and other administrative pap...
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What to Do When Your Return Is Rejected
Filing your taxes can be a huge undertaking, even if your financial situation hasn’t changed much since last year, so submitting or mailing is often quite the stress relief. But what happens if the IRS rejects your return? Why does it get rejected?...
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The Newest Tax Scam: Small Business Identity Theft
About a dozen different kinds of scams are committed during tax season, and even throughout the year, all of which taxpayers should be well aware of. Often, these scams target individual taxpayers, especially vulnerable ones. The latest scam on the r...
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Three Reasons Your Withholding Could be Wrong After the Tax Changes
At the beginning of 2018, the IRS announced that it will not require employees to submit a new W-4 to adjust their withholding for the new tax law. Instead, the IRS sent out new withholding tables so that employers can automatically calculate new wit...
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Interest Rates On Taxes Are Increasing
As if you needed another reason to file your taxes on time and avoid penalties, the IRS announced that interest rates are increasing for the quarter that began April 1, 2018. The interest raise has more implications than just more money owed for over...
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Understanding Pre-Tax and Post-Tax Dollars
Many taxpayers assume all earnings, income, and benefits are taxed the same whether it’s now or later; it’s a bit more complicated than that, and some things are not taxed at all. Understanding the taxes of each component of your finances will al...
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