Should We Files Taxes Jointly or Separately? Married couples have two options for filing taxes. They can either file taxes jointly or separately. There are advantages and disadvantages to both. In this article, we will go over the differences between filing jointly or separately. Reasons to File Jointly There are a few different reasons [...]
7 Reasons Why Your Tax Refund May Be Delayed How long does it take to get a tax refund? If you efiled and requested a direct deposit you should receive your refund within 21 days. When you efile and request a check it can take up to a month. If you paper file, it [...]
Are Teen Subject to Income Taxes? Are teens subject to income taxes? It will depend on their income level and dependency status. It is important to know when they are expected to pay income taxes and how to do so. In this article, we will cover the basics of whether or not teens are [...]
Filing an Extension Filing an extension is asking the IRS for additional time to file your tax return. It extends the due date of your taxes from April 15th until October 15th. In this article, we will go over when and when not to file an extension, who qualifies, the benefits of filing an [...]
10 Tax Filing Mistakes Tax filing mistakes can cost you money. Whether that is missing out on a large refund or owing more in taxes. There are 10 tax filing mistakes we will review so you can avoid them when completing your taxes. 1. Basic Mistakes Many mistakes are simple. For example, misspelling names [...]
Earned Income Tax Credit The earned income tax credit is a refundable tax credit for low to moderate income families. In this article, we will go over the basics of the earned income tax credit. Who Can File To be able to file for the earned income tax credit, you must have made at [...]
Filing Taxes for a Family Filing taxes for a family can be complex. There are many variables that need to be taken into consideration. In this article, we will go over some of the variables involved when filing taxes for a family. Filing Status You have five filing statuses to choose from. Which one [...]
Home Sales and Taxation Home sales and taxation go hand in hand. Fortunately, there are ways to reduce capital gains on your home sale and reduce taxes. In this article, we will go over secrets to home sales and taxation. Exclusions Under the Taxpayer Relief Act of 1997 there are exclusions that help reduce [...]
6 Taxes Retirees Face As you age, you need to factor in tax planning. There are forms of taxes you will face in retirement that you did not previously have to worry about. In this article, we will go over 7 taxes retirees face. 1. Social Security Taxes If you are still receiving income [...]
Annuity Taxation Annuity taxation will depend on what type of money you used to fund the annuity, pre-tax or post-tax. This is known as qualified or non-qualified. In this article, we will go over how both types of annuities are taxed. Qualified Qualified means that the annuity has been funded with pre-tax money. These [...]
