New Tax Scams – Beware of IRS Phishing Text Messages At one time or another, many of us have received e-mails from the IRS asking to verify our tax information, but that’s just the tip of the iceberg. Con artists, mostly from foreign countries, have set their sites on the US tax system. We now need to be wary of automated calls and various types […]
Military Members Taxes Online Can be Done at $25- Includes Federal and State Taxes can be complicated and daunting for anyone, let alone military members who may not have a lot of experience with taxes. They’re also probably pretty busy just trying to take care of their own personal finances, as well as taking care of the needs of their family. We offer the best […]
How does the sin tax affect you? If we were to define sin tax, we would say this particular tax applies to goods or services that are harmful to society. Some examples of such goods include alcohol, tobacco, drugs, gambling, and pornography. Many states are considering adding other products that will be subject to the tax, such as sugar, soft drinks, and candies. This tax […]
5 Word Golden Rule in Personal Finance Planning Most of us are familiar with the biblical golden rule, but did you know there is also a golden rule in personal finance? This one is so simple that it defies human logic. So many people have a hard time understanding, or maybe they don’t want to. But common sense gives us this golden rule. Are you […]
How to Make a Hobby into a Business – The Ultimate Guide Have you ever wondered how to turn a hobby into a profitable business? It’s possible to make a little extra money while doing something you love. The key is to figure out what your audience wants and build a platform to sell it. Alternatively, you can simply turn your hobby into a service […]
Which of these 5 options is the Best Way to File Your Own Taxes? You may be wondering, what is the best way for filing your taxes? We’ll show you several options and the one we recommend for you to consider. Basically, these are the 5 options: Mail, online tax filing site, e-file using IRS fillable forms, a tax app, and a tax professional. If […]
Charitable Contribution of Appreciated Property – 7 Strategies Charitable giving can not only reduce your taxes, but it also makes a positive impression on the philanthropic world. This is how charitable giving works. You can lower your taxes by doing your own taxes online and claiming the amount as a deduction. This will allow you to do good deeds for others. Giving to charity can […]
What is Tax Aware Investing: Why It Matters and Where You Can Find Help With traditional tax-advantaged vehicles like the 401(k), 403(b) and Traditional IRA, there’s a lot to consider when it comes to setting up your personal finance strategy. What is tax aware investing? With tax aware investments, investors can make sure they’re getting the most savings from their investments while still tracking their […]
How Community Property Rules Affect Your Federal Tax Return Spouses will need to compute their income and deductions using the rules for jointly held property. Nine states have community-property laws, which govern how married couples share their asset and income. These states include Arizona, California Idaho, Louisiana Nevada, New Mexico Texas, Washington and Wisconsin. Alaskan, Tennessee and South Dakota residents can opt in to community […]
Tax Deductions for Airbnb Hosts: How to Take It There are plenty of tax benefits for Airbnb hosts as well as a few disadvantages. You can make some money by renting out your house or apartment when you’re away from home, meet new people from all over the world, and it’s an easy way to help pay your bills if you live in an expensive […]
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