If you have saved your whole life to build your retirement nest egg, the last thing you need is to hand over that hard-earned money in taxes.   Withdrawing too much of your retirement funds in a single year, living in a ‘high-tax’ area or not using all the available tax-advantaged investment options can lead [...]

  Tax season is here and by now, you should be ready to file. However, if you haven’t been very organized throughout the last year, there are chances that you will panic.   A little advice: Don’t panic. Take a deep breath and do everything in a calm and organized manner to avoid these common [...]

  A whopping 95% of married couples file jointly and for good reason. It is convenient and cheaper than filing separately. However, there are a few exceptions, where filing separately makes sense.   Having an Income-based Student Loan Income-based student loan payments are the key to AGI or adjusted gross income. In effect, your filing [...]

  Getting an e-mail from your boss, asking you to do something as soon as possible, can make you jump on the spot. So it comes as no surprise that scammers are now sending emails as CEO or some other top executive at the company and demanding a long list of W-2 files via PDF [...]

Tax season is here and it is no wonder that our work tables are piled high with tax-related paper work. With so many tax forms like Tax Form 1040, to file your personal taxes, or your W-2 Form from your employer, there are a number of different tax forms you might overlook.   Here are [...]

  Being self-employed comes with its own challenges and with the tax season upon us, it comes as no surprise that there is extra paper-work on your desk.   As a self-employed individual, keeping your records organized is the first step to breeze through the tax season. Keeping yourself updated about self employment deductions is [...]

Taking advantage of every possible deduction is highly beneficial, especially if you are short of money. Yet, a lot of such available different tax deductions go unclaimed by taxpayers due to lack of knowledge.   IRS allows itemized deductions and although a few deductions are known by taxpayers, there are still a number of forgotten [...]

 The Tax season is on and it comes as no surprise that you would want to be on top of everything. With taxes, the more you know, the better off you are.     Here is a list of things you must know about taxes.   Not Everyone Has to File a Federal Income Tax [...]

With tax day looming just ahead, it comes as no surprise that the number of phishing emails has surged as well. They are not only targeting individuals, by emailing as someone legitimate from your bank or Human resources department but are also targeting companies in hopes of acquiring personal information and Social Security Numbers of [...]

With the tax season on, it comes as no surprise that a number of scams and myths start swirling around. Here we take a look at some of the most common income tax myths and the right way to go about it.   Tax-Deductible Work Clothes Not all work clothes are tax-deductible. The only type [...]