taxes

Tax Planning Opportunities You Might Not Be Aware Of
tax planning

Tax Planning Opportunities You Might Not Be Aware Of

To save on taxes over all your years, not just right now, try these four different strategies.
September 29, 2021
I Contributed Too Much to an IRA – What Should I Do?
IRAs

I Contributed Too Much to an IRA – What Should I Do?

The rules on excess IRA contributions can be confusing. But if you act early, you can minimize any effect on your taxes.
September 28, 2021
Family Business Survival Strategies in an Era of Sweeping Tax Reform
tax planning

Family Business Survival Strategies in an Era of Sweeping Tax Reform

Changes to our nation’s income taxes, capital gains taxes and estate taxes – whether already passed or still in the proposal stage – pose massive chal…
September 28, 2021
Tax Relief Available for California Wildfire Victims
Tax Breaks

Tax Relief Available for California Wildfire Victims

Following FEMA's recent disaster declaration, residents and businesses impacted by the California wildfires get more time to file and pay taxes.
September 24, 2021
Tax Changes and Key Amounts for the 2021 Tax Year
tax law

Tax Changes and Key Amounts for the 2021 Tax Year

Americans are facing a long list of tax changes for the 2021 tax year. Smart taxpayers will start planning for them now.
September 23, 2021
How and When to Opt-Out of Monthly Child Tax Credit Payments
Tax Breaks

How and When to Opt-Out of Monthly Child Tax Credit Payments

If you want to stop advance payments of the 2021 child tax credit, you have to opt-out using the IRS's online tool before the monthly deadline.
September 22, 2021
Child Tax Credit 2021: How Much Will I Get? When Will Monthly Payments Arrive? And Other FAQs
Coronavirus and Your Money

Child Tax Credit 2021: How Much Will I Get? When Will Monthly Payments Arrive? And Other FAQs

People have lots of questions about the $3,000 or $3,600 child tax credit and the advance payments that the IRS is sending monthly to most families – …
September 22, 2021
How to Change Your Address for Monthly Child Tax Credit Payments
Tax Breaks

How to Change Your Address for Monthly Child Tax Credit Payments

If you're receiving paper checks in the mail for your child tax credit payment, you can use the IRS's online portal to update your address.
September 22, 2021
21 IRS Audit Red Flags
tax returns

21 IRS Audit Red Flags

These actions and tax positions could increase your chances of the IRS selecting your return for audit.
September 22, 2021
Child Tax Credit Payment Schedule for the Rest of 2021
Tax Breaks

Child Tax Credit Payment Schedule for the Rest of 2021

The IRS has already sent three batches of monthly child tax credit payments. Here's when you can expect the rest of your payments.
September 16, 2021
Estimated Tax Payments Are Due Today
tax deadline

Estimated Tax Payments Are Due Today

The deadline for submitting your third estimated tax payment of 2021 is here, so get your payments in today.
September 15, 2021
What Are the Income Tax Brackets for 2021 vs. 2020?
tax brackets

What Are the Income Tax Brackets for 2021 vs. 2020?

There are seven different federal income tax brackets for your 2021 tax return – each with its own marginal tax rate. Which bracket you end up in for …
September 14, 2021
When Are 2021 Estimated Tax Payments Due?
tax deadline

When Are 2021 Estimated Tax Payments Due?

If you're self-employed or don't have taxes withheld from other sources of taxable income, it's up to you to periodically pay the IRS by making estima…
September 14, 2021
The RMD Solution to the Hassle of Filing Estimated Taxes in Retirement
required minimum distributions (RMDs)

The RMD Solution to the Hassle of Filing Estimated Taxes in Retirement

If you don't need the money to live on, wait until December to take your RMD and ask the sponsor to withhold a big chunk for the IRS.
September 14, 2021
When Retirees Need to File an Amended Tax Return
tax returns

When Retirees Need to File an Amended Tax Return

Realizing that you made a mistake after filing your tax return can be panic-inducing for retirees (or anyone else). But don't stress. You may not need…
September 13, 2021
Are You Taking Advantage of the Current ‘Tax Holiday’?
tax planning

Are You Taking Advantage of the Current ‘Tax Holiday’?

The tax picture is scheduled to change in the not-too-distant future, so now is a good time to make some moves to capitalize.
September 12, 2021
COVID-19 Home Test Kits and PPE are Tax Deductible
Tax Breaks

COVID-19 Home Test Kits and PPE are Tax Deductible

You can also pay for home testing kits and personal protective equipment with FSA and HSA funds.
September 11, 2021
3 Ways to Avoid a Big Fat Tax Surprise in April
tax planning

3 Ways to Avoid a Big Fat Tax Surprise in April

High-earning executives getting stock awards and bonuses in 2021 need to be prepared for the tax bills that will come with them. Here’s how to head of…
September 2, 2021
10 Things Every Worker Needs to Know About the W-4 Form
W-4 form

10 Things Every Worker Needs to Know About the W-4 Form

Anyone who has started a new job will know about filling out a W-4 form. Your new boss will use that information to calculate how much tax to withhold…
August 31, 2021
The 10 Least Tax-Friendly States for Military Retirees
retirement

The 10 Least Tax-Friendly States for Military Retirees

Unfortunately, some states aren't very generous when it comes to helping retired veterans at tax time.
August 31, 2021
Tax-Smart Charitable Gifting Strategies
tax planning

Tax-Smart Charitable Gifting Strategies

Take advantage of the current tax rules to support the charities you care about and save on your taxes at the same time. Here are a couple of notewort…
August 29, 2021
Tax Deadlines Extended for Tennessee Flood Victims
Tax Breaks

Tax Deadlines Extended for Tennessee Flood Victims

Residents and businesses impacted by the recent storms and flooding in Tennessee get more time to file and pay certain federal taxes.
August 28, 2021
IRS Extends Tax Deadlines for Louisiana Storm Victims
Tax Breaks

IRS Extends Tax Deadlines for Louisiana Storm Victims

Following FEMA's recent disaster declaration for severe storms and flooding Louisiana, impacted taxpayers get more time to file and pay certain federa…
August 27, 2021
12 Questions Retirees Often Get Wrong About Taxes in Retirement
retirement

12 Questions Retirees Often Get Wrong About Taxes in Retirement

You worked hard to build your retirement nest egg. But do you know how to minimize taxes on your savings?
August 27, 2021
Cash-Rich States Lower Taxes
Tax Breaks

Cash-Rich States Lower Taxes

The economic turnaround sparked a wave of cuts in state tax rates. But some say the efforts could backfire.
August 27, 2021
Want to Pay 0% in Taxes? Here’s How
capital gains tax

Want to Pay 0% in Taxes? Here’s How

Investors and retirement savers have many tools at their disposal to whittle their incomes down to a point where capital gains are taxed at a 0% tax r…
August 23, 2021