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taxes

11 Tips on How and When to File an Amended Tax Return
tax returns

11 Tips on How and When to File an Amended Tax Return

What to do if you discover a mistake on a previous tax return (and other reasons for filing an amended return).
August 25, 2020
Deadline for Returning RMDs to Retirement Accounts is Approaching Fast
Coronavirus and Your Money

Deadline for Returning RMDs to Retirement Accounts is Approaching Fast

Retirees who took a required minimum distribution earlier this year need to act quickly if they want to avoid taxes on the money they withdrew.
August 24, 2020
Do You Qualify for a $300 Tax Deduction Under the CARES Act?
tax deductions

Do You Qualify for a $300 Tax Deduction Under the CARES Act?

What is the new above-the-line universal tax deduction, and how does it work?
August 23, 2020
Amending Your Tax Return Just Got Easier
tax returns

Amending Your Tax Return Just Got Easier

The IRS is now accepting electronically filed amended tax returns.
August 21, 2020
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Why You Need a Roth IRA
Roth IRAs

Why You Need a Roth IRA

With this indispensable savings tool, your money grows tax-free, you can invest in almost anything and you get several cool perks.
August 19, 2020
Millions of Americans Will Receive a Tax Refund Interest Check from the IRS
tax refunds

Millions of Americans Will Receive a Tax Refund Interest Check from the IRS

Payments will go to people who filed their tax return by July 15 and received a refund in the past three months or are still waiting for a refund.
August 18, 2020
Kamala Harris's Tax Policy Proposals
Politics

Kamala Harris's Tax Policy Proposals

Since she could be a heartbeat away from the presidency next year, you might want to know where Kamala Harris stands on taxes.
August 15, 2020
Stimulus Check Relief for Spouses of Deceased People is Coming
Coronavirus and Your Money

Stimulus Check Relief for Spouses of Deceased People is Coming

The IRS will be sending new stimulus checks to widows and widowers who didn't get their original payment.
August 15, 2020
Veterans with Children Get Second Chance for Extra $500 Stimulus Check
Coronavirus and Your Money

Veterans with Children Get Second Chance for Extra $500 Stimulus Check

The IRS set a new deadline for VA benefit recipients who didn't get an extra stimulus check payment for dependent children.
August 14, 2020
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Social Security Recipients Get More Time to Request Extra $500 Stimulus Check
Coronavirus and Your Money

Social Security Recipients Get More Time to Request Extra $500 Stimulus Check

The IRS is reopening the registration period for seniors who didn't receive the additional payment for dependent children earlier this year.
August 14, 2020
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The Lowdown on Capital Gains Tax Rates for 2020 and Beyond
Financial Planning

The Lowdown on Capital Gains Tax Rates for 2020 and Beyond

Rates for long-term capital gains are based on set income thresholds that are adjusted annually for inflation.
August 11, 2020
How a Second Stimulus Check Could Differ from Your First One
Tax Breaks

How a Second Stimulus Check Could Differ from Your First One

The HEROES Act, which the House passed in May, would authorize another round of stimulus checks. While the new payments would be similar to the first …
August 11, 2020
What a Payroll Tax Cut Would Mean for You
Tax Breaks

What a Payroll Tax Cut Would Mean for You

If Congress can't pass another stimulus bill, President Trump says he will initiate a payroll tax cut by executive order. How much would that save you…
August 8, 2020
Tax-Free Weekend Savings from August 7 to 9
Tax Breaks

Tax-Free Weekend Savings from August 7 to 9

Florida, Iowa, Maryland, Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Texas, and Virginia are holding (or starting) 2020 sales tax holidays t…
August 7, 2020
Did You Get a Tax Refund? 5 Smart Ideas on What to Do with It
tax refunds

Did You Get a Tax Refund? 5 Smart Ideas on What to Do with It

If you’re “average,” you might get close to $3,000 from Uncle Sam this tax season. Don’t let it burn a hole in your pocket.
August 5, 2020
Tax-Free Weekend Dates, States and Savings for Back-to-School Shopping
Tax Breaks

Tax-Free Weekend Dates, States and Savings for Back-to-School Shopping

Sales tax holidays are a great way to save money on clothes, shoes, backpacks, school supplies, and other back-to-school necessities.
August 4, 2020
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Sales Tax Holidays in 2020
Tax Breaks

Sales Tax Holidays in 2020

Sixteen states are having sales tax holidays this year. If you plan your shopping around these tax-free periods, you can save big on back-to-school cl…
August 4, 2020
Calculating Taxes on Social Security Benefits
social security

Calculating Taxes on Social Security Benefits

Uncle Sam can tax up to 85% of your Social Security benefits if you have other sources of income, such as earnings from work or withdrawals from tax-d…
August 4, 2020
Understanding Tax Planning
tax planning

Understanding Tax Planning

The importance of tax planning goes beyond keeping cash out of Uncle Sam’s hands. You’re also preparing yourself for a secure retirement. Here are a c…
August 3, 2020
5 Tips to Minimize Your Taxes in Retirement
tax planning

5 Tips to Minimize Your Taxes in Retirement

Don’t pay more than you have to. It all starts with a thorough understanding of the basics of how retirement income is taxed.
August 2, 2020
6 Money-Smart Ways to Spend Your Stimulus Check
Tax Breaks

6 Money-Smart Ways to Spend Your Stimulus Check

If you don't have to use your stimulus check for basic necessities, consider putting the money to work for you. You'll thank yourself later.
July 30, 2020
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New Family-Focused Stimulus Check Plan Introduced by Four Republican Senators
taxes

New Family-Focused Stimulus Check Plan Introduced by Four Republican Senators

The proposal from Senators Cassidy, Daines, Romney and Rubio would provide $1,000 payments to all American citizens, regardless of age or dependent st…
July 30, 2020
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Stimulus Check Smackdown: HEALS Act vs. HEROES Act
taxes

Stimulus Check Smackdown: HEALS Act vs. HEROES Act

Which stimulus check plan will come out on top: The lean and mean HEALS Act version, or the beefy HEROES Act challenger?
July 30, 2020
Second Stimulus Check Update: HEALS Act vs. CARES Act
taxes

Second Stimulus Check Update: HEALS Act vs. CARES Act

When compared to first-round payments, the new Republican stimulus check proposal expands and protects payments for some people, but it shuts the door…
July 29, 2020
Second Stimulus Check Update: Republican Plan to Include Next-Round Payments for Dependents
taxes

Second Stimulus Check Update: Republican Plan to Include Next-Round Payments for Dependents

If the HEALS Act is passed, some people would get a second-round stimulus check that is larger than the first check they received under the CARES Act.
July 28, 2020
3 Ways to Save on Your Tax Bill Going Forward
taxes

3 Ways to Save on Your Tax Bill Going Forward

The tax deadline was July 15 this year, and if you found yourself paying the IRS more than you’d like, it’s time to focus on tax planning. There are m…
July 27, 2020