When it comes to 1040 online tax filing for free, what’s the catch? Have you heard all those commercials for free online tax filing? They puzzled me. How can those companies file taxes for people and charge nothing for their services? On top of that, those guys are paying good money to advertise those services. [...]
If you need IRS tax debt relief, you might need to know how to stop IRS wage garnishments. That’s because if you owe the IRS unpaid taxes, they can take a bite out of your wages. Of course, this doesn’t happen overnight. The IRS will send you letters for months before this will happen. That’s [...]
I’m putting my tax refund to work this year. What about you? You might have all kinds of plans. You might be thinking about buying some new appliances for the kitchen or maybe even taking that trip to visit family. But before you start making your vacation plans, consider the long-term impact of your decisions. [...]
Here’s a unique way for you to take money out of your retirement account without incurring an IRA withdrawal penalty. If you had a required minimum distribution but forgot to take it, you’re looking at some pretty hefty penalties. That’s right, the IRS will smack you with a 50% penalty if you missed the deadline. That’s [...]
Here’s a few important tax planning tips (and an important warning) if you’re an investor…especially if you own ETFs or mutual funds. First, you probably already know about tax loss harvesting. This is a well-known, year-end tax planning tip. If you’ve never heard about this, it’s a simple yet really important little tool you should [...]
Tuesday’s election results might lull you into thinking that taxes are going to be lowered immediately, but that’s not a sure bet. Actually, Federal tax rates are going to rise starting January 1 unless Congress acts before then. Many experts agree that the chances of that happening are lower than the Dutch Sandwich tax repeal! That [...]
This is a guest post about understanding taxes by Steve Cook. He is an associate at a boutique Phoenix, AZ-area tax law firm that handles various tax-related matters including estate planning, probate, business and real estate law. The firm operates a blog to which Steve regularly contributes. Many of us in the United States prepare [...]
You have a unique opportunity for significant capital gains tax relief – if you act quickly. It’s not complicated. You don’t have to become a financial planner to understand it. The following technique won’t work for everyone. But if you have loved ones (children, parents or others) who you want to assist, you have an [...]
If you need IRS tax debt relief, you may not have to hire a fancy pants CPA or tax attorney. Depending on the situation, you have a few alternatives you can try yourself. If you are successful, you may end up saving a pile of money and your credit score too. Offer in Compromise This can [...]
Converting a traditional IRA to a Roth IRA can have unintended tax consequences. Generally speaking, you have to pay tax on any money you convert into a Roth and you have to pay that tax the year you convert. You simply add it to your income and it will be taxed at your highest marginal [...]
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