Taxes

What to Do with Your Tax Refund: Spend or Save?

When you don’t procrastinate filing your taxes, now is when you get a tax refund for all that diligence. But what should someone do with this welcomed windfall? If there’s a light at the end of the tunnel during tax season, it’s definitely the refund. Here are four suggestions for how to spend or save. […]

Taxes

A Taxing Season: Say No To Procrastination

To procrastinators, April 18th is a long way off. Yet every year tax season sneaks up on them. Thankfully, there’s still time left. There’s no need to wait until the last minute again. But even with one extra day for the leap year, February remains the shortest month. The panic of April 17th is quickly […]

Taxes

Tax Considerations to Keep in Mind When Contributing to Your IRA or 401(k)

Even if your retirement is several years away, you need to keep all sorts of things in mind when planning for it: where you’ll want to live, whether you’ll rent or buy a new home, and how you’ll strategize your 401(k) and IRA contributions to come out ahead tax-wise. As always, you’ll want to talk […]

Taxes

What To Do if You’re a Victim of Identity Theft Tax Fraud

As you finish your 2012 taxes, consider this scenario: Your accountant tries to submit your return to the IRS…which proceeds to reject it. It turns out your return has already been filed, the tax agency explains. By someone else. Using your Social Security number. This is what happens when you’re a victim of identity theft […]

Taxes

4 Tax Considerations for People Over 65

When it comes to filing your taxes, the more you know, the better. After all, being familiar with your tax situation can earn you certain tax deductions – and sometimes even prevent you from getting audited. And if you’re over age 65, there are a few things in particular that you should know. Below are […]

Taxes

4 Tips to Help You Avoid Getting Audited at Tax-Time

Tax Day is Monday, April 15, which means many people are busy gathering their paperwork and preparing to file. While tax time can lead to certain financial benefits—like a refund that you can use to pay off debt or build an emergency fund—it can also lead to less pleasant things—like a potentially time-consuming audit by the […]

Taxes

Should You Be Filing Quarterly Estimated Taxes?

Most people enjoy the benefit of having their taxes automatically deducted from their paycheck by their employer. However, Moolanomy notes that if you’re a freelancer, small business owner or self-employed, you may be required to pay quarterly estimated taxes. The idea of filing taxes four times a year may sound unappealing, but, as a guest post […]

Taxes

Early Tax Preparation: Tips for an Easier Tax Day in 2013

Is summer too early to start thinking about next year’s taxes? Not according to some people – namely the IRS. The government bureau published a list of things you can do right now to make sure your 2013 tax season goes smoothly: Withhold Less If you’ve been getting big refunds in recent years, you may […]

Taxes

Smart Ways to Use $1,000 of Your Tax Refund

If you’re expecting a tax refund in 2012, chances are you’ve already thought about what you’re going to do with it. If you haven’t already made the mental commitment to spend it on something fun like a summer vacation or a new electronic gadget, you might want to think about the smart things you can […]

Taxes

April 17 is Tax Freedom Day – What That Means, and Why You Should Care

You already know that April 17, 2012, is America’s tax-filing day, but this year, April 17 marks another income-tax milestone: Tax Freedom Day®. That’s the date when the average American has theoretically earned enough to cover his or her tax burden for the entire year. Put another way: Every dollar you’ve earned from January 1 […]