Personal Financial Advice from a former Certified Financial Planner
As June 2024 comes to a close Americans everywhere have stopped thinking about taxes, but the real key to paying less in taxes like the rich do is year-round tax planning. So, let’s do a quick overview of tax law in 2024 and how that will affect filing 2024 taxes …
What is the standard deduction amount for 2023 and 2024? The IRS updated the number and it’s a little bit higher this year. When filing income taxes, taxpayers can choose to either itemize tax deductions, or take the standard tax deduction amount. The IRS adjusts how much the standard deduction …
The tax tables for 2023, which determine the tax brackets for 2023, used by most people in Spring of 2024, while filing their 2023 taxes, have been set by the IRS. As always, there are seven different tax brackets based upon the taxpayer’s filing status. The different brackets are the …
Small business tax deductions are important in order to offset high business taxes levied against small business owners and entrepreneurs. This is especially true for work from home entrepreneurs who file as sole proprietors, or as a Limited Liability Company aka LLC, with sole proprietor tax status. Small business owners …
It’s Federal Income Tax Time, here in America. The due date for filing your income taxes, and the dreaded Form 1040 is, as usual, April 15th. (No extra days to file taxes in 2023. Those pesky Washington D.C. holidays have moved on to other days..) But, before you can file …
Tax Day is today. Hope you are ready! If you have already filed, there is one more piece of tax business you can attend to before you run off into your summer. Time to shred some old tax returns and documents. IRS Rule For How Long to Keep Taxes The …
If you can’t get your taxes filed on April 15, 2022, don’t worry! You get a few extra days this year, and you can always file for an extension. Normally, Tax Day is April 15th, However, Washington D.C. celebrates a legal holiday called Emancipation Day on April 15th this year, …
Patreon is a website that allows people to contribute funds to support the work of artists and creators. When you get money, do you have to pay taxes on Patreon? If so, what are the Patreon taxes for creators? Is Patreon tax deductible? Let’s start from the beginning. Is Patreon …
If you are thinking, how can I file my taxes for free, you might also be thinking that the IRS should offer a way to file taxes for free online. After all, how hard can it be to write a simple, free income tax preparation software, when you are the …
A quick reminder not to forget to use your HSA account to pay for ALL of your qualified medical expenses. Remember, you get the deduction based upon CONTRIBUTIONS, and your contributions do NOT have to be made before your expenses are incurred. In other words, if you go to the …