Personal Financial Advice from a former Certified Financial Planner
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 …
Every so often, tax loss harvesting seems to show up in various marketing literature like it was just invented. The funny part is that tax loss harvesting has been around for a very long time. In fact, it’s less important today than it was before Bush the Second cut long-term …
As January 2022 comes to a close Americans everywhere will be receiving W-2 Forms, 1099 forms, and others depending upon their specific financial situation and income scenarios for 2022. So, let’s do a quick overview of tax law in 2022 and how that will affect filing 2022 taxes in 2023. …
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, …
Colorado Income Tax Is Easy These days, the major tax preparation software companies, like Turbo Tax and Tax Cut offer people with easier federal income taxes a way to file for free. They do this for two reasons. First, and foremost, despite the millions of dollars they spend lobbying to …
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 …
When you file your 2022 taxes in 2023, you may get a tax credit for each child. The Child Tax Credit for 2022 is $2,000 for each qualifying child. However, the Child Tax Credit phases out for higher incomes. You can claim the Child Tax Credit in addition to the …
Has it really been five years since Credit Karma started Credit Karma Tax? Credit Karma tax is a free-ish way to file your taxes for free. While Credit Karma tax started out with some bumps it is now old enough to have chased out a lot of the bugs. And …
What is the standard deduction amount for 2022 and 2021? 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 …
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 …
