Did You Know??? Itemized Deductions are NOT Just For Homeowners with Mortgages. The biggest question individuals have when preparing their tax returns is whether to take the Standard Deduction or claim the mysterious Itemized Deductions on the IRS form Schedule A. Here’s the info that can help you decide what will save you the most tax Read more about 5 Tax Savings Steps Using Itemized Deductions[…]
The short answer is… it’s never too early to start, but it’s also never too late to start. Starting The Emergency Fund As A Pre-Teenager It’s never too early for a young woman to begin to learn the value of money, how to earn it, and how to save it. They should begin to Read more about At What Age Should Women Begin To Create Their Emergency Fund?[…]
Your Emergency Fund is for that rainy day… While this seems to only make sense, you’d be surprised how many women don’t have an emergency fund. For some reason they don’t seem to think that they will need it, at least not soon. I’ve met too many women who wear those rose colored glasses and Read more about Why An Emergency Fund Is A Must For Every Woman’s Financial Fitness[…]
Did you know that once you file a tax return you have more time to claim additional refunds by filing an amended tax return? You may not have received documentation of a deduction by the filing deadline, or maybe you didn’t realize there was a deduction you were entitled to that you didn’t claim. Either Read more about Additional Refunds With Amended Tax Returns[…]
What Are Estimated Tax Payments? Some people don’t have to even think about what estimated payments are all about. They have their federal and state income taxes withheld by their employers, retirement payouts, and even Social Security benefits. However there are many who have no withholdings and face an excessive tax balance at the end Read more about Estimated Tax Payments – The Real Deal[…]
Have You Moved? Or Are You Planning To? If you recently moved into a new home, no matter the reason, it can be very disruptive. You have to change addresses for everything – banking and investment institutions, credit card companies, and so many other businesses. So who would even think about the IRS??? There’s great Read more about Tax Tip If You Moved Into A New Home[…]
You’re probably wondering, “Why wouldn’t I want a large tax refund?” Short Answer: You’ll have more cash in your wallet all year instead.,.. Consider this… Most people don’t want to give the government an interest free loan for more than a year. They’re holding your money hostage while you may be cutting corners to cover all Read more about Why You DON’T Want a Large Income Tax Refund[…]
Is Your Child STILL Your Dependent? In many cases people just assume their children are dependents. Sometimes they’re not. This dependency status also determines whether or not you can claim other deductions and tax credits, so it’s important to evaluate this correctly. There can be a lot of tax dollars at stake. The child you Read more about Child Tax Dependent Demystified[…]
The home office tax deduction can be tricky question and there is no short explanation. When you have your own business, there are many deductions that are cut and dry. This one is not. And there’s an IRS take back on this one if you use the original method. Most taxpayers are unaware of this, Read more about Self-Employed Home Office Tax Deduction[…]