Tax Laws

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What are Deductions, Credits, and Exemptions?

Three Key Tax Terms Explained

It is easy to lump deductions, credits, and exemptions into the same basket of tax-saving mechanisms, but they are distinctly different. One...

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Tax Laws Taxes Federal Income Taxes Tax Returns

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New W-4 Form Shows Craziness of Tax Program

Economic News you can Use

Simplification Creates Complexity Do you love getting a big tax refund? You shouldn't. You paid more than you owed and gave the governmen...

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Best And Worst States For The New Tax Law

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A Closer Look at the New Tax Law's Effects The Tax Cuts and Jobs Act (TCJA) promised an income tax cut for most Americans. Is that promis...

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Q&A

Asked by bgggirl

As a beneficiary of a life insurance policy will I have to pay taxes on the money?

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Answers 2

Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ

The short answer is no. However, if you receive interest on the proceeds, the interest is taxable.

Insurance Life Insurance Tax Laws Taxes

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Asked by Birdyt052

The IRS took my federal refund for a mistake that I made. Will they take my state also for the balance I owe?

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Answers 3

Answered by Paul Carson
Loan Officer in Conshohocken, PA

Do you have a CPA?

Tax Returns Tax Liens Tax Laws Taxes State Taxes Federal Income Taxes

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New Tax Laws Should Lower Your Audit Odds

What You Need to Know About Getting Audited Today

The recent Tax Cuts and Jobs Act (TCJA) represents one of the biggest changes to the tax code in many years. Will the Internal Revenue Servi...

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Considering An Investment Property? New Tax Law Means It's Time To Buy

By Ryan Coon, CEO and co-founder of Rentalutions While the unusually fast push-through of the Tax Cuts and Jobs Act raised eyebrows aro...

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Property Taxes Tax Returns Tax Laws Taxes

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Asked by an anonymous user

What's the easiest way to decide whether to file joint or separate tax returns as a married couple?

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Answers 1

Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ

When we prepare tax returns for couples, we routinely check to determine whether married filing jointly or separately is more beneficial. The process is to calculate ...

Tax Returns Tax Laws Taxes Federal Income Taxes

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Asked by vickicastro75

If you owe 2015 Federal taxes does the IRS take your state refund for 2015 to pay what you owe?

Answered by David Meyers
Financial Adviser in Palo Alto, CA

The IRS will not directly take your state refund - your state won't send the money to the IRS. The state will send you a check (or make a direct deposit). The IRS wi...

Tax Returns Tax Laws Taxes State Taxes Federal Income Taxes

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