Taxes

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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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Tax Returns Taxes Tax Laws Jobs

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How To Get Tax Liens Off Your Credit Report

Raise your Credit Score with These Steps

Tax liens are claims made on your property by a government entity for failure to pay your taxes. A lien doesn't mean your property will be s...

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Credit Rating Borrowing Tax Liens Taxes

Q&A

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 Taxes Tax Laws Federal Income Taxes

Q&A

Asked by an anonymous user

I inherited my parents home where we were living, it is paid off. I need to get a home equity loan but my credit score is 547.

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Answers 3

Answered by Mark Haynie
Mortgage Broker in Los Angeles, CA

Unfortunately, the 547 score is a lower score than any lender will consider. I recommend that you consult with a professional in the credit repair business and develo...

Credit Rating Home Equity Loans & Line Of Credit Borrowing Taxes

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How To Pay Your Taxes

Pay Taxes With Cash, Credit Cards, Installments, and More

Let's assume that you drew the short straw on the 2018 tax cuts, and you owe Uncle Sam this year. How do you plan to pay? There are plenty o...

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Tax Returns Taxes Federal Income Taxes

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Ways To Avoid The SALT Tax Cap

Save Despite the New Tax Laws

One of the most controversial provisions of the 2017 Tax Cuts and Jobs Act (TCJA) was the limit it placed on state and local tax (SALT) dedu...

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Property Taxes Tax Returns Taxes Local Taxes

Q&A

Asked by Mary

Our independent student son is returning to school. If we make him owner of some of our existing 529 funds, will we be subject to gift tax?

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Answers 1

Answered by Kim Miller PRO+
CFP® in Redmond, WA

Hi - The annual gift tax exclusion allows you to give $14,000 per year to any one person without filing a gift tax return. A married couple who "join" in the gift ca...

College Funds (529 Plan) Other Taxes Investing & Retiring Taxes

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Asked by victor piediscalzo

I am 51 years old and have nothing for retirement. I put 100.00 a week in my savings and have about $10k now. What can i do for more interest?

Answered by Tracy Scott Burke
CFP®, ChFC® in Harrisburg, PA

Victor, Thanks for your question. Some type of a tax-deferred retirement account would likely be best in your situation in lieu of bank savings. If you have acces...

401(k) Bonds Investing & Retiring Retirement Taxes Mutual Funds IRA Stocks

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