Taxes

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Pack Your Bags And Save Thousands On Taxes

Reduce Your Tax Bill by Moving

"Honey, our taxes are just too high. We're moving to Alaska," said no one, ever. Nevertheless, a new study from the moving assistance web...

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Property Taxes Taxes Local Taxes State 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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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 Tax Laws Taxes 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 Professional 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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Use Your Tax Refund To Build Credit

Invest In Yourself Instead of Spending

What do you plan to do with your tax refund? Maybe you have your eye on upgrading your phone, buying a new computer, or splurging on a long ...

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Credit Rating Borrowing Tax Returns Taxes

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Only 25% Of Americans Know This Simple Tax-Savings Trick

A Legal Method to Reduce 2018 Taxes in 2019

You've completed your 2018 tax return, and you don't like the results. How did you end up owing so much money? There's nothing you can do a...

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Tax Returns Taxes Federal Income 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 Retirement Investing & Retiring Taxes Mutual Funds IRA Stocks

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