Taxes

Guide

8 Common Mistakes Of Tax Extension Filers

IRS Warns About Top Filing Mistakes

Did you miss the April 17 tax deadline for 2018? If so, you probably filed for and received a six-month extension from the IRS. Don't relax ...

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Tax Returns Taxes Federal Income Taxes

Guide

7 Taxes Retirees Must Consider

Tax Changes Related to Retirement

Retirement has finally arrived. You're ready to start drawing on your retirement income sources. Enjoy this new phase of your life. Unfor...

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401(k) Pensions Social Security Tax Returns

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 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

Guide

When The Government Can Keep Your Tax Refunds And Disability Checks

All About Administrative Offset

The term "administrative offset" brings to mind meaningless governmental jargon. It is governmental jargon – but if you are affected, it's n...

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Social Security Tax Returns Taxes Federal Income Taxes

News

More Taxes On Online Purchases

Economic News you can Use

A New Avenue for State and Local Taxes Americans love shopping online, in large part because of lower prices. Online merchants offer lowe...

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Sales Taxes Taxes State 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

Q&A

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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