For many people, summertime means change. Whether it's a life change like a marriage or a typical summer event – like sending the kids to camp – things people do in summer could affect their income taxes. Here are a few summertime activities and tips on how taxpayers...
Wading through a pile of statements, receipts and other financial documents when it’s time to prepare a tax return can be frustrating for people who haven’t managed their records. By knowing what they need to keep and how long to keep it, people can develop...
Whether they plan to stay up to greet the new year or go to bed early, taxpayers can get ready for 2023 by reviewing these common end-of-year tasks. People can always visit IRS’ Get Ready webpage for info on filing their tax return. Here are a few...
When people get married their tax situation often changes. A taxpayer’s marital status as of Dec. 31 determines their tax filing options for the entire year, but that’s not all newlyweds need to know. Here's a tax checklist for newly married couples: Name and address...
The amount individuals can contribute to their 401(k) plans in 2023 will increase to $22,500 -- up from $20,500 for 2022. The income ranges for determining eligibility to make deductible contributions to traditional IRAs, contribute to Roth IRAs, and claim the Saver's...
Once you’ve checked your tax return off the list for the year, it can be tempting to check out and enjoy your hard-earned income. As much as we’d all enjoy a long break from thinking about taxes, the truth is that it’s time to start tax planning for next year. By...
When people go through a legal separation or divorce, the change in their relationship status also affects their tax situation. The IRS considers a couple married for filing purposes until they get a final decree of divorce or separate maintenance. Update...
An IRA known as an individual retirement account is a tool used to build retirement savings. IRAs offer direct access to investments, in addition to tax advantages. Many individuals are aware of these accounts but are not sure which option is most optimal for their...
Did you struggle last year tracking your finances? If so personal finance software may be the option for you for 2021. Personal finance tracking software can help you master tracking your expenses and income, while others can help with investment portfolio management....
If you are a person who makes yearly resolutions consider adding these 3 Financial New Years Resolutions to your list. Set Financial Goals Chart your financial path for the New Year with clear and measurable goals. Set these goals based on the most important aspects...
