The new school year is swiftly approaching and many parents are preparing to buy their children’s school supplies. To offer an opportunity for parents to save money, many states hold a tax-free weekend in late July, early August. The weekend offers a pass on sales tax on certain items including school supplies, books, clothing, electronics, […]
When you first ponder the difference between being an independent contractor vs. employee, no large differences may come to mind. Normally, these individuals do a lot of the same work. Many times side-by-side in the same company. However, there are very important legal differences between the two employment statuses. So, before you take the gig labeling […]
An old saying states two things in life are certain, death and taxes. You pay taxes on gasoline every time you fill up at the pump, but do you know how much gasoline tax you actually pay? It’s easy to not notice when gas prices alone are nearing $3 a gallon. Both the federal and […]
It’s official: The last day to settle your federal tax debt without incurring penalties. Do you have an IRS tax bill? Finding out that you owe the IRS additional money can be disheartening, but it’s something that you have to handle. Luckily, there are a number of ways you can settle your IRS tax debt. […]
This post is sponsored by H&R Block Many people may be intimidated by the idea of doing your taxes on your own. The amount of paperwork, the math, and the terrifying prospect of making a mistake. Plus, opening up yourself to the wrath of IRS auditors can all have a stultifying effect on the […]
The holidays bring along celebrations, gifts, and, for some, bonuses. If you’ve received a holiday bonus in the past, you know that they are usually heavily taxed. Well, why is this and can you lessen Uncle Sam’s tax bite? Why Bonuses Are Heavily Taxed You’ve probably wondered why your bonuses are so heavily taxed. It’s […]
There is absolutely no doubt that everyone hates the end of the year for one reason. They know that tax time is right around the corner. For a lot of Americans, this means that it is time yet again to pay a hefty tax payment to the federal government. The good news is that this […]
Don’t believe any refrains about the U.S. supposedly having the highest taxes of any country — no matter whether President Donald Trump is saying it nor anyone else, it’s not really true.
I understand the argument behind the advice of putting at least a 20% down payment on a house purchase. No one wants to pay private mortgage insurance and the idea of getting two different loans to avoid it isn’t that great either. I imagine if you are a previous homeowner and have some equity from […]
Financial windfalls are double edged swords. One the one hand, you have a large sum of money. On the other, you can be placed into a situation you are not prepared to handle. Sales of real estate or businesses usually involve the conversion of an liquid asset into large amounts of ready cash – presenting […]
