With the new tax laws, some may be wondering how they can be sure they don't end up with an unexpected tax bill next year. The simplest way is to use the IRS Withholding Calculator, available at IRS.gov. It will walk you through the process and determine how many allowances you should claim. [...]
The following article was published by the IRS. The 2018 Form 1040 replaces prior year Forms 1040, 1040A and 1040EZ. The 2018 Form 1040 uses a building-block approach that allows individuals to file only the schedules they need with their federal tax return. Many people will only need to file Form 1040 and no schedules. Electronic [...]
The currency of the college years is good grades. Once you graduate, your credit score often dictates much of your financial path going forward. There are several entities who will look at your credit and potentially make decisions based on your history: Your Employer Insurance Companies Landlords Lenders So if you are just [...]
The following article was published by the IRS. The IRS generally recommends keeping copies of tax returns and supporting documents at least three years. Employment tax records should be kept at least four years after the date that the tax becomes due or paid, whichever is later. Tax records should be kept at least seven years [...]
Changes from the Tax Cuts & Jobs Act mean the standard deduction is worth almost twice what it was before. So you may get more benefit from the standard deduction than from itemizing. To figure out whether you should itemize, you can search "How Much is Standard Deduction" at IRS.gov, or speak with [...]
