This article was published by the IRS. When it comes to federal tax refunds, there are several common myths. Getting a refund this year means there's no need to adjust withholding for 2020. To help avoid a surprise next year, taxpayers should make changes now to prepare for next year. One way to do this is [...]
Most individuals have a portion of their pay withheld by their employer to be paid to the IRS. However, in certain situations, such as when you are self-employed and receive a 1099, this process happens a little differently. Estimated taxes are payments made quarterly to the IRS directly from an individual. This is to make sure [...]
Raising children brings with it many exciting milestones. Paying for college isn't one of them. If you are worried about paying for your children's college, here is a guide to help you get started: Step 1: Consider opening a college savings account. There are currently two main types, a Coverdell Education Savings Account and a 529. [...]
The following article was published by the IRS. Are you recently married, or planning to get married before the end of this year? Marriage is a life event that will also affect your federal taxes. Here's how: Getting married means selecting a different status when filing your taxes. Why? Because if you're married as of December [...]
Purchasing a home is likely the largest purchase you will ever make. Even though the vast majority of buyers will finance a significant portion of their home, saving up for a down payment is still extremely important. Here are some ways to free up some money to save for this purpose: Set a budget. If you [...]
