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 [...]
The following article was published by the IRS. As taxpayers are completing their 2018 tax returns this year, they must complete the lines related to health care. For tax year 2018, the IRS will not consider a return complete and accurate if individuals do not do one of the following on their return: Report full-year health [...]
For most people, a home is both the biggest investment they will ever make, as well as the greatest debt they will ever incur when factoring in a mortgage. True financial freedom often requires paying off this mortgage, but that often takes 15-30 years (or longer). For some, it is possible to pay [...]
Many parents claim the child tax credit to help with the cost of raising children. This year the credit may help even more parents because the income limit for those who qualify has increased to $400,000 for married couples filing jointly and $200,000 for all other filers. Also the credit amount for each [...]
All of us have made bad decisions in our life at some point, and we will likely make some more in the future. While it's always a good idea to avoid these scenarios whenever possible, this is especially true when it comes to money. Here are five money mistakes that are relatively common: [...]
