Our country has a decades-long history of trying to make sure that high earners pay what is considered their fair share in taxes. However, a long list of deductions is available, which allows many wealthier people to reduce what they pay in taxes. In order to reduce the deduction loopholes, another method of figuring tax […]
Even though the majority of Americans are worried about the possibility of outliving their retirement money, passing away with a still-loaded IRA could cause its own set of headaches for your heirs. Whether you’ve recently become the beneficiary of a loved one’s IRA, or are planning ahead in case your retirement account outlives you, here’s […]
If you dream of conducting a business from your home, it’s important to remember it’s not all about showing up to work in your pajamas. Part of the reason why the entire world isn’t self-employed is that there’s a great deal of behind-the-scenes paperwork that employees at a traditional workplace never have to worry about. […]
We may have just rung in the new year, but now is the perfect time to start thinking ahead to tax day. If you usually find yourself scrambling to get all of your documents together on April 15th, a little advance planning and work can make filing go much more smoothly. While tax preparation and […]
A calculator and a pen used to be essential for filing taxes in the good old days, where hours are spent trying to compute everything by hand. This often led to frustrations, as many people edit their numbers again and again because of simple mathematical errors. Luckily, most of us don’t deal with paper returns […]
With the US Congress in a fuss over financial changes scheduled for the beginning of next year, the “fiscal cliff” is approaching. The left and right cannot seem to agree on what’s best for the country, so changes seem unavoidable. This set of changes would affect federal spending and tax laws, and in turn, nearly […]
