What is the Alternative Minimum Tax and How Does It Work?

by Miranda Marquit June 29, 2012

One of the most confusing things about our tax code is the Alternative Minimum Tax (AMT). As the name suggests, the AMT is alternative method of figuring your tax. In order to determine whether or not you are subject to paying the AMT, you are required to figure out your taxes twice: Once using the […]

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What Is Your Effective Tax Rate?

by Emily Guy Birken June 20, 2012

The tax code is one of those things that never seems completely clear. You may know that there are different tax brackets, but you’re not sure how that affects what you pay each April. Add in the talking heads (particularly during an election year) spouting off about the effective tax rate of various politicians, and […]

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How Capital Gains Taxes Work

by Miranda Marquit June 18, 2012

When you sell an investment for more than you bought it for, the government wants a cut of the gains. You are required to pay taxes on your gains when you realize them, understanding that there are different rates, depending on how long you have held the investment. You pay capital gains taxes only on […]

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How Long to Keep Tax Records

by Kevin Mulligan June 1, 2012

With tax day behind you it can be easy to forget about all of that paperwork until next year. You can’t just stuff the tax return in a drawer for the rest of time because you’ll eventually run out of space. Shredding (or worse yet, throwing away) your tax returns can be detrimental if it […]

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How to Adjust Tax Withholding

by Kevin Mulligan May 22, 2012

It’s only been a few weeks since many people rushed to file their taxes before the tax deadline in April. Were you surprised this year at how much you got back from the government? Or did you end up paying a lot of extra tax instead of getting a refund? Being on either end of […]

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I Need My Tax Refund!

by Ryan Guina February 15, 2012

Actually, I don’t need my tax refund, not right away anyhow. But I’ve been hearing this comment frequently since tax season started, and even more frequently since the IRS announced the tax refund schedule. It seems as though this year the IRS implemented new anti-fraud measures in their tax software, which is designed to prevent […]

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Are You Ready for the New 1099-K?

by Miranda Marquit January 23, 2012

Starting this year, for tax year 2011, there is a new 1099 form in town. Many of us are already familiar with the 1099-MISC, especially if we work from home as contractors. The 1099 is meant for income that comes, in a fairly regular way, from sources that aren’t considered a “regular” job (which will issue […]

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