Do you owe estimated taxes? The US tax system is a pay as you go system, which means you are supposed to pay taxes as you earn income. This isn't a problem for many people because their employers ... Read More about Estimated Taxes – Quarterly Estimated Tax Guide, Deadlines, Who Pays, and How Much
Income Tax Deductions Ain’t What they Used to Be
In America, we love our tax deductions. We may despise the tax code, and find it anything but user-friendly – but don’t touch our cherished deductions. Much of that is born out of the history of ... Read More about Income Tax Deductions Ain’t What they Used to Be
Tax Fraud – Signs You May be a Victim of a Fradulent Tax Return
Identity theft is a big enough disaster all by itself, but when it brings us into closer contact with the Internal Revenue Service, that adds a whole other dimension to the picture. Yet if you are a ... Read More about Tax Fraud – Signs You May be a Victim of a Fradulent Tax Return
Do You Have a Tax Refund Coming? What Will You Do With It?
Once again, we're in the midst of tax season. For many filers, there are expected delays, since the IRS isn't ready to process some of the forms. But as the debate continues to rage on between ... Read More about Do You Have a Tax Refund Coming? What Will You Do With It?
Material Participation Test: Are You Involved in Your Business?
One of the goals that many business owners have is to slowly disengage themselves from the day to day running of the business and eventually just enjoy the income from the business without needing to ... Read More about Material Participation Test: Are You Involved in Your Business?
Fun and Terrifying Facts About the National Debt
The United States Federal Government National Debt sits just over $16 trillion. That's $16,000,000,000,000. At current rates and assuming no changes, the debt will grow to $22.5 trillion by ... Read More about Fun and Terrifying Facts About the National Debt
What is the Alternative Minimum Tax (AMT) and How Does It Work?
One of the most confusing things about our tax code is the Alternative Minimum Tax (AMT). As the name suggests, the AMT is an alternative method of figuring your tax. In order to determine ... Read More about What is the Alternative Minimum Tax (AMT) and How Does It Work?
An Introduction to Tax-Efficient Investing
When first jumping into the world of investing, it can be easy to forget that you will have to pay taxes on any investment income that you make. After all, you got into investments in order to grow ... Read More about An Introduction to Tax-Efficient Investing
What Is Your Effective Tax Rate?
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 ... Read More about What Is Your Effective Tax Rate?
How Do Capital Gains Taxes Work, Exactly?
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 capital gains taxes on your increased earnings when you realize them. ... Read More about How Do Capital Gains Taxes Work, Exactly?
