This year feels like it has zipped by quickly. Here we are, deep into September—the perfect time to review your finances, prepare for tax season, and figure out whether you’ll need to adjust your tax withholding. By this time, you’ve earned three-quarters of the year’s routine income. You likely have a pretty good idea of [...]
Doing small business payroll can be very complicated, even if you’re only paying one person. Taxes can be complicated, too: you need to register with the IRS and with your state payroll tax department, you need to deal with a lot of paperwork and calculations, and you typically need to make payments to the IRS [...]
I’ve seen thousands of cases where the IRS grabs tax refunds from taxpayers. In most cases, there is one cause for this irritating IRS practice: The taxpayer didn’t respond to the IRS’s letters. It’s as simple as that. When you have a balance or a new assessment due, the IRS sends out a notice that [...]
Many people dream of the independence that comes with being self-employed. But along with that freedom comes more responsibility—like paying taxes to the IRS multiple times per year. Independent contractors and the self-employed don’t have taxes withheld by an employer and are usually required to pay estimated taxes in quarterly installments using Form 1040-ES. These [...]
The biggest and nastiest tax battle divorced or separated taxpayers face is over which person gets the rights to the tax credits for children and dependents. One particularly underhanded trick that is often played involves one person filing taxes in early January to grab the dependents and tax credits before the custodial parent files a [...]
Back in the distant mists of time, I got a divorce. It was easy. We had no children and no disputes over splitting assets. We sold the house and split the profits, and we even shared an attorney (his best man at the wedding). However, when you have a lot invested in a marriage—time, children, [...]
This year, our household has the biggest medical expenses we’ve had in a decade—and we’re not alone. My Webmaster is facing over $25,000 in expenses not covered by his family’s high-deductible insurance policy. Are you hurting, too? If so, there may be tax implications. Let’s look at what has changed since last year and find [...]
Four ways to Live Tax-free. Here are a few strategies for those who want to live a tax-free life without breaking the law. We all know that paying taxes is a necessary part of life. Yet the news is constantly filled with reports of people being caught with offshore, untaxed funds in an effort to [...]
One of the things no one really explains to you when you buy a home is that there are many costs for which you are responsible that go above and beyond mortgage payments. Paying taxes, insurance, and homeowners association fees is all part of being a homeowner. Additionally, when you are the homeowner, you are [...]
This post was written by guest blogger Eva Rosenberg. I’ve had the privilege of attending some amazing weddings in my life: a beautiful, fun evening in New Orleans right after Hurricane Katrina; a magnificent wedding at the elegant Ambassador Hotel and an expensive affair that took over the bar and all the rooms on an [...]
