Everything You Need to Know About the Dreaded 1099-C

Personal Finance

Everything You Need to Know About the Dreaded 1099-C

Everything You Need to Know About the Dreaded 1099-C

If you got a 1099-C in the mail and thought, “Why is this happening?!” join the club — most Americans are frightened by tax forms. But the last thing you should do is ignore it. A copy of these forms are electronically sent to the tax man, and the tax man will slap you with penalties if you fail... Read More

Help! I Owe Money on My Taxes & I Can’t Pay

Personal Finance

Help! I Owe Money on My Taxes & I Can’t Pay

Help! I Owe Money on My Taxes & I Can’t Pay

If you know you owe taxes but can’t pay right away, don’t despair. There are options, although some are admittedly better than others. Here a few ways to take care of your tax debt so it doesn’t come back to haunt you. Failing to pay your taxes can lead to a tax lien on your credit reports, which... Read More

5 Last-Minute Tax Tips That Will Save You Money

Personal Finance

5 Last-Minute Tax Tips That Will Save You Money

5 Last-Minute Tax Tips That Will Save You Money

The moment of truth is nearly upon those of us who waited to file our federal income taxes. Yes, this year the tax deadline is April 18 instead of the 15th — offering serious procrastinators a little reprieve. But the longer you wait, the more you increase the chance of making a mistake under pressure. Still,... Read More

10 Ways You’re Filing Your Taxes Wrong

Personal Finance

10 Ways You’re Filing Your Taxes Wrong

10 Ways You’re Filing Your Taxes Wrong

Good news: You made it through winter and spring is finally here. Bad news: Your taxes are due! Fortunately, the most common mistakes made on tax returns are fairly easy to avoid. Why should you care? These common mistakes often mean you’re paying more taxes than necessary or, even worse, you’re under-reporting your income and... Read More

What’s the Difference Between a Tax Credit & a Tax Deduction?

Personal Finance

What’s the Difference Between a Tax Credit & a Tax Deduction?

What’s the Difference Between a Tax Credit & a Tax Deduction?

The U.S. Tax Code provides tax relief under various conditions in the form of tax deductions and tax credits. While both of these can save you money, they work very differently. Additionally, there are business tax deductions which are not covered here. In order to understand how tax deductions and credits operate, it is necessary... Read More

Can I Appeal My Property Taxes?

Mortgages

Can I Appeal My Property Taxes?

Can I Appeal My Property Taxes?

Q. Can you provide any insight on appealing a property tax assessment? My sister’s town just reassessed, and her property value has almost doubled. The assessor has overstated the value of the land. Of course, this is what I believe in comparison to my home situated on a similar road in Chatham. — Paying too much... Read More

4 People Who Have a Tough Tax Season

Personal Finance

4 People Who Have a Tough Tax Season

4 People Who Have a Tough Tax Season

It’s tax season, and if you haven’t already filed your taxes, chances are you’re a little stressed about it. But if you’re an average taxpayer, you’ve actually got it pretty sweet. There are some income situations where paying taxes can require more paperwork, more filing deadlines and, yes, even more stress. We reached out to... Read More

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