5 Tax Myths That Can Cost You

Personal Finance

5 Tax Myths That Can Cost You

5 Tax Myths That Can Cost You

Tax myths are a lot like a bad date. They are annoying and seem to last forever. Yet people have beliefs about income taxes that have no basis in reality. Were it not for the potential financial costs, some of these might be amusing. But if you believe them and act upon them, they can… Read More

How to Put Your Tax Refund to Good Use

Personal Finance

How to Put Your Tax Refund to Good Use

How to Put Your Tax Refund to Good Use

It’s everyone’s favorite time of year again – tax season! After the hard part of getting your documents together and filing your taxes, you may discover that you are one of the lucky ones who will receive a sizable tax return. Although you may be tempted to go out and spend the money right away,… Read More

TurboTax Suspends State Tax Filing Over Fraud Concerns

Identity Theft

TurboTax Suspends State Tax Filing Over Fraud Concerns

TurboTax Suspends State Tax Filing Over Fraud Concerns

Tax ID theft is reaching epidemic proportions. Well, it did last year when the IRS issued seemingly endless warnings about it. Now, TurboTax announced it has paused state tax return filing for people who use the software after it received complaints of “suspicious filings.” The firm said its own systems weren’t hacked, and that it… Read More

Are You Paying Your Nanny Illegally?

Personal Finance

Are You Paying Your Nanny Illegally?

Are You Paying Your Nanny Illegally?

If you employ a nanny, chances are good that you’re paying him or her under the table. Kerri Swope, senior director of Care.com HomePay estimates that just 20% of nannies are paid the way the U.S. government requires. Other sources put the estimate even lower. The chances of getting caught are slim — it usually… Read More

IRS Lost $5.2 Billion to Identity Theft Last Year

Identity Theft

IRS Lost $5.2 Billion to Identity Theft Last Year

IRS Lost $5.2 Billion to Identity Theft Last Year

Identity theft cost the Internal Revenue Service more than $5 billion in tax year 2013, according to an analysis from the U.S. Government Accountability Office. While the IRS estimates it prevented $24.2 billion in fraudulent refunds, there are still thousands of taxpayers whose tax refunds were delayed because a criminal beat them to the joyous… Read More

How Debt Can Actually Lower Your Taxes

Personal Finance

How Debt Can Actually Lower Your Taxes

How Debt Can Actually Lower Your Taxes

Debt is not necessarily the most terrible thing ever. Sometimes, debt is a good thing — it can help you fund college, build credit and can even help you save money on your taxes. Taking on debt can be beneficial in many ways — student loans are an investment in your future, for example —… Read More

How Should You Pay Your Taxes?

Personal Finance

How Should You Pay Your Taxes?

How Should You Pay Your Taxes?

So you haven’t done your taxes yet — yeah, you and several million other Americans. It’s not a huge deal, but now that it’s April, let’s talk about your options for paying the bill. Of course, you’d rather not be on the paying end this year, but just in case you don’t get a refund… Read More

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