Taxes

1099-Cs and Your Taxes: What You Should Know

1099-Cs and Your Taxes: What You Should Know

1099-Cs and Your Taxes: What You Should Know

Not many know what a 1099-C is or why they receive it. But these forms can be a little scary because they’re tax documents—and no one wants to mess up their taxes. When you get one, it’s because you had a portion or all of a debt canceled. It’s important to understand what a 1099-C... Read More

The 10 Main Ways the Government Spends Your Tax Dollars

The 10 Main Ways the Government Spends Your Tax Dollars

The 10 Main Ways the Government Spends Your Tax Dollars

Federal government spending is closing in on $4 trillion a year. Even though a new administration is promising a wave of change, it’s still going to require a lot of money to keep the country running. A big chunk of that money comes directly from you, the taxpayer. The government gets most of its spending money... Read More

5 Items You Should Pay Taxes On (But Aren’t)

5 Items You Should Pay Taxes On (But Aren’t)

5 Items You Should Pay Taxes On (But Aren’t)

When it comes to taxes, everyone knows you have to report your income from a full-time job or side gig. (Of course, not doing so is a common tax mistake.) But the IRS doesn’t stop there — they expect you to pay taxes on all sorts of earnings, including these five things you might be overlooking. 1. eBay Profits... Read More

11 Ways to Reduce Next Year’s Tax Bill

11 Ways to Reduce Next Year’s Tax Bill

11 Ways to Reduce Next Year’s Tax Bill

If you claimed the right number of dependents and standard deductions on your 2016 federal income tax return and you still ended up owing the IRS, you’re probably looking to avoid a repeat performance next year. Luckily, there are several ways to increase your chance for a refund (or at least reduce the amount you’ll... Read More

The Ultimate Beginner’s Guide for Filing Your Taxes

The Ultimate Beginner’s Guide for Filing Your Taxes

The Ultimate Beginner’s Guide for Filing Your Taxes

When I was living on my own and working my first job, I decided to do my taxes myself. I had no real idea how to file taxes, so I made a lot of mistakes. And because I was utterly clueless, it cost me. I missed important deductions and credits. Even worse, I messed up... Read More

6 Tax Mistakes Procrastinators Make & How to Avoid Them

6 Tax Mistakes Procrastinators Make & How to Avoid Them

6 Tax Mistakes Procrastinators Make & How to Avoid Them

We get it. Doing your taxes is no fun, especially if you know you’re going to owe money. But as with any project on which you procrastinate, leaving everything to the last minute can lead to errors, both large and small, and some of those errors could cost you serious money. If you’ve gone and... Read More

3 Signs Married Couples Need to File Their Taxes Separately

3 Signs Married Couples Need to File Their Taxes Separately

3 Signs Married Couples Need to File Their Taxes Separately

With April 18 just around the corner, chances are you and your spouse are knee-deep in tax work. Most couples file jointly to take advantage of various benefits but depending on your situation, you may want to file separately. We tapped Kelly Phillips Erb, a Philadelphia tax attorney who blogs at Forbes, for some pointers on when to do... Read More

50 Things to Know If You Haven’t Done Your Taxes Yet

50 Things to Know If You Haven’t Done Your Taxes Yet

50 Things to Know If You Haven’t Done Your Taxes Yet

You’re motivated by a deadline, you’re busy, you’re still getting organized — whatever the reason, you haven’t filed your taxes yet. That’s not a huge deal (there’s a deadline for a reason), but still, waiting until the last minute to file your taxes means you might be rushed. And that means there’s a higher likelihood of... Read More

These 9 Tax Breaks Can Help Make Homeownership More Affordable

These 9 Tax Breaks Can Help Make Homeownership More Affordable

These 9 Tax Breaks Can Help Make Homeownership More Affordable

Ben Franklin said, “nothing is certain except for death and taxes.” And every year around this time we’re reminded of the unfortunate truth of his words. But let’s look at things positively: If taxes are inevitable, so are tax breaks. Pluses and minuses of taxes can be compared to home ownership — the joys ebb... Read More

Help! I Just Got a 1099-C — But I Filed My Taxes Already

Help! I Just Got a 1099-C — But I Filed My Taxes Already

Help! I Just Got a 1099-C — But I Filed My Taxes Already

You finally did it. You filed your taxes and now need only await your return, to be spent on a new TV or stocked away in an IRA or whatever you want — it’s your money again, and not Uncle Sam’s. Unfortunately, it’s possible for this state of reverie to be interrupted by something called... Read More

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