If you get into trading cryptocurrencies, you’ll learn quite quickly that there is a lot of information to keep track of. It’s not enough to track what you’ve bought and where in cyberspace it lives. You’ll also need to know your cost basis and calculate whether you’ve gained or lost money during every cryptocurrency transaction. … Read more
Although it can feel stressful or embarrassing, you’re not alone if you’re sitting on a past-due tax return. Whether life happened and you just forgot to file or if you couldn’t pay your tax and shut down, back taxes happen. The good news is that it’s not too late to remedy the problem. Uncle Sam … Read more
When do tax return reviews come in handy? Picture this, you’ve just spent hours working on your tax return. It took awhile, but now it’s done and you’re ready to confidently file your paperwork with the IRS. You were meticulous in your work and read all the necessary instructions, so you know everything on your … Read more
If you’re wondering where your government stimulus payment is, you’re not alone. More than 8 million taxpayers are still waiting for their money. If you’re one of them, here’s everything you need to know to make sure you get your stimulus check or direct deposit. Starting with the Recovery Rebate Credit. What is the Recovery … Read more
Slowly but surely, America is starting to reopen after the pandemic, and we’re finding ourselves a little bit busier each day. Life is still taking a bit longer than usual, however, as we deal with everything from mail delays to shortened business hours. You may find that your W-2 was late because someone in the … Read more
That magical time of year is here again. That’s right – it’s tax season 2020. This quick and easy guide will help you avoid common tax mistakes and omissions that can cost you. It’ll also update you on important 2020 tax law changes you need to know about. Avoid Common Mistakes Sometimes simple errors can … Read more
We’re not going to sugarcoat it: 2020 was a tough year. Even the best budgeters and savers found themselves struggling, and many had no choice but to dip into their retirement funds just to survive. Ordinarily, taking early distributions from your retirement plan means paying hefty fees and penalties at tax time. But there’s nothing … Read more
If it seems like the IRS has enough forms and tax return schedules to wallpaper your house, it’s because they probably do. Wading through them can feel overwhelming, but they are all important and serve unique purposes. Forgetting to file a certain form or schedule could delay your refund, so it’s important that you know … Read more
It’s a parents job to support their children, and doing so isn’t cheap. In 2015, the U.S. Department of Agriculture reported that raising a child to the age of 17 costs about $233,000. This figure doesn’t take college tuition into account. Fortunately, the IRS understands that children are amazing but expensive creatures. To help offset … Read more
So you went the DIY route and your tax refund is lower than you expected. Your first step is likely to verify that the information you entered into your tax software is correct. If it is, you may have fallen victim to one of several common scenarios that lead to tax refund surprises. Reasons Why … Read more
