Solutions to Make Better Decisions with Your Taxes and Money

Insurance Considerations for Freelancers, Entrepreneurs and Small Business Owners

Insurance Considerations for Freelancers, Entrepreneurs and Small Business Owners - TaxAct Blog

Taking the leap to becoming a freelancer, entrepreneur or small business owner is huge. If you’ve recently done it, congratulations!

There is no doubt you have a long to-do list, but you need to make sure getting insurance is a high priority.

While becoming your own boss has many perks, it often also means leaving behind a company Human Resources department to handle all the little things – like insurance.

In order to protect yourself, your family and your business, you need to be covered with the right insurance policies.

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What to Do with Your Side Hustle Income

What to Do with Your Side Hustle Income - TaxAct Blog

A side hustle (or side gig or freelance job) can help people achieve financial goals and obtain a level of job security. Developing a second skill set to bring in money can not only help you build a nest egg in addition to your current salary, but … [Continue reading]

What You Need to Know before Taking out a Loan

What You Need to Know before Taking out a Loan - TaxAct Blog

Before you apply for any kind of financing, it’s important to understand how loans work so you know which type is best for your situation. Here are some common questions and answers about loans. … [Continue reading]

The Ultimate Guide to Treating Yourself—Without Blowing Your Budget

The Ultimate Guide to Treating Yourself—Without Blowing Your Budget - TaxAct Blog

"Treat yourself" and "YOLO" (you only live once) have become popular mantras to justify all kinds of discretionary spending. But how can you splurge on yourself without feeling guilty? Or worse, wiping out your bank account in the … [Continue reading]

Your Complete Guide to Form 8965 — Health Coverage Exemptions

Your Complete Guide to Form 8965 — Health Coverage Exemptions - TaxACT Blog

What you need to know about Form 8965 Did you know that if you weren’t covered by a qualified health insurance plan last year you could face a penalty when filing your tax return? Fortunately, you may qualify for one of the many exemptions … [Continue reading]

Tax Implications of Owning Rental Property

Tax Implications of Owning Rental Property - TaxAct Blog

Whether you intended to be a landlord or you fell into it because you had vacant property you couldn’t or didn’t sell, owning rental property is a source of income and it affects your tax return. Knowing the rules can help you maximize the tax … [Continue reading]

6 Budgeting Tips to Save on Your Kids’ Sports

6 Budgeting Tips to Save on Your Kids’ Sports - TaxACT Blog

Youth sports teams encourage physical fitness, teamwork, communication and self-confidence. But they often come with a hefty price tag. In fact, a survey of more than 250 parents who use TeamSnap, a team and activity management service, found that … [Continue reading]

7 Life Events That Qualify You for Special Enrollment Period

7 Life Events That Qualify You for Special Enrollment Period - TaxACT Blog

Under the Affordable Care Act you can usually only buy a health insurance plan, apply for subsidies to help pay for coverage, or switch plans is during the annual open enrollment period. The purpose of this rule is to keep people from waiting … [Continue reading]

A Complete Guide to Inheritance Tax

A Complete Guide to Inheritance Tax - TaxACT Blog

Most taxpayers no longer need to worry about the federal estate tax. Unless you expect to leave an estate worth more than $5.43 million or $10.9 million for couples (in 2015), Uncle Sam won’t take his share of the money and other assets you want … [Continue reading]

6 Tax Moves to Make Before the Summer’s Over

6 Tax Moves to Make Before the Summer’s Over - TaxACT Blog

It’s summer, and the last thing you probably want to think about is taxes. However, now is actually a perfect time to do a mid-year checkup. So in-between firing up the grill, hitting the pool and taking family vacations, take a few minutes to do … [Continue reading]

How Annual Bonuses Are Taxed — 7 Common Questions Answered

How Annual Bonuses Are Taxed - TaxACT Blog

Everybody loves an annual bonus. Not everyone understands how bonuses affect their tax returns, however, or even what is considered to be a bonus by the Internal Revenue Service (IRS). Sometimes, when people receives an annual bonus from their … [Continue reading]

IRS Sets July 31 as Deadline to File 2014 Tax Returns for ACA Premium Tax Credit

Deadline to File 2014 Tax Returns for ACA Premium Tax Credit - TaxACT Blog

The IRS has just announced some important information for taxpayers who filed an extension for the 2014 tax year. The deadline for filing your 2014 Federal return is October 15, 2015, but you may want to file sooner. If you purchased health … [Continue reading]

Money-Saving Tips for Wedding Season (When You’re the Guest)

Money-Saving Tips for Wedding Guests - TaxACT Blog

Receiving wedding invitations is exciting – the first two or three times. (Other than bills, it’s really the only way you receive snail mail anymore). But once you get four (or more!) wedding invites per season, the financial burden starts to add … [Continue reading]