Solutions to Make Better Decisions with Your Taxes and Money

About Sally Herigstad

Sally Herigstad is a certified public accountant and personal finance columnist and author of Help! I Can't Pay My Bills, Surviving a Financial Crisis (St. Martin's Griffin). She writes regularly at CreditCards.com, Bankrate.com, Interest.com, RedPlum, and MSN Money. She is an experienced speaker and a member of Toastmasters International. Follow Sally on Twitter.

5 Things You Should Know About Crowdfunding and Taxes

5 Things You Should Know About Crowdfunding and Taxes - TaxAct Blog

Crowdfunding platforms, such as Kickstarter, open a whole new world in business financing, but can end up being a confusing world for tax purposes. The proceeds aren’t like sales in the traditional sense, and the people who contribute are not stockholders. So, how should you handle income from a crowdfunding project? It’s important to report […]

Energy Efficient Home Improvement Tax Credit

Energy Efficient Home Improvement Tax Credit - TaxAct Blog

Remembering to turn off the lights on Earth Day may help bring attention to energy usage and our commitments to being responsible consumers, but that’s not where it ends. If you want to make a permanent difference in how much energy you use on a daily basis, it’s time to take a serious look at […]

7 Things to Know When Filing an Amended Tax Return (Form 1040X)

Things toThings to Know When Filing an Amended Tax Return (Form 1040X) - TaxAct Blog Know When Filing an Amended Tax Return (Form 1040X) - TaxAct Blog

From time to time, we all need a “do over” – even when it comes to our tax returns. Fortunately, if you’ve made a mistake on your original return or missed claiming a deduction or credit, the IRS has a solution. It’s called Form 1040X, Amended U.S. Individual Income Tax Return. Filing an amended return […]

7 FAQs about Tax Extensions

7 FAQs about Tax Extensions - TaxAct Blog

For many of us, there just doesn’t seem to be a convenient time to gather all of our tax documents and sit down to prepare a return. And, before we know it, the tax filing deadline is upon us. That’s when filing Form 4868, Automatic Extension of Time to File U.S. Individual Tax Return, may […]

What Happens If I Don’t File My Taxes?

What Happens If I Don’t File My Taxes? - TaxAct Blog

It’s easy to put off filing your taxes. Life is jam packed with places to be and things to do. Finding time to organize your tax information and complete your return may seem hard. If you’re like many people, it’s not terribly hard to find reasons to procrastinate all kinds of things you need to […]

Tax Deductions for Non-business Bad Debts

Tax Deductions for Non-business Bad Debts - TaxAct Blog

Have you ever lost money to a loan you’ll never collect? If you answered yes, the good news is you’re not alone. Many of us have lent money to a friend or relative at some point. And while initially the intent may be have been good, there are times when things don’t go according to […]

Estimated tax payments and retirement – what you need to know

Estimated tax payments and retirement – what you need to know - TaxAct Blog

If you’ve been an employee all your working life, you’re probably used to having income tax withheld from your pay. When it comes time to retirement, however, you might be surprised to find you may need to make estimated tax payments on your income four times a year. For some people, the days of simply […]

When Does Capital Gains Tax Apply?

When Does Capital Gains Tax Apply? - TaxAct Blog

You sold your house, an investment property or something else of value. When do you tell the IRS? When you sell a valuable asset, such as real estate, the IRS definitely wants to know about it. In fact, for the sale of many assets the IRS finds out even if you don’t tell them, thanks […]

HSA, FSA or HRA — How Your Health Plan Affects Your Taxes

HSA, FSA or HRA — How Your Health Plan Affects Your Taxes - TaxAct Blog

It’s important to understand the type of health account you have or could have, so you can take full advantage of any tax benefits. Three common types of tax-advantaged health accounts are health savings accounts (HSA), health flexible spending accounts (FSA) and health reimbursement arrangements (HRA).