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.

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.

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 available. While some of the exemptions require you to apply through […]

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 advantages of owning rental property and help you create a […]

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 until they are sick or they suspect they may be sick to […]

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 to leave to your heirs. Inheritance tax, however, is another […]

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 these simple things to save you time and money at […]

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 employer, they are surprised at how small it is after tax. They may even wonder if […]

6 Ways to Deal with High Medical Bills

6 Ways to Deal with High Medical Bills - TaxACT Blog

If you have high medical bills, it can be hard to know where to turn. Medical bills usually show up when people are least equipped to deal with them – when they or a member of their family is sick or injured. They may even be off work due to illness or surgery. Fortunately, there […]

6 Tips for Planning Next Year’s Taxes Now

6 Tips for Planning Next Year’s Taxes Now - TaxACT Blog

Smart taxpayers plan their tax year. They don’t wait until the year is over, and then prepare their taxes and see how much damage was done. The farther ahead you look to plan your tax situation, the better your chances of significantly reducing your tax burden – and better planning your financial future. Follow these […]

Owe Taxes This Year? Here Are 5 Ways to Lower Next Year’s Tax Bill

Owe Taxes This Year? Here Are 5 Ways to Lower Next Year’s Tax Bill - TaxACT Blog

You’ve finished your taxes. You may have expected a refund, or maybe you knew you’d have taxes to pay when you filed your return. Either way, writing more than a small check to the Internal Revenue Service is an experience you’d rather not repeat. What can you do to avoid it in the future? Check […]

5 Shortcuts to Creating a Budget That Sticks

5 Shortcuts to Creating a Budget That Sticks - TaxACT Blog

We know we need budgets. They’re absolutely essential to good management of our finances. Creating a budget is also the last thing most of us want to do. We may have no idea where to start. The idea of budgeting sounds like the stuff of ledger books tracking every dime we spend, or worse yet, […]

What to Do after Filing a Tax Extension

What to Do after Filing a Tax Extension - TaxACT Blog

If you didn’t quite finish your tax return by April 15, filing for a tax extension was a smart move. It’s easy to mail Form 4868, Application for Automatic Extension of Time to File, to the IRS and get another six months to put everything together. It’s a little too easy, actually. And the extension […]

How to File a Tax Extension – And 3 Reasons Not To

How to File a Tax Extension – And 3 Reasons Not To - TaxACT Blog

For many of us, there never seems to be a convenient time to get everything together and prepare our taxes. That sometimes means filing for an automatic extension of time to file your income taxes. This is a smart move if you don’t have all your information yet. It may be your only choice if […]