Solutions to Make Better Decisions with Your Money

Tax Benefits: Education Tax Credits Mean More Money In Your Pocket

Tax Benefits: Education Tax Credits Mean More Money In Your Pocket

You can still get tax benefits for higher education expenses. If you or your family members attend or are planning to attend postsecondary school in 2013, you can count on education tax credits to help you defray the cost. American Opportunity Credit (formerly the Hope Credit) One tax benefit is not only extended, it’s also […]

What’s At Stake If You Miss the Deadline to Get Health Insurance?

What's At Stake If You Miss the Deadline to Get Health Insurance

The deadline to get health insurance is approaching. If you don’t have access to employer-provided health insurance and you don’t qualify for Medicaid or Medicare, you need to make sure you have health insurance that meets the requirements of the Affordable Care Act (ACA) by January 1, 2014. If you don’t get qualified health insurance […]

4 Tax Planning Strategies for College Students

4 Tax Planning Strategies for College Students - TaxACT

Start your tax planning early! As a busy college student, it’s easy to put off thinking about taxes until it’s time to file. That could cost you, however. You can only do so much about lowering your tax bill when you’re preparing your return. To make sure you’re not paying more tax than you should, be […]

Gift Tax: The Tax Implications of Supporting Adult Children

Gift Tax: The Tax Implications of Supporting Adult Children - TaxACT

Do you currently have your adult child(ren) living under your roof? If you support your adult children, or even give them a helping hand now and then, you’re not alone. In today’s tough job market, getting a good career started can take a little longer than planned. The last thing you need when you’re trying […]

6 Little-Known Ways to Pay Fewer Taxes

6 Little-Known Ways to Pay Fewer Taxes - TaxACT

You probably keep track of your itemized deductions, including mortgage interest and charity deductions. You may get a credit for childcare expenses, or take advantage of any of a number of common tax breaks. The tax code is complex, and there’s bound to be something that can lower your tax bill. What could you be […]

Renting vs Buying a Home

Renting vs Buying a Home - TaxACT

It used to be the American Dream wasn’t quite complete unless it included a small piece of land with a house they could call home. Part of retirement planning was to pay off that home and live in it in their old age. Times have changed! Today’s society is more mobile. We buy and sell […]

What the Capital Gains Tax Hike Means For You

What the Capital Gains Tax Hike Means For You - TaxACT

Are you thinking about selling a capital asset at a gain in 2013? A 5% difference in tax rates makes a huge difference in your after-tax rate of return on an investment. That’s how much your capital gains rate may go up in 2013. The highest rate on capital gains is now 20% – up […]

Not Having a Last Will: The Big Mistake Most Americans Make

Not having a Last Will The big mistake most Americans make

Do you have a last will and testament? Despite being told the importance of having a last will, more than half of all Americans die without one. Making a will is not usually difficult, and it can cost less than many people spend on their cable bill for one month. So why don’t more people […]

Affordable Care Act 2014 Premium Tax Credit and Penalties

Affordable Care Act 2014 Premium Tax Credit and Penalties - TaxACT

Can provisions of the Affordable Care Act help you pay for health insurance coverage? Yes! Starting January 1, 2014, you are generally required to have adequate health insurance or pay a penalty. The good news is that if your income is within certain limits, you may qualify for an advanced premium tax credit to help […]

4 Tax Tips For Newlyweds

4 Tax Tips For Newlyweds - TaxACT

Have you recently gotten married? Getting married changes everything – your tax filing status, how much tax you pay, and more. Utilize these tax tips for getting started off right in your married life. Use the right filing status As a married person living with your spouse, you only have two choices of tax filing […]

5 Year-End Tax Planning Tips for Self-Employed

5 Year-End Tax Planning Tips for Self-Employed - TaxACT

As a self-employed person, you have more control over your eventual tax liability than someone who only earns income as an employee. To take full advantage of that extra control, follow these 5 year-end tax planning tips: 1. Estimate your business income It’s absolutely essential that you find out where you stand tax-wise – before […]

4 Tax Planning Strategies for Parents

4 Tax Planning Strategies for Parents - TaxACT

Have you started your tax planning? If you wait until preparing your tax return to start thinking about tax planning, you’re missing some of your best opportunities to save money. To really make a difference on your refund or how much you owe for 2013, start thinking about taxes before the year ends. Take a […]

Affordable Care Act Tax Law Changes for Higher Income Taxpayers

New Affordable Care Act Taxes for Higher Income Taxpayers - TaxACT

Most taxpayers don’t need to worry about the new additional 3.8% tax on net investment income, or the additional 0.9% Medicare tax. These taxes only apply to individuals (and estates and trusts) that have income over certain levels. You generally won’t pay either of these taxes unless you make over $200,000 in one year. If […]