Solutions to Make Better Decisions with Your Taxes and Money

5 Things You Didn’t Know Were Taxable

When you think of taxable income, the first things that come to mind are most likely wages, including self-employment income, and perhaps capital gains and interest income. As you prepare your taxes, however, you may discover additional types of taxable income that could take you by surprise. Check to see if any of the following […]

Roth vs. Traditional 401(k) – What’s the difference?

When you start working at a new company, you typically have a few money decisions to make during those first days on the job. One of those decisions is often whether you want to sign up for a Roth 401(k) or a traditional 401(k) plan.  While you may understand having a retirement plan is important, how […]

6 Things You Should Know About the Alternative Minimum Tax (AMT)

Don’t let the alternative minimum tax catch you by surprise. The Alternative Minimum Tax (AMT) was created in 1969 to keep a small number of wealthy taxpayers from using tax loopholes to avoid paying any tax at all. Instead of closing the loopholes, Congress came up with a plan to calculate a person’s tax two […]

A Quick and Easy Guide to Filing an Income Tax Return for an Estate (Form 1041)

If you’re the personal representative for someone who is recently deceased, you may need to file Form 1041, Income Tax Return for Estates and Trusts, for their estate. However, not every estate requires an estate tax return. Sometimes, all you need to do as a personal representative is make sure an individual income tax return […]

5 Popular Money-Saving Tax Deductions

You can spend a lot of time determining which tax deductions will benefit you most throughout the year – and usually, that’s time well spent. For example, if you’re in the 25 percent tax bracket, every dollar you find in deductions may save you close to 25 cents in taxes. Let’s take a look at […]

What IRS Forms 1095-A, 1095-B and 1095-C mean for you

*Updated for tax year 2016 Aside from Form W-2 and the usual tax documents that find their way into your mailbox during tax season, you may also receive a version of Form 1095, which is related to the Affordable Care Act. While many of us already understand what these forms mean, others are still trying to decipher what to […]

5 popular tax credits: do you qualify?

There’s a good reason why people love tax credits. Unlike tax deductions, which lower your taxable income, tax credits lower your tax bill dollar for dollar. However, not every tax credit is the same. There are two different categories – nonrefundable and refundable.

5 Tax Tips Millennials Can Use to File Stress-Free

No matter what 2016 looked like for you, there are many ways you can get more back from Uncle Sam this tax filing season. Check out these tips designed to help millennials, like you, get your biggest refund.

7 Tax Filing Tips Parents Need to Know

The Internal Revenue Service (IRS) offers many deductions and credits that benefit parents and other taxpayers who claim dependents. To take advantage of these tax breaks, here are seven tax filing tips you need to know.