Solutions to Make Better Decisions with Your Money

Student Loan Interest Rate Changes: How They Affect You

Student Loan Interest Rate Changes: How They Affect You - TaxACT

Student loan interest rates are doubling! Should we panic yet? Or is this just the scare of the month? It’s a little of both, actually. Here’s how the student loan interest rate change may affect you.

Is It Crazy to Buy Gold Coins For Investments?

Is it crazy to buy gold coins for investments? - TaxACT

Have you ever wanted to buy gold coins for investing? Or maybe just as a hobby? In the days of instant, online stock trading and financial accounts, sometimes money seems almost make-believe. We no longer even have a passbook to hold on to. We certainly never see most of our money as a tangible object. […]

Turning Your Hobby Into a Business: Do You Have What It Takes?

Turning Your Hobby Into a Business: Do You Have What It Takes? | TaxACT

Have you ever thought about turning something you enjoy, something you would do even if it didn’t make any money, into a way to make a living? Who hasn’t? Many people take a hobby they’ve been dabbling in for years, such as glass blowing, antique collecting, or dance exercise, and turn it into a full-time […]

The Secret to Financial Success

Thinking Long Term: The Secret to Financial Success by Sally Herigstad | TaxACT

Do you think about your future? Where you’ll be (want to be) in 5, 10 or 15 years? The biggest secret to financial success – or success in any endeavor – is to think farther ahead than most people do. To illustrate how that works, think about kids growing up. They gradually become able to […]

5 Reasons Not To Touch Your Retirement Funds

5 Reasons Not To Touch That Retirement Fund - TaxACT

When you’re short on money – whether it’s due to unemployment, illness, or just the urge to buy a new motorcycle – it’s easy to start eyeing your retirement funds. After all, you’ve been contributing to them all these years. And it’s your money. If your account has gone up in value – lucky you […]

Weekly Favorites: Mortgage Deductions, Family Loans, Tax Rules on Early Retirement Plan Withdrawals

TaxACT Weekly Favorites

TaxACT’s Weekly Favorites: May 17, 2013 Where The Mortgage Deduction Really Pays via CNN Money The mortgage interest deduction is one of the most expensive tax breaks on the books, but its benefits are distributed unevenly across the country, according to a new report by the Pew Charitable Trusts. Continue reading… Family Loans: Does The IRS […]

Family Loans: Does The IRS Care If I Lend My Kids Money?

Family loans: Does the IRS care if I lend my kids money? by TaxACT

You might lend your kids money from the time they are little – to buy a bicycle, to get that first car, or to buy a house. Does the IRS have anything to do with these family loans? For small loans, the answer is “no.” The IRS isn’t concerned with most personal loans to your […]

Gift Tax: Do I have to pay gift tax when someone gives me money?

Gift Tax: Do I have to pay gift tax when someone gives me money? - TaxACT Blog

Updated for Tax Year 2014 Surprise – Mom and Dad gave you a nice check! Maybe it’s enough for dinner, or maybe it’s more of an “early inheritance.” Either way, do you need to worry about paying tax on your gift? Annual limits before the IRS takes notice First, a gift must be quite substantial […]

Tax Do-Overs: Filing an Amended Return

Tax Do-Overs: Filing an Amended Return - TaxACT

It happens. Just when you think tax season is over and you can forget it, you discover a mistake or omission on your income tax return. You probably need to fix it by filing an amended return with the IRS. When to file an amended return You should file an amended return whenever you discover […]

Need More Time? File for a Tax Extension

Need More Time? File for a Tax Extension - TaxACT

Do you need just a little more time to gather the information for your income tax return? Or, truth be told, have you not even started yet? Don’t worry – it’s easy to get an extension to file your return. You just need to tell the IRS you need more time, using Form 4868, Application […]

10 Tips for Taxpayers Who Owe Money to the IRS

10 Tips for Taxpayers Who Owe Money to the IRS - TaxACT

Have you received a letter from the IRS stating that you owe them money? Sooner or later, chances are that you’ll get mail from the Internal Revenue Service. Nobody likes to get that thick envelope full of notices. Before you let that letter ruin a perfectly good day, however, take note of these tips: 1. […]

5 Last-Minute Tax Tips

5 Last-Minute Tax Tips - TaxACT

You’re almost ready to file your return. Is there anything you should do before you send it to the IRS? The following are 5 tax tips to ensure your taxes are in good order: Make sure your return is correct The best thing you can do to make sure your tax return is correct is […]

Weekly Favorites: Tax Scams of 2013, Tips for Using Form 1099-B, Bets are Taxable, 7 Things to Check When Filing Taxes

TaxACT Weekly Favorites: March 29, 2013

Weekly Favorites: March 29, 2013 Don’t Fall for These Dirty Dozen Tax Scams of 2013 via Don’t Mess With Taxes It’s tax-filing season, so you know what that means. It’s also peak tax scam season. In addition to collecting Americans’ tax returns (and money) this time of year, the Internal Revenue Service also keeps an eye […]

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