Annuities and Taxes: What You Need to Know
If you’ve ever looked into ways to build retirement income, chances are you’ve stumbled across annuities. But then you probably…
TaxAct Blog: Explore All Articles
8 Things to Know About an IRS Notice
If you receive a letter this year from the IRS, don’t be alarmed. After every tax season, the agency sends out…
Taxable vs. Nontaxable Income: What’s the Difference?
Updated for tax year 2024. If you receive money, goods, or services, it’s likely considered taxable income. This is true…
Tax Breaks for Teachers: How to Claim the Educator Expense Deduction
Teachers are always looking for creative ways to enhance their students’ learning experience. Unfortunately, tight school budgets stifle many of…
Sole Proprietorship vs. LLC: Which Business Structure is Right for You?
When starting a business, it’s important to choose the right business structure. What type of business you choose can significantly impact…
9 Surprising Health Expenses Covered by Your HSA or FSA
You probably know that you can use your health savings account (HSA), health flexible spending arrangement (FSA), Archer medical savings…
How to Save for Retirement When You’re Self-Employed
Being your own boss comes with a variety of perks, but it also forces you to handle work typically taken…
Buy or Lease? An In-Depth Look at the Costs of Buying and Leasing a Car
Updated for tax year 2024. Are you ready for a new set of wheels? A new vehicle is a significant expense…
How to File Your Basic Federal Tax Return for Free
Updated for tax year 2024. We get it, filing your taxes is a chore you’d rather not do. That’s why TaxAct® makes…
Avoid IRS Penalties and 6 More Reasons Not to Wait Until the Last Minute to File
The last day to file your 2024 federal tax return is April 15, 2025. If you’ve procrastinated on completing your…
How to Avoid Delays When Filing Your 2024 Tax Return
Both taxpayers and the IRS sometimes face challenges when filing and processing federal tax returns. To help you out, here…
Don’t Be Afraid to File Your Own Taxes If You’re Self-Employed
When it comes to “being your own boss,” Americans seem to have it covered. According to the Bureau of Labor…