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Welcome to the exciting world of the gig economy, where flexibility meets opportunity — and more tax obligations. The gig economy has exploded in recent years, with more taxpayers opting for the freedom… Read more: Comprehensive Guide to Filing Taxes as a Gig Worker

Last updated April 21, 2025. The Internal Revenue Service (IRS) has announced tax relief for taxpayers in areas impacted by recent federally declared disasters. Find out if you qualify by finding your state… Read more: IRS Extends Tax Deadlines in Some States Due to Natural Disasters

Updated for tax year 2024. If you’re even a moderately successful freelancer, you likely know must file a tax return and pay taxes on your income. But which tax forms do you need… Read more: 5 Self-Employed IRS Tax Forms

So, you’ve found a side hustle to bring in extra income — maybe it involves dog walking, livestreaming your video game wins, or even selling feet pics online. Whatever your gig, if money’s… Read more: Weird Gigs, Real Taxes: 5 Odd Jobs with Taxable Income

Updated for tax year 2024. Got a big tax refund this tax season? You’re not alone. Many American taxpayers see their tax return as a once-a-year financial boost — and how you use… Read more: 6 Smart Ways to Invest Your Tax Refund This Year

If you’ve ever looked into ways to build retirement income, chances are you’ve stumbled across annuities. But then you probably hit a wall of confusing jargon — annuities, qualified plans, tax-deferred growth, RMDs,… Read more: Annuities and Taxes: What You Need to Know

If you receive a letter this year from the IRS, don’t be alarmed. After every tax season, the agency sends out a variety of notices to taxpayers. Not every letter means there’s an impending audit coming… Read more: 8 Things to Know About an IRS Notice

Updated for tax year 2024. Members of the U.S. Armed Forces undoubtedly face a variety of unique financial challenges. From serving overseas for extended periods and traveling for training to moving frequently and… Read more: 7 Tax Tips Military Members Need To Know

Updated for tax year 2024. If you receive money, goods, or services, it’s likely considered taxable income. This is true for any money you earn, as well as interest and dividends you receive… Read more: Taxable vs. Nontaxable Income: What’s the Difference?

Teachers are always looking for creative ways to enhance their students’ learning experience. Unfortunately, tight school budgets stifle many of those efforts, and educators are often forced to spend their own money on… Read more: Tax Breaks for Teachers: How to Claim the Educator Expense Deduction

When starting a business, it’s important to choose the right business structure. What type of business you choose can significantly impact everything from your taxes to your legal liability. Two of the most common… Read more: Sole Proprietorship vs. LLC: Which Business Structure is Right for You?

Unemployment benefits can be a vital support for those experiencing unexpected job loss. If you received unemployment compensation for the first time in 2024, you may be wondering how it will impact your… Read more: Is Unemployment Compensation Taxable Income?

Not all small business owners need an employer identification number (EIN), but it may be beneficial to get one anyway depending on your situation. Here’s what you need to know about applying for… Read more: What is an EIN and Why Do I Need One?

Selling on Etsy® may be a fast and easy way to get into business for yourself. But make no mistake — getting started in online sales may be quick and easy these days,… Read more: How to Report Income to the IRS as an Etsy Seller

You probably know that you can use your health savings account (HSA), health flexible spending arrangement (FSA), Archer medical savings account (Archer MSA), or health reimbursement arrangement (HRA) to pay for medical expenses… Read more: 9 Surprising Health Expenses Covered by Your HSA or FSA

If you work as a caregiver in someone’s home — as a babysitter, nanny, pet sitter, or nurse, perhaps — are you considered an employee? Understanding the distinction between household employees and independent… Read more: How to Tell If You’re a Household Employee

Being your own boss comes with a variety of perks, but it also forces you to handle work typically taken care of by a human resource or finance department. For example, you must… Read more: How to Save for Retirement When You’re Self-Employed

If there’s one thing many of us don’t want to see in our mailbox, it’s a letter from the Internal Revenue Service (IRS). Even worse, we don’t want to get a letter from… Read more: 5 Reasons to Stop Worrying About a Tax Audit

If you work at home, you’ve probably heard about the home office deduction and its many tax benefits. But who exactly qualifies for this deduction, and how does it work? In this comprehensive… Read more: The Home Office Deduction: A Comprehensive Guide

Updated for tax year 2024. It’s easy to put off filing your taxes. Life is jam-packed with places to be and things to do, and finding time to organize your tax information and… Read more: What Happens If You Don’t File Taxes?

Have you joined the ranks of Instagram® influencers, bloggers, and content creators on platforms like YouTube® and TikTok®? If so, it’s crucial that you understand how to file taxes as a content creator.… Read more: How to File Taxes for Content Creators and Influencers

Updated for 2024. Driving for Uber® or Lyft® can be a great way to earn extra income, but tax season can be confusing for new drivers. Since rideshare drivers are considered independent contractors,… Read more: Maximizing Your Tax Deductions as an Uber or Lyft Driver

Updated for tax year 2024. Do you need more time to file your business return this year? No sweat — that’s what tax extensions are for. Read on to learn more about filing… Read more: Your Guide to Filing a Business Tax Extension

Gathering all your tax forms is crucial to filing an accurate income tax return. But what happens when the tax deadline is approaching, and some tax documents, such as your Form W-2, are… Read more: What to Do If You Didn’t Receive Form W-2

Social Security benefits are crucial to many Americans’ retirement plans, providing a safety net to ensure financial stability during your golden years. But are Social Security benefits subject to taxation? Let’s dive into… Read more: Guide to Social Security Taxes

Tax documents can take up a lot of space in your filing cabinet, but many of us are wary of throwing them away. If fears of a tax audit or identity theft live… Read more: How Long to Keep Tax Records and How to Dispose of Them

Do you pay someone to care for your child or another dependent while you work or look for work? If so, you could qualify for the Child and Dependent Care Credit (CDCC), a… Read more: Form 2441 FAQs: The Child and Dependent Care Credit

Updated for tax year 2024. Are you ready for a new set of wheels? A new vehicle is a significant expense that requires careful consideration for most families. If you’re on the fence about… Read more: Buy or Lease? An In-Depth Look at the Costs of Buying and Leasing a Car

Updated for tax year 2024. We get it, filing your taxes is a chore you’d rather not do. That’s why TaxAct® makes the tax prep process as seamless and easy as possible for taxpayers. You… Read more: How to File Your Basic Federal Tax Return for Free

Investing is a powerful way to grow your wealth, but it also comes with tax implications that every taxpayer should understand. Whether you invest in stocks, bonds, mutual funds, or other assets, your… Read more: Taxes on Investments: What Investors Need to Know

Picture this: You’re DIYing your taxes like usual, but suddenly the realization hits you — you’re not getting a refund this year. Instead, it looks like you’ll owe a hefty chunk of change… Read more: Do Tax Extensions Give You More Time To Pay Your Tax Bill?

The last day to file your 2024 federal tax return is April 15, 2025. If you’ve procrastinated on completing your taxes for the year, don’t put it off any longer! Here’s why you… Read more: Avoid IRS Penalties and 6 More Reasons Not to Wait Until the Last Minute to File

We all know how important it is to save for retirement. If you’ve started contributing to a retirement plan, at work or on your own, the next thing you’ll want to know is… Read more: How Retirement Contributions Impact Your Tax Bill

Do you need more time to file your income tax return? Don’t sweat it — with TaxAct®, it’s easy for taxpayers to get a tax extension. E-file your IRS tax extension form for… Read more: How to File a Tax Extension

Getting married changes many aspects of your life, including how you file your taxes. Choosing the right tax filing status can significantly impact your tax refund, tax liability, and eligibility for certain tax… Read more: Filing Taxes for Married Couples: Benefits and Tips

Updated for tax year 2024. If you’re like most taxpayers, you receive salary and wages from your employer and never have to worry about how to make estimated tax payments. Even if you… Read more: How to Calculate and Make Estimated Tax Payments

Updated for tax year 2024. If you are a taxpayer who makes quarterly estimated tax payments to the Internal Revenue Service (IRS), you probably determine how much you should pay each quarter at… Read more: Guide to Adjusting Your Self-Employed Estimated Tax Payments

Updated for tax year 2024. No matter what self-employment looks like for you, you’re responsible for ensuring the taxes on your net earnings are paid to the Internal Revenue Service (IRS). And the… Read more: How to Calculate the Self-Employment Tax

When someone close to us passes away, sorting through the financial side can feel overwhelming. The good news is most people don’t need to stress about inheritance tax — at least not at… Read more: A Complete Guide to Inheritance Tax and How It Works

Planning for what happens after you are gone is never an easy topic, but it’s an important one. Whether you’re trying to protect your loved ones from financial stress or simply want to… Read more: 10 FAQs About Estate Taxes and Inheritance Planning