Solutions to Make Better Decisions with Your Taxes and Money

How to Lower Next Year’s Tax Bill

Writing a check to the IRS to cover your tax bill is never a fun experience. But, there are a few things you can do to avoid having to do so in the future. Check out these tips to lower next year’s tax bill:

5 Shortcuts to Creating a Budget That Sticks

We know we need budgets. They’re absolutely essential to good management of our finances. However, creating a budget is also the last thing most of us want to do. Many times we have no idea where to start. The idea of budgeting sounds like hours of time spent tracking every dime spent, or worse, keeping us […]

Small Business Week — 7 Strategies for Saving and Tax Planning

National Small Business Week Edition. National Small Business Week, organized by the Small Business Administration, recognizes the contributions of entrepreneurs and small business owners across the nation for the critical impact they have on the overall economy and job creation. “National Small Business Week is a chance to honor our nation’s 28 million small businesses and […]

Reduce Your Tax Bill with the Earned Income Tax Credit

The Earned Income Tax Credit, or EITC, is a credit designed for lower income working individuals, particularly those with children. If a person qualifies, the EITC can reduce any taxes owed and increase their tax refund. The credit amount a person can receive from the EITC depends on their income level and the number of children […]

Your Complete Guide to Filing Form 1041, U.S. Income Tax Return for Estates and Trusts

IRS Form 1041 is an income tax return for estates and trusts, similar to Form 1040 for individuals. If you are the executor for an estate, you may be required to file Form 1041 – U.S. Income Tax Return for Estates and Trusts. Form 1041 must be filed for the person who died in addition […]

5 Ways to Avoid Bumping Your Income into a Higher Tax Bracket

What can you do to avoid paying higher tax rates when you have a year with more income? If your income level fluctuates from year to year, you may find yourself paying more than you expect at tax time. That’s because when you have higher income, your income may be bumped into another tax bracket, […]

5 Do’s and Don’ts for an Energy-Efficient Home

Fall will be here before we know it, which means higher energy bills are only a few months away. Fortunately, while the weather is still warm, there are a variety of home improvements you can do now to save money this winter. But, before you break out the hammer and nails, keep in mind not […]

7 Personal Spending Pitfalls and How to Avoid Them

When it comes to controlling spending, sometimes everything seems to be working against us. There are so many ways to spend money – and so many reasons it’s difficult not to. It’s possible to take control of your spending, however. Many people have done it. Take a look at these personal spending pitfalls and how […]

Is Cancelled Debt Taxable?

If a credit card company or other creditor cancels your debt, that’s really good news, right? Such cancellation of debt usually happens when the creditor gives up on collecting the debt, or when the statute of limitations on collecting the debt runs out. Cancellation of debt is not all positive news, however. Aside from the […]