If you work at a job where you normally receive tips, you understand how that money can quickly become an important part of your income. However, according to the Internal Revenue Service (IRS), tip money is also taxable. For that reason, it’s important to know how the IRS expects you to report tip income, so […]
How to Track Self-Employed Expenses All Year Long
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Numerous advantages come with being your own boss. For starters, you can set your own hours and vacation schedule. It gives you the flexibility to work remotely and spend some time enjoying a nomadic lifestyle. In fact, you may not have to change out of sweatpants for an entire day! But, those perks aside, there […]
7 Steps to Complete a Mid-Year Financial Check-Up
Annual wellness check-ups are a great way to keep tabs on your health and ensure you’re making the right choices for your mind and body. But, when it comes to your personal well-being, are annual check-ups only for your physical health? What about your financial well-being?
The Basics of the Simplified Home Office Deduction
If you have a small business and work at home, you probably know you can take a deduction for the expenses of your home office. However, it’s surprising how many people don’t take this deduction when it comes time to file their tax return. All too often, taxpayers pass it up because it seems like […]
The Beginner’s Guide to Form W-4 and Tax Withholdings
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amy.ba When you start a new job as an employee, your new employer typically asks you to complete Form W-4, Employee Withholding Allowance Certificate. This document is a two-page form from the Internal Revenue Service (IRS). It tells your employer how much money to take out of your paycheck to cover income taxes.
What to Expect When You Meet with a Financial Advisor
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Whether you’re struggling to reach your financial goals or have a good start toward wealth prosperity, meeting with a financial advisor is a great way to determine a long term money strategy for you.
4 Ways to Manage Old Employer-Sponsored Retirement Plans
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If you’re like most Americans, you’ve changed employers a few times throughout your working career. In fact, the average person switches jobs 12 times during his or her lifetime! While job hopping can get you a variety of experience, it can also create some complexity managing your finances – specifically when it comes to the […]
First Time Homeowners: Adjust Your Tax Withholdings
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If you recently bought your first home, you probably heard you can reduce your tax liability by deducting your home mortgage interest and property taxes on your return. However, there’s no need to wait until you prepare your taxes next year to find out how much money you’ll save. In fact, you can put more […]
Keep More of Your Money: Adjust Your Tax Withholdings
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Every year millions of Americans jump for joy when they receive their tax refund from Uncle Sam. And, rightfully so. There’s nothing better than feeling a bit more financially secure when you see that “extra” cash hit your bank account. But, what you may not realize is that “extra” money was already yours to begin […]
