Many people treat a tax refund as “found money” or “free money.” What they don’t realize is that it’s their money, and always was. The money was an overpayment of taxes owed, which the government was happy to receive as an interest-free short-term loan. Once you start thinking of your tax refund as a portion …
Five Good Ways to Spend a Tax Refund, and Five Bad Ways Read More »
So, Congress has passed the tax deal and Obama has signed it. In case you weren’t paying attention to all the whining and cajoling that’s been going on for the last month, here’s what you need to do know about the “tax cut” as it’s being called. Your Tax Bracket Won’t Change The Bush-era tax …
Today we take a break from holiday stress for something new. Tax stress! The last two years, my husband and I completed the draft tax forms to make sure our withholding was correct. Both years, it wasn’t, so we made arrangements to fix that. Now is the best time to do a bit of tax …
Late last week, the IRS announced that it will no longer be mailing tax forms. Apparently, they only mailed the forms to 8% of the population last year, and not mailing the forms will save $10 million. That’s not a small amount. If you really, really, really want to file on paper, you’ll still be able …
It’s almost tax day. Have you filed already? Are you getting a refund or do you owe? If you’re getting a refund, how are you planning to spend it? Also, I have a special giveaway for you, my dear readers. Giveaway Details First, let’s start with a special Tax Day giveaway. On April 15, McCormick …
Tax Day Giveaway and How Will You Spend Your Refund? Read More »
The end of the year is just over two months away, and at least three weeks of that will be gobbled up by various holidays. So, take the time now to assess what you need to do to maximize your money by the end of the year. Spend Down Your FSA If you have a flexible …
5 Financial Steps to Prepare for the End of the Year Read More »
I spoke too soon! Shortly after I prepared my taxes, H&R Block offered me a copy of their online software to review. They also offered me five Premium edition codes to give away. This will allow you to file a free Federal online return using the Premium version of the software, a $55 value including sales tax. …
With the economy in a slump, more and more people are trying to take the home office deduction. Unfortunately, most of them don’t actually qualify and are setting themselves up for an audit. If you’ve taken the deduction already or wonder if you’re eligible, here’s what you need to know so you can have all …
If you’re getting a refund, you’ve hopefully already filed your tax return. Why let the government keep that money any longer than you need to? If you’re a procrastinator, I hope you’ll make use of online tax software – I have reviews of TaxAct, TurboTax, and H&R Block at Home to help you decide. And to keep you fueled …
I’ve purposely not looked at my 401K account this week. I did check it a month ago to see if I needed to rebalance. At that time, I’d lost 2% less than the broader market and was well-diversified, so I didn’t change anything. I still don’t plan to. There are still a few things you should …
401K and IRA Strategies During the Financial Crisis Read More »
