Ten Red Flags That You’re Not Really Talking to the IRS
As Americans scramble to file their 2022 taxes by today’s deadline, the IRS has released its “Dirty Dozen” list of the most pressing scams to watch out for this tax season. However, instead of trying to keep up every year with all the new ways you can get scammed during tax season, it’s more efficient…
How Long to Keep Every Important Financial Document
I used to laugh when I received an official document that told me to “save a copy for your records.” My “records” were a pile in the living room that was eventually crammed into a filing cabinet with the owner’s manual for my TV and old birthday cards from my Nana. But an unexpected IRS…
Don’t Forget the New Federal Tax Deadline This Year
Photo: Tama2u (Shutterstock)According to a recent survey from Empower, only 44% of Americans know when the deadline is for filing your 2022 taxes, so let me set the record straight: Tax day is April 18 this year—if you’re a procrastinator, 2023 is granting you a three-day reprieve.The drop-dead date is April 18 instead of the…
How a Custodial Brokerage Account Can Help You Invest for Your...
It pays to start investing early. Even if your kid isn’t yet old enough to count, let alone make savvy financial decisions, you can give them a head start by investing for them now. Many online brokers offer custodial accounts designed to allow a parent to make investments in their child’s name. When your kid…
You’re Probably Eligible to File Your Taxes for Free
Photo: Ground Picture (Shutterstock)As if paying your taxes wasn’t painful enough, paying to file your taxes adds insult to injury. How much you pay for tax preparation depends on several factors, like how complex your taxes are and what type of service you use. But you might be in luck: Most people qualify to do…
Here’s the Latest Date You’ll Receive Tax Forms This Year
Photo: fizkes (Shutterstock)The due date for filing your 2022 taxes is creeping up. The last thing you want is to be nearly done filing, only to realize you’re missing a critical form. Did you misplace it? Did it never arrive? Is it still in the mail and you’re freaking out for nothing?You can avoid this…
Here’s What Every Line of Your Paycheck Actually Means
With the convenience of direct deposit, most of us never look at our pay stubs—but maybe we should. Whether you’re earning a salary or an hourly wage, your paycheck contains important information, and may reveal tax errors, accounting mistakes, or that your employer is shorting your wages.In fact, according to HuffPost, discrepancies on your paycheck…
These Numbers Will Convince Your Teen to Start Saving for Retirement
Photo: BearFotos (Shutterstock)It’s never too late to start saving for retirement, but anyone who starts early sure does get a huge advantage. The reason for this is compound interest, which we’ll run the numbers on below. If you’ve been waiting to invest in your retirement until you check off other financial goals (cough cough, students…
What Freelancers Can Write Off on Their Taxes in 2023
Photo: puhhha (Shutterstock)When you are self-employed or freelance outside of your day job, there are additional taxes you need to navigate. While this sounds like (and often is) a killer headache, you also have the opportunity for unique tax breaks. There are plenty of significant deductions you don’t want to miss out on as a…
Don’t Call the IRS This Weekend Unless You Absolutely Have To
Photo: Paul Brady Photography (Shutterstock)If you have a tax question, this weekend is the absolute worst time to try to get someone from the IRS on the phone. According to a press release from Feb. 16, Presidents Day weekend is historically the busiest time of year for the IRS phone system. Luckily, there are ways…
