What to Do When You Made a Mistake on Your Taxes

I have an embarrassing confession to make: I forgot a W-2 on my 2015 taxes. True story. I write about this stuff for a living, and I completely left out an entire W-2 from my taxes. Oops. I discovered this mistake when my husband and I applied for a mortgage in April. I’d already filed the […]

Published or Updated: August 10, 2016

Social Security Contribution Limits for 2016

Each year we track changes in the social security tax contribution limits. This year, for the first time in five years, the income limit will not change. It rose from $117,000 in 2014 to last year’s $118,500, but will remain the same for 2016. In 2011 and 2012, employees were lucky enough to only pay […]

Published or Updated: May 31, 2016

Tax Credits and Deductions for a College Education

If you’re a college student, are paying off student loans, or have a child in college in 2016, be sure to look out for education-related tax deduction and credits when you file your taxes next year. The IRS names several available deductions and credits related to college expenses, including student loan interest. I’ll break down […]

Published or Updated: May 21, 2016

Owe the IRS Big Money? Learn How to Solve Your Problem Here

R.C. Thornton

Note: This article is written by R.C. Thornton. He runs a tax relief company, and I had the chance to interview R.C. on the podcast. You can listen to the interview here: Did you know that 13 million Americans owe the IRS money right now? It’s a sad story that has played out millions of […]

Published or Updated: May 9, 2016

5 Tax Moves to Make Now (Yes, After Tax Day)

With April 15th behind us, taxes are probably the last thing on your mind. They shouldn’t be. If you only think about taxes at the beginning of April, you’re missing out. Making the right tax moves now – even after tax day – will help improve your tax situation next year. At a minimum, planning […]

Published or Updated: April 19, 2016

How to Get An Extension of Time to File Your Tax Return

Recently I Interviewed Mark Steber, Chief Tax Officer at Jackson Hewitt. The interview focused on last-minute tax tips, but he also discussed some tips on how to file an extension of time for your income tax return. Filing for an extension is a simple process for the most part. That is, as long as you […]

Published or Updated: April 5, 2016

TaxAct Review: An Affordable DIY Tax Option

If you’ve been looking for a cheaper way to get your taxes done, TaxAct could be the online software for you. It’s more affordable than many other software options out there, and it could prove especially helpful if you’re preparing your own taxes for the first time. Getting Started To start with TaxAct, you’ll have […]

Published or Updated: February 26, 2016

Guide to Filing Your 2015 Income Taxes

For the 2015 income tax filing season, here is some important information that you will need to prepare your return. The list summarizes a number of common questions. Additional research may be needed to determine the degree to which each question applies to your personal situation. What are the key dates for the 2015 tax […]

Published or Updated: January 29, 2016

Comparing The 5 Best Tax Software Programs

More than 27 million taxpayers used computer software to e-file their taxes from home in 2014. Being that was two years ago, I’d venture a guess that the number has gone up since then. So, why the huge jump in e-filing taxpayers? The federal “Free File” program may be one answer. Free File is an alliance between the […]

Published or Updated: February 6, 2016

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