How Trump’s Childcare Plan Will Affect You

Aliyyah Camp

With the high cost of child care in America, it’s no wonder that this was a major issue of concern in the election. During his campaign, Donald Trump released a fact sheet detailing his child care plan. Now that his presidency is solidified, let’s take a look at how the proposals in his plan work […]

Published or Updated: November 16, 2016

5 Tax Deductions You Don’t Want to Miss for the End of the Year

Now that the year is almost over, it’s the perfect time to boost your tax efficiency with a few extra deductions. The good news is that there is still time to reduce your tax liability for this year — as long as you act fast. Here are 5 tax deductions you don’t want to miss […]

Published or Updated: November 7, 2016

Do You Need a Sole Proprietorship, an S Corp, or an LLC?

Aliyyah Camp

Creating your own small business is a huge endeavor, which comes with a number of important decisions. One of the most important decisions you’ll need to make is how you structure your business. This choice will have major legal and tax implications down the road. Choosing between a sole proprietorship, LLC, and S Corp for […]

Published or Updated: October 31, 2016

2017 Federal Income Tax Brackets, Deductions, and Exemption Limits

Stephanie Colestock

The end of the year is upon us, and this means that you’re probably starting to think about the 2016 tax season. You know, the start of the new year, when we begin preparing our taxes from the calendar year (2016) that just ended. Well, the IRS decided to throw you a curveball this week […]

Published or Updated: November 7, 2016

The Most Common Tax Deductions: What You Need to Know

Evan Gautier

Let’s face it: Fall is already upon us. By now, the kids are all back in school, the weather is changing (unless you’re here in California), and you’ve likely been enjoying your favorite pumpkin-flavored coffee beverage for a few weeks. Where did the year go? If you are anything like me, you have begun thinking […]

Published or Updated: October 3, 2016

How to Save Money on Taxes By Retiring Early

Chris Mamula

Early retirement offers many benefits. The obvious benefit, of course, is . . . well, retiring early. But perhaps a less obvious benefit would be the tax advantages available to early retirees. The advantages are often hidden behind the complexity of the tax code. A quick Google search claims that the U.S. tax code is […]

Published or Updated: August 31, 2016

How to Value Your Non-Cash Donations Come Tax Time

Clutter can be overwhelming. It’s easy to let outgrown and unused things pile up over the years, especially if you’re not sure what to do with them. One way to clean out your closets, give back, and save money on your taxes is to donate non-cash items to charity. Whether you’re cleaning out your kids’ […]

Published or Updated: August 24, 2016

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

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