How to Prevent Tax-Related Identity Theft
Today is tax day, which means that Americans will soon be receiving their tax refunds, if they haven’t already. Tax refunds are a common reason for fraudsters to commit tax-related identity theft — here are some tips to follow to protect...
Filing a Tax Extension – 6 Simple Tips
The April 15 tax filing deadline is fast approaching! However, if you don’t think you can finish your 1040 tax return by the due date, there is no reason to panic. You can simply file a tax extension, which will give you a six-month extension (until October...
When Does Married Filing Separately Make Sense?
Picking your first house, learning about each other, planning for your future – of the many joys of marriage, sitting down and figuring out how you’ll prepare taxes is not usually one of them. If you’re married, there are two options for your filing...
Tax Benefits of Marriage: What Are They…Really?
A common question we get as financial advisors is: what are the tax benefits of marriage? Yet, as people plan for their big wedding day, the last thing on most couples’ minds is taxes. However, marriage can have a big impact on a couple’s financial...
IRA Tax Deduction – Do You Qualify?
Clients often ask if they qualify for an IRA tax deduction. Individual Retirement Arrangements, more widely known as Individual Retirement Accounts (IRAs), are one of the most popular retirement savings tools in America in addition to 401ks. It’s no surprise...
How to Reduce Taxable Income: Can The Average American Pay No Taxes?
Is it Possible to Reduce Taxable Income for a $0 Tax Bill? Most people grow accustomed to the big chunk of federal income tax withheld in each paycheck. The more you make, the more the IRS withholds. As a tax specialist at Personal Capital, I often get the...
What is a 1099 Form?
What is a 1099 Form — And Why Are They Important? As you pull together all the documents you’ll need to prepare your federal tax return for the 2018 tax year, you may have received an IRS form 1099. But you might not be clear on exactly what this tax form is...
How Will Tax Law Changes Affect Me in 2019?
Tax Law Changes: 2019 For a complete guide to filing your income taxes from the 2018 tax year, read our 2019 Tax Guide. How Tax Law Changes Could Affect Your 2018 Income Tax Return The tax-filing season that just got underway is the first one under the major...
10 IRS Audit Triggers
Tax season sneaking up on you? Read our complete guide to filing your income taxes. You may have recently read that the IRS is conducting fewer audits due to budget cuts. But, keep in mind that audits do happen, and that your last three tax returns are...
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