- What to Know About Part-Year Tax Withholding
If you’ve ever taken a look at your pay stubs you’ve probably noticed your employer’s tax withholding. Based on the W-4 form that you submit when you start a new job or your tax situation changes, your employer will withhold… read more…
- What Happens When Your Tax Return Is Flagged for Review?
Filing taxes can be stressful. When the IRS opts to take a closer look at your tax return, that can only increase your anxiety level. Getting your return flagged for review doesn’t mean you’ll be audited, but it can raise the… read more…
- What Is Minimum Essential Coverage?
The Affordable Care Act requires most Americans to have healthcare coverage. Unless you don’t have to file taxes or you qualify for an exemption, you’ll likely get stuck paying a penalty called the individual shared responsibility payment if you don’t… read more…
- How Turning a Hobby Into a Business Affects Your Taxes
Having a hobby can be a great way to unwind, but a hobby can take on an entirely new dimension if you can make money while you’re working at it. That’s because any money your side hustle brings in may be considered taxable… read more…
- The Economics of Zoos
Zoos are incredibly unique businesses, as they typically feature unique animals that have very distinct rules and regulations surrounding their captivity. For this reason, the economics of zoos is heavily muddied, as they involve major costs like park upkeep, national… read more…
- 5 Tax Rules to Consider When Paying Off Student Loans
Tax considerations should be front-of-mind when you’re paying off your student loan debt. Whether you have a standard repayment plan or you’ve signed up for an income-based repayment program, there are certain tax rules that affect student loan borrowers, including some… read more…
- Tax Form 1095-A Details
Form 1095-A is a tax document Americans need to file if they buy health insurance through the government health insurance marketplaces established by the Affordable Care Act (commonly known as Obamacare). This is not a form you will actually fill… read more…
- All About IRS Form 8965
If you’re claiming an exemption from healthcare coverage, you’ll need to fill out IRS form 8965 when you do your federal income taxes. This form helps you comply with Affordable Care Act rules that require health insurance coverage for just… read more…
- Reasons You’re Still Waiting on Your Tax Refund
A tax refund can come in handy when you need to pay down student debt or you want to pad your emergency savings. But waiting for the money to hit your bank account can be nerve-wracking. According to the IRS, most refunds are… read more…
- Head of Household Filing Status: Definition, Rules and Requirements
For IRS purposes, a head of household is generally an unmarried taxpayer who has dependents and paid for more than half the costs of the home. This tax filing status commonly includes single parents and divorced or legally separated parents (by… read more…
- Where Millennials Pay the Highest Taxes in 2016
Millennials, now the largest age cohort in America, are different than prior generations in a number of ways. They are less likely to get married, for instance. 65% of present day 18-to-35-year-olds have never been married, compared to the 40% of young adults who had never said “I do” in 1980. Another key difference between… read more…
- Payroll Tax Deductions
Payroll tax deductions are a part of the way income taxes are collected in the U.S.. When you work at a job, a part of your income is taken each pay period, based on a number of factors including your… read more…
- The Economics of the Lottery in the U.S.
If you’re reading this, chances are slim that you’ve ever won a lottery because the odds of winning are just so low. In 2021, Americans spent $105.26 billion on lottery tickets, making it the most popular form of gambling. That’s… read more…
- 11 Cities Where Homeowners Save the Most on Taxes in 2016
The home mortgage interest tax deduction is one of the most common deductions claimed on federal income tax returns, but that doesn’t mean most taxpayers are taking advantage of it. In fact, according to data from the Tax Foundation, only about 27% of all taxpayers deduct mortgage interest paid from their income when filing their… read more…
- What to Do If You Underpaid Your Estimated Taxes
Paying taxes is one of the most burdensome parts of being self-employed and one of the trickiest parts is figuring out just how much you need to pay. Instead of having an employer taking taxes out of your paycheck, you’re… read more…
- 5 Things You Shouldn’t Do If You Owe the IRS at Tax Time
While everyone hopes to come out even or get some money back when they file their taxes each year, sometimes people do end up owing money – and there is a smart way to go about dealing with that. Owing… read more…
- 5 Tax Benefits of Becoming a Landlord
Think your landlord has it made? Just wait until you find out about the tax breaks she’s eligible for. Owning a rental property certainly comes with its fair share of frustrations. When you consider what landlords stand to save on… read more…
- 2025 Child Tax Credit: What Will You Receive?
If you have children or other dependents under the age of 17, you likely qualify for the Child Tax Credit. In 2021, it was temporarily expanded as part of the American Rescue Plan, which was signed by President Biden in March… read more…
- States Leading the Charge on Renewable Energy
Renewable energy has been gaining steam in recent years. Windmills are popping up on ridges and in fields throughout the country, and solar panels are covering more roofs every day. From 2008 to 2013, the total energy produced by renewable sources increased by more than 25%, according to data from the Energy Information Administration. Try… read more…
- What’s the Standard Deduction for 2024 and 2025?
A tax deduction is a type of tax break that reduces the amount of money you owe the government. Tax deductions decrease your tax burden by lowering your taxable income and you can either claim the standard deduction or itemize your… read more…
- The Average Tax Refund in Every State
Tax season is upon us. While we all dread doing our taxes, for many Americans there is a light at the end of that dark tunnel: a tax refund. Not everyone gets one, and the refund itself is money that you as a taxpayer have technically overpaid during the course of the year. Nonetheless, it… read more…
- How to Do Your Taxes at Home
There are several good reasons to consider filing your own tax return. It can be cheaper than putting everything in the hands of a professional. You’ll learn how to lower your tax bill and you’ll be able to crunch the… read more…
- Tax Season Dos and Don’ts
Before you know it, tax season will be here again. If you’ve made a couple of mistakes on your tax forms in previous years or you’ve had to file for an extension on more than one occasion, this is the perfect time to right those wrongs. A financial advisor can help you optimize a tax… read more…
- 6 Factors That Affect How Much Income Tax You Pay
We all know that the salary we negotiate is not the same as our take-home pay. Between benefits, retirement contributions and taxes, the difference can be quite substantial. In the U.S., federal and often state and local governments collect income… read more…
- The Economics of National Parks
On March 1, 1872 Congress voted to establish Yellowstone National Park, the first national park. Today, there are over 400 national parks and over 20,000 National Park Service employees. Want to know more about these parks, how they’re funded and… read more…