How much money do you have to make to file taxes? What is the minimum income to file taxes? Let’s take a look at the requirements for the minimum income to file taxes in 2018 (and due in 2019). 2018 Minimum Income Requirements The IRS released the minimum income to file taxes in 2018. For […]
18 Tax Deductions for the Self Employed
Posted bySelf employed tax deductions are an important part of offsetting your extra income when filing your federal tax return. For example, if you are flying for business, one of the 7 Commonly Overlooked Tax Deductions is baggage fees! An old business partner wanted to know what he needed to keep track of for his venture […]
Do Your Kids Need to File Taxes?
Posted byDo your kids need to file taxes? Usually filing taxes for the kids is an afterthought. Only after people scramble to finish filing in time for the tax deadline do they realize they didn’t even think about the kids. Will you remember to file taxes for your kids? If your kids earn interest and dividends, […]
What do the new 2018 tax rates and 2018 tax brackets look like? ***We will update this page soon with requirements for this year. If you need it updated right away, feel free to drop us a note! President Trump originally proposed a new tax plan that would only have 3 tax brackets: 10%, 25% […]
17 Tips for End of Year Tax Planning
Posted byNow that we crossed off End of Year Credit Card Reimbursements on our to-do list, it’s time for end of year tax planning! This is your annual reminder to get your financial house in order for tax season! What could be more fun than taking a break from holiday festivities and shopping to start thinking […]
What is the Marriage Tax Penalty?
Posted byThe marriage tax penalty exists when married couples have to pay more than double the taxes they would if they were two single people. This increased tax burden after marriage became known as the marriage tax penalty. It’s one of a handful of the financial consequences of marriage. The marriage tax penalty doesn’t apply to […]
How to Calculate Self Employment Tax
Posted byDid you recently start your own business and you need to learn how to calculate your self employment tax to file your tax return before the tax deadline? If you are an individual who is self employed, you have many advantages over people who are employed by companies. Of course, you get to set your […]
How Do Tax Brackets Work?
Posted byAre you getting ready to file your taxes? If so, you might find yourself needing a slight refresher on how tax brackets work before the tax deadline. The US tax system is based on a progressive rate structure – the more income you make, the higher tax rate you pay. How Do Tax Brackets Work? […]
Why You Should Learn About Taxes
Posted byI know, when it comes to taxes, most of us want to run the other way. But I am here to tell you that instead of running from taxes, you should embrace taxes. Am I crazy? I’m not sure as I’ve never been tested. But since taxes make up such a large part of our […]
Wouldn’t it be great to not have to worry about taxes during retirement? As great as that sounds, the reality is you are going to be paying taxes until the day you pass away. As the old saying goes, the only two certainties in life are death and taxes. But what taxes will you pay? […]