18 Tax Deductions for the Self Employed

Posted by Madison on April 12, 2018

Self 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 […]

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Do Your Kids Need to File Taxes?

Posted by Madison on March 1, 2018

Do 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, […]

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How Much Money Do You Have to Make to File Taxes?

Posted by Madison on February 8, 2018

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 2017 (and due in 2018). 2017 Minimum Income Requirements The IRS released the minimum income to file taxes in 2017. For […]

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What Do the New 2018 Tax Rates Look Like?

Posted by Madison on January 16, 2018

What do the new 2018 tax rates and 2018 tax brackets look like? President Trump originally proposed a new tax plan that would only have 3 tax brackets: 10%, 25% and 35%. However, the tax plan that Congress ultimately passed kept 7 tax brackets. The old tax brackets were 10%, 15%, 25%, 28%, 33%, 35% […]

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17 Tips for End of Year Tax Planning

Posted by Madison on December 13, 2017

Now 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 […]

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What is the Marriage Tax Penalty?

Posted by Madison on May 18, 2017

The 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 […]

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How to Calculate Self Employment Tax

Posted by Madison on April 17, 2017

Did 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 […]

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How Do Tax Brackets Work?

Posted by Jill on April 13, 2017

Are 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? […]

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Why You Should Learn About Taxes

Posted by Don on April 6, 2017

I 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 […]

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3 Simple Ways to Lower Your Taxes in Retirement

Posted by Don on March 22, 2017

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? […]

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