Tax Cuts and Jobs Act
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Taxes
What Are the New Tax Laws for 2019 Filing?
When individuals and households understand how they can take advantage of the modified tax laws, the savings are worthwhile.
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Taxes
Take Advantage of these Investment Tax Deductions
Below we'll go over investment tax deductions you may have overlooked, and the most effective ways to pay the least amount of taxes on your investments.
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Budgeting
The 2020 W-4 Changes: How Will It Impact Your Paycheck and Refunds?
Before sending out paychecks, a company is required to withhold payroll taxes for its employees. The amount is based on the federal withholding rate, minus “allowances” (i.e. credits or deductions), such as childcare expenses. Working individuals report these allowances on the Form W-4. However, the IRS is changing paycheck withholding rules because the 2019 W-4 filings created a lot of…
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Budgeting
Should You File Jointly or Separately?
Most married couples file their taxes jointly. This approach enables them to combine their income and utilize larger deductions or tax credits. For instance, the married filing separately child tax credit is much more limited in comparison to a joint return. Above all else, when you decide whether to file jointly or separately, it is important to keep in mind…
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Budgeting
The Best Online Budgeting Tools for Taxes
In a previous article, we outlined the advantages of using online budgeting tools for your taxes. We also discussed how the IRS customer service team may offer free support and guidance. These different tax-preparation methods can save you plenty of money and time, while enabling you to discover new deductions and credits. Some of the most prominent apps include PocketGuard,…
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Budgeting
Efficient Tax Planning: How and When You Should Do It
Two years ago, the Republican-controlled United States Congress passed the Tax Cuts and Jobs Act. The law, which President Donald Trump signed into effect, made filing taxes easier and simpler. Even more so when we consider the already existing online tax-preparation software, alongside some handy IRS customer service features. The picture, however, isn’t as rosy as it looks. In 2019,…
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