Tax deductions
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Taxes
Taxes: How to Pay the IRS
There are several ways to pay the IRS, including via check or wire transfer.
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Budgeting
6 Simple Ways to Increase Your Net Worth
Every financial move you make should be made with an aim to increase your resulting net worth. To do this, you must either increase your assets or decrease your liabilities.
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Budgeting
Should I Open a Custodial Stock Account?
A custodial stock account is a great way to start saving for a child, especially when you don't want to worry about setting clear financial objectives and following spending restrictions.
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Taxes
How to File Taxes for Beginners
Filing must be done by both individuals and businesses that have an income to report that falls under any of the stipulated categories.
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Insurance
What Is Corporate Owned Life Insurance?
Corporate owned life insurance has many advantages over traditional policies. Bank owned life insurance policyholders, for example, can borrow against the plan's cash value.
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Budgeting
What Are FSA Funds?
What are FSA funds? What happens to unused FSA funds? In short, they're your medical costs for the next 12 months and, at the same time, a sizable portion of your paycheck.
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Taxes
A Guide to Doing Your Taxes
It is completely mandatory, but it can also be a somewhat intimidating and complex process.
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Budgeting
Should I Get a Medical Credit Card or an HSA/FSA?
A medical credit card gives patients the opportunity to manage their money and build credit when they pay for health care costs. Meanwhile, medical savings account rules allow you to deduct deposits and expenditures from your taxes.
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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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