Yesterday the IRS answered this long standing question about the taxation of virtual digital currency, announcing that virtual digital currency like Bitcoins should be taxed as property instead of currency for federal tax purposes and the same rules that apply to property transactions like the sale of stocks apply to virtual currency. So what does this mean for you if you’re a tech savvy taxpayer dabbling in trading this form of currency? Full story
If you are a Millennial, you might be filing your taxes for the very first time, or perhaps this is only your second or third time filing taxes. As you get ready to file your taxes, here are some last minute things to keep in mind: Full story
With tax season here and many people expecting a tax refund, I thought it would be fun to list some of the smartest (and dumbest) ways you can spend your money. Full story
Whether you’ve been away at college, have your first job, or you’re still living at home with your parents you’ve probably heard something about the new health care law, the Affordable Care Act. But do you know how the March 31 deadline to purchase health insurance impacts you? Full story
A stressful, mad dash to file your taxes before the deadline can lead to errors and missed credits or deductions. Let’s go over some last minute tax tips to help you file [correctly] before the deadline.
Though medical expenses cost a bundle, medical insurance premiums, co-pays and uncovered medical expenses are deductible as itemized deductions on your tax return, and that can help defray the costs. In the past you could deduct only those medical expenses that exceed 7.5% of your adjusted gross income; beginning in 2013, that threshold has been raised to 10%. Full story
The open enrollment deadline is coming to a close for uninsured Americans to purchase health… Full story
Looking for free online tax preparation and e-filing options? The IRS is once again offering the IRS Free File Alliance, which is a public-private partnership between the federal government and private tax preparation companies, including TurboTax maker Intuit. Full story
There are just a few weeks left before the open enrollment deadline ends under the Affordable Care Act, which requires most uninsured Americans to purchase health insurance by March 31, 2014 or face a tax penalty when they file their 2014 taxes in 2015. Here is a breakdown of some of the answers to questions you may have about the March 31 deadline to purchase health insurance.
Congratulations on the happy news! Now that you two have tied the knot, it’s time to go ahead and give your finances a head start by creating your money game plan and optimizing your taxes.
Schools out for summer and you may have been trying to figure out more ways… Full story
Congratulations, class of 2014! Here are 6 tax and financial tips to keep you headed in the right direction as you move into this next phase of life. Full story
Summer is coming soon it means time for vacation. While Disney World can extremely fun, it can be expensive, but it’s not the only kid friendly destination for your family vacation. There are some wonderful ways you and your family can bond and stay on your budget.
Bonuses can change your tax situation depending how large the bonus and what methods employers use to tax the income. Find out how bonuses(supplemental income) are taxed. Full story