With just a few days left before the March 31 deadline to sign up for health insurance, the Obama Administration announced that it will give extra time to those uninsured Americans who started to enroll in health insurance but were unable to complete the process. Full story
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
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.
The IRS officially opened for the 2014 tax season today and a common question asked… Full story
The IRS announced today that it will begin processing tax returns on 1/31/14. The good news for you? TurboTax is open for business and will begin accepting tax returns on January 2, 2014! Full story
Got family? Then you might have tax deductions as well. For each dependent you can claim, you can deduct $3,900 from your federal taxable income, which is likely to reduce your taxes. Full story
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