The TurboTax Blog • Income and Investments

Can I Make Spousal IRA Contributions for Retirement?

March 11, 2020 March 24, 2020 / TurboTaxBlogTeam

You can contribute to an IRA if you earn income from a job or from running your own business, and under certain circumstances, you can even fund an IRA if you’re not working at all. Many couples agree that one...

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Income and Investments

Do Babysitters Have To Report Their Income on Taxes?

March 4, 2020 / Elle Martinez

Working from home has been a wonderful way to have more time with our daughters. The relative flexibility of my schedule allows me to earn money and avoid paying for child care. However, there are times when I do need...

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Income and Investments

Tax Tips for Gambling on College and Professional Sports

February 27, 2020 / Jim Wang

Every year, I join a fantasy football league with my friends and every year, I lose. So for me, unfortunately, my limited sports gambling has no impact on my taxes. But if you frequently place bets on sporting events, and...

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Income and Investments

8 Ways to Fund Your Retirement in 2020

February 14, 2020 March 24, 2020 / TurboTaxBlogTeam

Is this the year you’re going to make the most of your retirement savings? At T. Rowe Price, we recommend you try to save at least 15% of your income (including any 401(k) company match) each year for retirement. That’s...

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Income and Investments

Renting Out Your Home for the Super Bowl, Long Term or Short Term? Check Out These 7 Tax Tips

January 30, 2020 / Ginita Wall, CPA, CFP®

Do you have a spare room in your house that you’d like to rent out? Maybe you’re thinking of renting it out for the Super Bowl. Or maybe you are thinking about renting out your entire home and taking off...

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Income and Investments

4 Ways to Know If You’re an “Individual Investor”

January 16, 2020 February 14, 2020 / Jim Wang

Years ago, when I first started investing, I was worried about what it meant for my taxes. I just started a new job, set up my retirement plan, and my head was spinning from so many forms that I waited...

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401K, IRA, Stocks

Investing 101: How, Where, When, and Why to Begin

January 10, 2020 January 14, 2020 / Jim Wang

Are you searching for a way to build long-term wealth? Investing can help accomplish this goal. The best part is that you don’t need to be an investment banker or wealthy to start. If you still need to invest your...

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Income and Investments

Live Your Best Life With These 5 Financial New Year’s Resolutions

December 28, 2019 / Elle Martinez

Many people are making resolutions for what they want to accomplish for the upcoming year. Part of the resolution-making process involves the excitement of new beginnings and the desire to tackle some big dreams…but what about the other part? Some...

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401K, IRA, Stocks

Stocks, Bonds and Other Ways to Make Your Money Grow

December 27, 2019 January 15, 2020 / Jim Wang

Investing your money can seem intimidating because it’s so much different from working. When you work, you get paid for your time, your expertise, and your experience. You put in an hour of work, you get paid an hour of...

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401K, IRA, Stocks

I Started Investing This Year, What Do I Need to Know Come Tax Time?

December 26, 2019 December 27, 2019 / Jim Wang

When I first started investing in the stock market, I wasn’t quite sure what I was doing. I wasn’t sure if my purchases would lose value the moment I bought them or if they would grow into exponential figures. I...

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The IRS filing deadline has been extended to July 15, 2020, for all taxpayers. See more tax updates related to COVID-19 here.

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