Income and Investments

Bonus Time: How Bonuses Are Taxed and Treated by the IRS

November 9, 2017November 17, 2017 /

Bonuses are an excellent way to motivate employees and reward top performers. However, bonuses can also quickly change one’s tax return and the amount of taxes initially withheld depending on the payout. Are bonuses treated as regular income or singled...

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401K, IRA, Stocks

Five Tips to Help You Figure Out How Much to Save for Retirement

October 16, 2017October 16, 2017 / Elle Martinez

As we get more comfortable with our finances, we’re looking for ways to improve our financial system, which includes our retirement plans. So far we’ve been basing our plans on an estimate we did a few years ago. However, after reading some...

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Income and Investments

3 Tax Reasons for Why You Should Think Twice Before Betting on the Big Game

September 16, 2017 / Jim Wang

Are you ready for some football? If so, maybe you’ve been thinking about putting a little money on the game, and if you are, it’s important to know that there may be tax implications. Like other sources of income, gambling...

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Business Income, Income and Investments

What is a Qualified Joint Venture?

September 8, 2017September 8, 2017 / Ginita Wall, CPA, CFP®

Smiling couple with tablet computer on sofa couch at home

QJV may sound like a shopping network, but it’s actually a handy tax provision that allows mom-and-pop businesses to simplify their tax filing. If you are in business with your significant other or know someone who is, listen up! QJV...

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Income and Investments

What Is Supplemental Income and How Is It Taxed?

July 24, 2017July 24, 2017 / Ginita Wall, CPA, CFP®

An African American man working in a fish market. He is at the cash register, taking money out to make change.

Are you in line for a bonus at work? Lucky you! But don’t count on the entire bonus amount appearing in your paycheck. We all know that federal taxes will be taken out for part of your bonus, and your...

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Income and Investments

5 Ways to Navigate Amusement Parks Without Breaking the Bank

July 16, 2017July 16, 2017 / Elle Martinez

When we lived in Virginia, one of our favorite spots for a quick getaway was Busch Gardens. We’re not alone: 4.1 million people visited the park in 2016. In fact, U.S. amusement parks see 375 million visits each year. Like many other...

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Income and Investments

7 Ways to Save When Your Family Goes to the State Fair

July 10, 2017July 10, 2017 / Elle Martinez

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With summer in full bloom, many states are ramping up their annual fairs. These family friendly events can be a wonderful way to enjoy the local culture, try out new rides, and of course, eat a ton of food. Before...

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Income and Investments

3 Easy DIY Tips for Your Fourth of July Barbeque

July 3, 2017July 3, 2017 / Elle Martinez

One of my favorite things about summer is how easy it is to get your friends and family together for an outdoor evening of grilling. Next weekend we’ll be having our friends over from out of town and we’re hoping to...

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Income and Investments

Tax Tips for Those Renting Their Home on Airbnb

June 23, 2017September 6, 2017 / TurboTaxBlogTeam

As Airbnb’s popularity continues to rise, more and more people renting out their homes and learning about the tax implications that come with it. When you offer your home, or a room in your home, as a short-term rental, you may be...

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