We’re already a few weeks into tax season! For many people with complicated returns, tax prep started well before January. But even if your situation is fairly simple, you would still need to gather documents, review your finances, and account for any big changes that may have happened over the past year. Are you ready […]
Preparing for tax season often seems more like a sprint than a marathon. You receive your W2 forms in the mail in late January, and then it’s time to excavate your receipt shoe box and spend a stressful weekend trying to make sense of your tax return. All in all, it feels like a hurried, […]
Editor’s Note: Congratulations to P, Samantha, and Tabathia for winning this week’s contest! You don’t want to get your taxes wrong, but if your finances are fairly simple and you’re usually pretty organized, it’s pretty safe to file taxes on your own. Do you file your own taxes? What do you think is the most […]
Welcome to Wise Bread’s Best Money Tips Roundup! Today we found articles on tax secrets of the rich, ways to adopt a zero-waste lifestyle, and household chores you should outsource. Top 5 Articles 9 Tax Secrets of the Rich They Don’t Teach You Anywhere — Learn how to use income and expenses to reduce your […]
In 2017, the IRS received 152,235,000 tax returns — and of those returns, more than 73 percent were granted a refund. With the average refund last year standing at $2,895, you might think getting a windfall in the spring is a good thing. But rather than giving the government an interest-free loan all year, wouldn’t […]
The deadline to file your tax return is quickly approaching, so it’s a good idea to wrap things up and double check for any deductions or credits you might have missed. It’s extra important to pay close attention and make sure you’re getting the most of deductions this year. The Tax Cuts and Jobs Act […]
A recurring question each tax season centers on financial gifts; what they are and how they are taxed. Gifting money, property, or valuables to your friends and loved ones can be complicated if your gift exceeds certain monetary limits. Once your gift has exceeded these limits, it becomes subject to gift tax. Understanding gift tax […]
President Trump recently announced new tariffs on imports of steel and aluminum, in a move that got mixed reviews from business and political leaders. The new tariffs would increase levies on aluminum by 10 percent and steel by 25 percent. There is much debate about the sensibility of these tariffs, but rather than wade into […]
Benjamin Franklin famously said, “In this world nothing can be certain, except death and taxes.” What we can also be certain of is that strange, sometimes archaic taxes will always endure. For whatever reason, the following tax laws still exist, and they continue to bewilder the average taxpayer. (See also: The 11 Oddest Things America […]
Though it may seem unthinkable to U.S. citizens, there are many countries all over the world that offer residents the benefit of no, or very low, income taxes. But before you start packing your suitcase and heading overseas for a tax-free life, keep in mind that U.S. taxation is based on citizenship, not residency. This […]