Tag Archive for: taxable income
Three Changes For The 2022 Tax Season
The IRS has yet to announce an official start date to the 2022 tax season, but it typically begins accepting tax returns by the end of January. For what you need to know and how you can prepare for the changes, CLICK ON THE HEADLINE.
Three Easy Strategies To Avoid Capital Gains Tax
If you know the basic rules around capital gains tax, you can work to minimize it, even as your investments grow. For three easy-to-apply strategies to reduce or even eliminate any potential capital gains tax in 2021. CLICK ON THE HEADLINE
Retired And Returning To Work: How The Extra Income Could Collide With Other Financial Considerations
Extra income in and of itself isn’t bad if you are among those retired people thinking about picking up a job again. However, it’s worth considering how the extra income could affect other parts of your financial life. CLICK ON THE HEADLINE FOR MORE
Unemployment Benefits Were Tax-Free In 2020. Don’t Expect That In 2021
It's unlikely that lawmakers will decide to let those collecting jobless benefits in 2021 forego paying taxes. Anyone receiving those benefits now should plan to pay the IRS a portion of that money. CLICK ON THE HEADLINE FOR MORE
IRS Sending Out 4 Million Refunds To Taxpayers Who Overpaid On 2020 Unemployment Benefits
Many taxpayers had already filed their tax returns before the American Rescue Plan Act was excluded from taxable income. For taxpayers who overpaid due to the exclusion, the IRS will either refund the overpayment or apply it to any other outstanding taxes. CLICK ON THE HEADLINE FOR MORE
2021 Child Tax Credit: Why Some Families Are Opting Out
On July 15, the IRS will begin sending families monthly payments of up to $300, but some may have to repay. To avoid repaying the credit later, some families are opting out of the advance payments. CLICK ON THE HEADLINE FOR MORE