Taxes

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Adoption Tax Credits (Federal & State) – Requirements & Eligibility

Adoption Tax Credits (Federal & State) – Requirements & Eligibility

Adopting a child can be expensive. Fortunately, there are federal and state assistance programs that minimize financial obstacles to adoption. If you’re considering adopting, here are the tax credits you might be eligible to claim. Adoption Tax Credits (Federal & State) – Requirements & Eligibility is a post from Money Crashers. https://www.moneycrashers.com/adoption-tax-credits-federal-state/ #financialfreedom #money #entrepreneur […]

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3 Things People Dread Most About Taxes

3 Things People Dread Most About Taxes

Procrastinators may have a reason to celebrate this year: The Internal Revenue Service (IRS) pushed the tax filing deadline to May 17, 2021 from its usual mid-April deadline.  While that date gives the IRS much-needed time to accommodate new stimulus payments and a backlog of tax returns, it also gives procrastinators more time to delay

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How Much Is Self-Employment Tax & How Do You Pay It?

If you’ve ever been employed, you know about the Social Security and Medicare taxes your employer withholds from each paycheck. Self-employment taxes are the equivalent for the self-employed. Learn how much self-employment tax to expect, how to pay it, and how to reduce your self-employment taxes. How Much Is Self-Employment Tax & How Do You

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10 Ways a Side Gig or Business Can Impact Your Taxes

As a self-employed person or business owner, you get access to tax deductions and benefits not available to most employees. Here’s what you need to know about how a side gig changes your tax situation, often for the better. 10 Ways a Side Gig or Business Can Impact Your Taxes is a post from Money

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Why Your Taxes Could Go Up in Retirement and How to Prevent It

Many people believe retirement means lower taxes. But just because you’re no longer earning a paycheck doesn’t mean the taxman’s out of your life forever. And with major economic and demographic challenges on the horizon, it’s time to start laying the groundwork now for lower taxes in retirement. Why Your Taxes Could Go Up in

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5 Options for People Who Can’t Afford Their Tax Bills

If you know you’re getting a refund come tax time, filing your taxes can almost feel fun. But if you suspect you’re going to owe the IRS money you don’t have, it can be hard to even start the process. According to a NerdWallet survey, of those who failed to file by last year’s extended…

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What’s the Best Online Tax Prep Software? – TaxAct vs TurboTax vs H&R Block

TurboTax, TaxAct, and H&R Block have a similar set of core features and capabilities. That can make it challenging to differentiate among them at a glance. But there are differences. Before choosing one, learn how they stack up — and what’s new for the 2020 tax year. What’s the Best Online Tax Prep Software? –

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Best Credit Cards to Use to Pay Your Taxes in 2021

Paying taxes with a credit card isn’t always ideal, but it does make sense for certain taxpayers, especially those who’ve recently signed up for new cards with long 0% APR introductory promotions or generous sign-up bonuses. Read on for suggestions of the best credit cards to use to pay your taxes. Best Credit Cards to

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4 Signs You’re About to Get a Tax Surprise

At tax time, it’s often hard to predict how much you’ll owe or receive in a tax refund without actually doing your taxes. But there are some telltale red flags that can mean an unwelcome tax surprise is headed your way, tax pros say. Here’s how to spot the signs — and how to keep…

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What Happens If You Miss the Tax Deadline? – Penalties for Filing Late

If you missed the tax deadline, you’re likely very concerned about fees, penalties, and how to file your taxes late. The good news is that it can happen to anyone, for a variety of reasons, and you can still get back on track. Here is some advice for doing just that, whether you’re owed a

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IRS Offer in Compromise: Basics and Who Qualifies

Advertisements about “settling your tax debt for pennies on the dollar” typically refer to the process of applying for an IRS offer in compromise, which is an IRS program designed to help people pay at least some of their tax debt. But statistically, the odds of getting an IRS offer in compromise are pretty low….

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5 Year-End Tax Planning Strategies to Save More Money

There are many things you can do before the year’s end to lower your taxes and perhaps keep more money in your pocket in the coming year. Here are five moves you can make before December 31 that could reduce your tax bill and make for an easier tax filing season. 5 Year-End Tax Planning

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Here’s What Happens to Your Tax Money Each Year

The post Here’s What Happens to Your Tax Money Each Year appeared first on The Simple Dollar. #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

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6 Common Tax Misunderstandings, Explained

During the first few months of the year, I read lots of articles and hear from many readers on the question of income taxes. It’s not surprising since filing income tax paperwork is part of the life of most American adults during these first few months of the year, and it’s always a painful process.

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