Being mindful of taxes is one of the secrets of the wealthy. Check out these articles to help keep more money in your pockets.
Everyone wants to have lower taxes. Taxes are something that people are more than likely to complain about, and they see them as the way the government takes away from their hard-earned money. Being in the United States, you owe federal tax and state tax. A way to accomplish having a lower tax bill is …
No Income Tax States: 4 Factors To Consider Before Moving Read More »
Making a charitable donation at the end of the year–or any time of year–can be a win-win-win. The organization you give your money to benefits. You get to enjoy the good feeling that comes with supporting a project or cause that you believe in. And, you may also be able to lower your tax bill. …
If you got a tax refund this year, you may be tempted to spend it on something fun. And, there’s certainly nothing wrong with that. But before you get too impulsive, you may also want to think about how that refund might be able to help you get to the next level in life. In …
Dividends are one of my favorite things to collect. Even John D. Rockefeller understood the power of dividends. He has been quoted as saying, “Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.” Buy a stock that pays a dividend, and a company pays you passive income …
Just do it already. Reset your view on taxes if you think not filing a return is the best course of action for you. Why do you ask? If you file your taxes late, what will happen? Well, I’d love to keep it pithy and say, “You don’t want to know,” but you might care …
What Happens if You File Taxes Late? Here is the Good News and Bad Read More »
One of the secrets of the wealthy is avoiding paying taxes. The wealthy put their money in qualifying tax shelters or utilize tax deductions to prevent the government from touching their money. A 1031 exchange is one of the tax codes savvy real estate investors take advantage of to avoid paying capital gains tax and …
In the past 20 years, the cost of attending college has tripled and increased almost 8 times faster than wages. While public higher education is mostly a state responsibility, the federal government does incentivize continuing education through tax deductions and credits. To understand how you might take advantage of these tax deductions as a college …
7 Tax Deductions and Credits for College Students to Save Money Read More »
The last thing you want to do is wait until tax season rolls around and then find yourself scrambling to figure out how to do taxes on your own. If you earn a steady income or even an inconsistent one, you’re likely paying taxes or on the hook for them. Employers withhold taxes each pay …
How to Do Taxes on Your Own: Your Complete 2021 Guide Read More »
How long to keep tax returns is one of the most asked questions in personal finance. Did you know the average American spends 13 hours every year preparing federal tax returns? For small business owners, that figure almost doubles to 24 hours! It’s always a relief once taxes are filed for the year. But what …
How Long to Keep Tax Returns: 7 Questions to Consider Read More »