Your 1040sIf your income is over a specific amount, paying the federal income tax is mandatory. You might have to pay income tax in some states as well. The income tax rate is a matter...
Owning or managing property has many benefits that people overlook, such as the benefits of vacation rentals and tax deductions. While there are several expenses and rules to consider...
There is no magic formula to determine the amount of life insurance you will need. However, you can make a reasonable estimate if you consider your present financial situation and...
When is the perfect time to give birth to a child during a tax year so as to claim that child as dependent on your tax return? You might be amazed by the answer: but anytime during...
The COVID 19 relief package passed in March 2020 includes provisions valued at $2.3 million to cushion the pandemic's effect. It is called CARES Act and comes with a package for...
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
The child tax credit is a credit that can give you up to $2,000 for each qualifying child while a qualifying dependent gets $500. It is a refundable tax credit that diminishes when...
Many people struggle to find the funds they need to build up their retirement savings. Fortunately, a non-refundable tax credit, called a retirement savings contribution credit, can...
It is glaring that the lesser you pay, the longer you remain in debt. Besides, bear in mind that the interest of the debt keeps growing, and your credit score also takes a blow. If...