The first option offered by TaxSlayer is a free version, which includes both federal and state taxes. The free version covers W-2 income in addition tostudent loan interestand education expenses. Even if you have the free version, you can still take advantage of TaxSlayer’s phone and email ...
What are the best tax deductions? The best tax deductions are those you can take before your adjusted gross income is calculated. These include business expenses, student loan interest paid, health insurance payments paid as a self-employed business owner, and retirement contributions. What can I ...
Fordivorced or separatedparents, the custodial parent (the parent with whom the child resides for the most nights out of the year) can claim the credit even if the other parent has the right to claim the child as a dependent due to the divorce or separation agre...
Through various income-driven repayment plans, federal student-loan borrowers can often get lower monthly payments, freeze interest on student loans, and have their student debt forgiven after a period of time. A new income-driven repayment plan, SAVE, has already put more than 4 million student...
Taxpayers who qualify as dependents to someone else are not eligible to claim their own dependents. Non-custodial parents There is one exception to the residence requirement that allows the non-custodial parent to claim their child as a dependent. The non-custodial parent can claim the child ...
Life insurance is often associated with older adults who have dependents and financial responsibilities. However, it can also be beneficial for teenagers. While the thought of life insurance may seem unusual for young individuals, there are several ways it can be helpful for them. In this article...
Key Takeaways The U.S. Treasury and the Social Security Administration can garnish your Social Security benefits for unpaid debts such as back taxes, child support, or a federal student loan that’s in default. If you owe money to the IRS, a court order is not required to garnish yo...
Federal parent PLUS loans are available to parents of dependents attending college and are intended to fund education expenses not covered by other federal student aid. But these loans differ from federal loans taken out by student borrowers in ways that make them harder to ...
When you take a policy loan, you essentially borrow money from the insurance company using the cash value of your policy as collateral. The loan amount is typically a percentage of the cash value and accrues interest over time. These loans are usually low-interest or interest-free, making th...
Tax filers should also take note now of any notable personal changes — like a change in dependents, employment status, new or different earnings or gains, as well as getting married or divorced — these are examples that can impact what you should be paying in taxes, according to the Jacks...