Lauren Lyons ColeSkye Gould
"Life events like getting married, having a child, maybe you get a second job or you start a side hustle – those things could all potentially change what your tax liability is," says Robert Farrington, founder of The College Investor, a personal finance site. A boost in earnings due to ...
From gift-buying to travel and entertainment, holiday spending can leave you feeling less than festive heading into the New Year. The good news is, your tax refund can be one way to pay down lingering holiday debt and get you back on track financially. H
To avoid a delay in the future, consider changing your tax withholding for next year. That way, instead of waiting for a refund for overpaying your taxes all year, you’ll keep that cash in your pocket every paycheck. Just make sure you don’t overcorrect and end up owing ...
What portion of my paycheck is withheld for state and local payroll deductions? What percent of your paycheck goes to taxes? How to change your take-home pay? How do non-governmental paycheck deductions affect your paycheck? Why did less tax come out of your paycheck?
A Guide to Tax Deductions for Charitable Donations If itemizing this year doesn’t make sense, consider whether there is a way to change your spending so you can itemize in a future year. Bunching several years’ worth of charitable contributions into a single year may be the most commo...
Hold on to medical bills for a year, unless there’s an ongoing insurance dispute or you claim a tax deduction for medical expenses. Keep health insurance policies for as long as the insurance is active. Records relating to your health—conditions, treatments, prescriptions, lab tests, f...
This credit works out to a percentage of what you paid a care provider so you can go to work. The exact percentage decreases as your income increases, and other limits apply as well. Your child must be younger than 13 at the end of the tax year. Otherwise, the IRS takes the position...
The advantage: You don’t have to think about it, and you’re less likely to spend the money instead. Other easysavings toolsinclude credit card rewards and spare change programs, which round up transactions to the nearest dollar and transfer the difference into a savings or investment account...
Before the issuing deadline.Sometimes the longest waiting game, when you're anticipating a tax refund, is the stretch between the end of the tax year and the deadline by which your employer is required to issue your W-2. Although most taxpayers receive W-2sduring the month of January,the...