If you don't have a computer, estimate the figures based on the books. Evaluate how your profit compares to last year's results, how sales affect the bottom line, and how much in taxes you will owe. It might be too late to make any changes, but the effort will help you make ...
TurboTax, the tax income return software by Intuit, says many filers may be able to save a bundle on taxes "if they make the right moves," regardless of their financial situation. Here are some year-end tax tips to help streamline the process, maximize your refund or lower the amount...
Preparing for tax season often seems more like a sprint than a marathon. You receive your W2 forms in the mail in late January, and then it's time to excavate your receipt shoe box and spend a stressful weekend trying to make sense of your tax return. All in all, it feels like a h...
If you don't have a computer, estimate the figures based on the books. Evaluate how your profit compares to last year's results, how sales affect the bottom line, and how much in taxes you will owe. It might be too late to make any changes, but the effort will help you make ...
Estate (and Generation-Skipping) Tax Return, within five years to add your spouse’s unused exemption to your amount. Neglecting this step could result in a 50% reduction in your available exemption and, of course, a much higher estate tax bill. Gift assets during your li...
fill in a form that I could do perfectly well myself. Of course, being single, my taxes are never that hard to figure out. I guess paying somebody to do it could be worth your while if there was a husband and ten kids to worry about. I just like the idea of free tax preparation...
Longevity risk refers to the possibility that yourretirement funds may not be sufficientto cover all the years you live. Government data shows that residents of several U.S. states are living well into theirlate 70s and early 80son average. Considering that most people retire around their mid-...
You may begin withdrawing your 401(k) funds as early as age 59½ depending on the plan’s provisions. Article Read More Types of Retirement Plans for Your Employees Compounding Interest Contributions to a 401(k) plan have the benefit of compounding interest: The intere...
Here’s why your tax return may be flagged by the IRS While the chances of an audit are slim, there are several reasons why your return may get flagged, triggering an IRS notice, tax experts say. Red flags may include excessive write-offs compared with income, unreported earnings, refundabl...
time without incurring a financial loss. Also, unlike retirement accounts, you won’t face early withdrawal penalties or incur tax penalties when you withdraw your money. The exception is CDs, which usually require you to forfeit some of the interest you’ve earned if you close them early. ...