Ordinarily, when you sell something for more than what you paid to get it, you have a capital gain; when you sell it for less than what you paid, you have a capital loss. Both can affect your taxes. But if you immediately buy a similar property to replac
It is a thought that has probably hit a lot of people of a certain age when making a purchase these days: “Wow, when I was a kid, I wouldn’t have ever imagined paying for something with my phone.” It can make anyone wonder what the future of money will look li...
Tax to the IRS?]]>doi:urn:uuid:8be6e8cc9b31a410VgnVCM100000d7c1a8c0RCRDIf your employer didn't pay the IRS, you can still claim withheld taxes. Here's what to do.Judy O'ConnorFox Business
Results aren't guaranteed.Not even the most reputable debt settlement company can guarantee successful resolution. And if you come across a company that makes such promises, you're probably dealing with a scammer. Debt settlement can be expensive.Often, debt settlement companies charge between 15%...
What if I Forgot to Take the Child Tax Credit Last Year? If you forgot to claim a child tax credit, you can go back and amend your previous return to receive it. However, your child must have had a Social Security number issued by the due date of the return to receive the credit....
You can request an extension of 15 days to provide W-2s to your employees unless you show a need for a 30-day extension by faxing a letter to the IRS. What to do if you haven’t received your W-2 If you haven’t received your W-2 by early February, contact your employer. They...
According to the Internal Revenue Service (IRS), federal estate tax returns are only required for estates with values exceeding $13.61 million in 2024 (up from $12.92 million in 2023).23If the estate passes to the spouse of the deceased person, no estate tax is assessed.324 If a person i...
that some corporations and wealthy individuals don't pay their fair share. They believe that the tax system often requires low- and middle-income individuals to pay a greater percentage of their income in taxes than is required from individuals with higher incomes. How can these issues be fixed...
Also, Roth IRAs do not haverequired minimum distributions (RMDs). If you don’t need the money, you don’t have to take it out of your account (where it continues growing tax-free). You can contribute to a Roth IRA as long as you have eligible earned income, no matter how old you...
If the couple had needed to make an additional contribution and they were over the age of 50, they are each allowed by the IRS to make acatch-up contributionof $8,000 in 2024.3This amount remains the same in 2025.4 After retirement, the taxes the couple will pay on distributions will co...