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Taxes

Most people get money from various sources: wages from a job, investment returns, income from a business, Social Security benefits, and more. Some of that income is taxable, and some isn’t, which makes calculating your taxable income—and estimating how much tax you’ll owe—challenging. However, estimating your taxable income before filing your tax return can help […]

If you’ve ever filed a federal income tax return in the U.S., chances are you used IRS Form 1040. This is the form used by most people to file a personal income tax return, report the income they received during the year, and figure out how much of that income is taxable after claiming tax […]

  • Updated

Florida is famous for its beaches, gators, retirees—and for not imposing an individual income tax. Also, the state itself does not assess a property tax, although local Floridian governments may administer a property tax. As a result, Florida had the eighth-lowest tax burden (defined as the state and local taxes a resident pays divided by […]

If you receive $600 or more payments in total for goods and services through a third-party payment network, such as Venmo, Cash App, or Zelle, these payments will now be reported to the IRS. The new rule results from the American Rescue Plan signed into law in March 2021 and will mainly impact business owners […]

Roughly 90% of taxpayers claim the standard deduction vs. itemized deductions. Should you do the same? The answer, as with most tax questions, is: it depends. This article will help you decide. Standard Deduction vs. Itemized Deductions: What’s the Difference? When you file your tax return, you generally have two options: Claim the standard deduction. […]

You can now adjust your income in the Child Tax Credit Update Portal, but you have to do it by midnight Nov. 29. for changes to reflect on your Dec. 15 payment. For families who have suffered a recent drop in income, this may result in higher monthly payments. Once you update your income in […]

MoneyTips

A summer job is a great way for students to earn some extra money while building a resume for the future and learning new things about the working world. Typically, one of the hardest lessons for students to deal with is income tax. Working students may say, "Why is so much of my paycheck withheld? And who is this FICA dude?"

Welcome, students, to income taxes and how they affect the working world that you have joined. There are two main taxes on your earnings:

  • Federal Income Taxes – These provide income for operations and services of the federal government.
  • Payroll Taxes – These are taxes that fund Social Security and Medicare under the Federal Insurance Contribution Act (the "FICA dude" referenced above). The taxes you pay in go toward covering the eventual services you require. You pay half of this tax obligation (the withheld amount) and your employer kicks in the other...

Get Ready For Tax Season!

IRS Tips For Charitable Deductions

It's STILL Not Too Late To Lower Your Tax Bill

MoneyTips

A summer job is a great way for students to earn some extra money while building a resume for the future and learning new things about the working world. Typically, one of the hardest lessons for students to deal with is income tax. Working students may say, "Why is so much of my paycheck withheld? And who is this FICA dude?"

Welcome, students, to income taxes and how they affect the working world that you have joined. There are two main taxes on your earnings:

  • Federal Income Taxes – These provide income for operations and services of the federal government.
  • Payroll Taxes – These are taxes that fund Social Security and Medicare under the Federal Insurance Contribution Act (the "FICA dude" referenced above). The taxes you pay in go toward covering the eventual services you require. You pay half of this tax obligation (the withheld amount) and your employer kicks in the other...

Get Ready For Tax Season!

IRS Tips For Charitable Deductions

It's STILL Not Too Late To Lower Your Tax Bill

IntroLend

A summer job is a great way for students to earn some extra money while building a resume for the future and learning new things about the working world. Typically, one of the hardest lessons for students to deal with is income tax. Working students may say, "Why is so much of my paycheck withheld? And who is this FICA dude?"

Welcome, students, to income taxes and how they affect the working world that you have joined. There are two main taxes on your earnings:

  • Federal Income Taxes – These provide income for operations and services of the federal government.
  • Payroll Taxes – These are taxes that fund Social Security and Medicare under the Federal Insurance Contribution Act (the "FICA dude" referenced above). The taxes you pay in go toward covering the eventual services you require. You pay half of this tax obligation (the withheld amount) and your employer kicks in the other...

Get Ready For Tax Season!

IRS Tips For Charitable Deductions

It's STILL Not Too Late To Lower Your Tax Bill

  • Updated

IntroLend

A summer job is a great way for students to earn some extra money while building a resume for the future and learning new things about the working world. Typically, one of the hardest lessons for students to deal with is income tax. Working students may say, "Why is so much of my paycheck withheld? And who is this FICA dude?"

Welcome, students, to income taxes and how they affect the working world that you have joined. There are two main taxes on your earnings:

  • Federal Income Taxes – These provide income for operations and services of the federal government.
  • Payroll Taxes – These are taxes that fund Social Security and Medicare under the Federal Insurance Contribution Act (the "FICA dude" referenced above). The taxes you pay in go toward covering the eventual services you require. You pay half of this tax obligation (the withheld amount) and your employer kicks in the other...

Get Ready For Tax Season!

IRS Tips For Charitable Deductions

It's STILL Not Too Late To Lower Your Tax Bill

  • Updated

You may soon receive a letter from the Internal Revenue Service (IRS), but unlike other notices from the agency, you might be thankful to receive this one. That’s because the IRS announced it has started sending letters to more than 36 million families who qualify for the new monthly child tax credit payments. In March, […]

IntroLend

What do you plan to do with your tax refund? Maybe you have your eye on upgrading your phone, buying a new computer, or splurging on a long overdue vacation.

Have you considered using your tax refund to build your credit?

Granted, credit building doesn't compare with lying on the beach enjoying the sunshine, but you'll get long-term benefits that go beyond good memories and a tan. Last year's federal tax refunds averaged $2,707, which could go a long way toward establishing new credit or restoring damaged credit.

If you don't have any credit at all, your tax refund could help you get a secured credit card. Traditional credit cards require a minimum credit score, but secured credit cards usually don't because they're backed by a cash deposit that determines your credit limit.

By making small regular charges and paying them off on time and in full each month, you'll b...

Get A Credit Card Without A Job

Video: 3 Tips To Use Credit Cards Responsibly For Building Credit

How Lending Circles Can Build Your Credit Score

IntroLend

What do you plan to do with your tax refund? Maybe you have your eye on upgrading your phone, buying a new computer, or splurging on a long overdue vacation.

Have you considered using your tax refund to build your credit?

Granted, credit building doesn't compare with lying on the beach enjoying the sunshine, but you'll get long-term benefits that go beyond good memories and a tan. Last year's federal tax refunds averaged $2,707, which could go a long way toward establishing new credit or restoring damaged credit.

If you don't have any credit at all, your tax refund could help you get a secured credit card. Traditional credit cards require a minimum credit score, but secured credit cards usually don't because they're backed by a cash deposit that determines your credit limit.

By making small regular charges and paying them off on time and in full each month, you'll b...

Get A Credit Card Without A Job

Video: 3 Tips To Use Credit Cards Responsibly For Building Credit

How Lending Circles Can Build Your Credit Score

IntroLend

You have bought an expensive new toy in expectation of your tax refund, and are now desperately waiting for the refund to arrive before the repo man and his large friend Vito come to visit. How can you find out the status of your refund at any time to estimate whether you need to make a run for it?

A more likely scenario is that you are just curious about your refund, and would like to check the status periodically.

In either case, regardless of who prepared your taxes, you need to go through the IRS website to get your answer. Under the Refunds tab at www.irs.gov, you can select the "Where's My Tax Refund?" link and find out the latest on your return. The site is only updated once every 24 hours and is also available in Spanish.

If you e-filed, you can check the status within 24 hours after the submission, but on a traditional paper return, you will have to wait 21 days or more before checking. This proc...

Refund Advance Loans And Refund Anticipation Checks 101

When The Government Can Keep Your Tax Refunds And Disability Checks

IRS Audits Fall to 11-Year Low

IntroLend

You have bought an expensive new toy in expectation of your tax refund, and are now desperately waiting for the refund to arrive before the repo man and his large friend Vito come to visit. How can you find out the status of your refund at any time to estimate whether you need to make a run for it?

A more likely scenario is that you are just curious about your refund, and would like to check the status periodically.

In either case, regardless of who prepared your taxes, you need to go through the IRS website to get your answer. Under the Refunds tab at www.irs.gov, you can select the "Where's My Tax Refund?" link and find out the latest on your return. The site is only updated once every 24 hours and is also available in Spanish.

If you e-filed, you can check the status within 24 hours after the submission, but on a traditional paper return, you will have to wait 21 days or more before checking. This proc...

Refund Advance Loans And Refund Anticipation Checks 101

When The Government Can Keep Your Tax Refunds And Disability Checks

IRS Audits Fall to 11-Year Low

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