Have you filed your taxes yet? The tax season officially started on January 29, 2024, when the Internal Revenue Service (IRS) started accepting and processing returns. Before you submit your 2023 tax return, however, there are some things you’ll need to think about first.
Marrying someone with children means that your finances will become a lot more complicated as you take into account the needs of your spouse and any children who join your household.
It is important that you properly estimate your tax withholding. If an insufficient amount of taxes is withheld, you may end up owing a substantial sum, including penalties and interest, when you file your tax return.
In saving for a child's college education, parents may want to consider certain tax-advantaged strategies. These strategies all share the common trait of reducing the amount of taxes owed.
Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different categories, such as "Filing Status" or "Employee Matters," for ease of reading.
As one year winds down and we prepare for a new one, here are some simple tips to help lower your taxes and put you on solid financial footing as we look forward to 2022.
As children continue to grow into their tweens, they might consider getting a job to earn more money. As their parent or guardian, you’ll want to ensure their job is age appropriate and that they are getting compensated fairly.