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How does a parent know whether to pay a gift tax this year?
For most parents, gift taxes are not even on the radar screen while their child is enrolled in high school. But college can change everything.…
Tips for getting a tax extension
>>Get A Tax Extension Online Are you familiar with the tax extension process? Even if you don’t know the first thing about requesting an extension,…
Tax incentives to send your college graduate to grad school
These days it is more likely than not that your college graduate will be either unemployed or at least underemployed for at least a couple…
How to save on taxes when your college grad moves back home
Qualify for the dependent exemption and deduct $3,800 from your earnings The economy is better than it was, but not ideal, and the job market…
Age features on 529 plans – Risk and Return
Recently, I wrote about a few of the primary features of 529 plans, and I focused on qualities proven to provide higher returns. Suffice it…
How to avoid Federal taxes on short sales and other debt settlements
Generally speaking, whenever you settle a debt for less than you owed, the difference counts as income – taxable income. A short sale is a…
Tax Form 1040 Instructions: What You Need to Know
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2013/09/Untitled_video5.mp4"][/video] There are a lot of these Form 1040 pages! However, it’s the main form for everyone’s tax return, from Bond villains…
How Do Taxes Work?
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2021/12/Understanding_Income_Tax_Basics.mp4"][/video] How do taxes work? Well, if you're paying them, the question surely pops into your head from time to time. The…
