Tax Deductions
Qualified Dividends vs. Nonqualified Dividends: How Are They Taxed?
It's a battle! Qualified vs nonqualified dividends. If you're looking for the thrill of the day trader, expect a bit of a tax hangover. Qualified…
Charitable Contributions: Is Money Raised Through GoFundMe Taxable?
Yeah, GoFundMe isn't like Free Parking on Monopoly. Money raised through donation-based crowdfunding websites such as GoFundMe may be taxable, depending on various factors. Generally,…
When You’re Filling out Your W-4, How Many Exemptions and Allowances Should You Claim?
Withhold taxes now or owe taxes next April? [insert superhero tough decision meme] When filling out your W-4 form, it's important to carefully consider how…
Where to Find Your Amended Tax Return, Using the IRS Where’s My Amended Return Online Tool
It’s really called the “Where’s My Amended Return Tool”? Well, the IRS isn’t subtle. If you’ve recently amended your original tax return and are wondering…
Is Child Support Taxable Income or Tax Deductible? No
Child support might be tax neutral, but it's rarely feelings neutral. Child support is tax neutral for both the paying and receiving parents. Child support…
No, There Is No First-time Homebuyer Tax Credit With the IRS
Yeah, the tax credit isn't real. Maybe Santa will bring us one. Oh, wait... Sorry, there is no first-time home buyer tax credit available, as…
What Every Parent Needs to Know About the Child Tax Credit (and the Update Portal)
Just because the monthly check is gone, the tax credit isn't. Parents should be aware that the Advance Child Tax Credit payments, which were monthly…
Funeral Expenses: Tax Deductible or Not?
Death and taxes might be certain, but funeral expense tax deductions are a little less so. Funeral expenses can be a substantial burden on families,…
