As of January 24th, tax season is finally upon us. Documents are pouring in, your accountant friends are already deep into 80 hour work weeks and you’re wondering if you can write off your donation to a Krakatoa volcano relief charity that turned out to be fraudulent. Whether you’re a seasoned tax veteran or doing... Read More
According to one survey, Americans carried over $1,380 in holiday debt in 2020. It might not sound like much, but it’s a dollar figure that can haunt budgets for months or years if you’re not using credit responsibly. For example, $1,380 on a credit card with 17% interest can take you more than 5 years... Read More
In a Nutshell Yes, you might be able to get a home loan even if you owe taxes. Owing taxes or having a tax lien does make it harder and more complicated to get a mortgage. You can improve your chances of mortgage approval by actively working to resolve your tax debt even if you... Read More
This article originally appeared on Parent Portfolio and has been republished with permission. Do you have assets that you want to pass down to your children or grandchildren? Although you mention them in your Will, it still has to be verified in court. Having a family trust avoids this judicial process and is one less... Read More
Are you just starting your taxes for the 2020 tax season? If you’re panicking, don’t—we’ve got good news. The tax deadline typically falls on April 15, but this year, the IRS has extended the tax deadline to May 17 due to the pandemic. So what does this mean for you, exactly? We’ll break it down for... Read More
NOTE: Due to the COVID-19 coronavirus pandemic, the IRS has extended the federal tax filing and payment deadline to May 17, 2021. The recent relief package passed by Congress may have additional tax implications. Please contact a tax adviser for information you may need to complete your taxes this year. Learn More. Some canceled debts are... Read More