April 1, 2019
The tax deadline is roughly two weeks away. But if you’re going to be late in filing, can’t pay all of what you owe or have the fear that you might be audited, don’t panic. We’ve got you covered with some smart ways to handle these three, potentially scary scenarios. Late Filing Of course, if you owe, make every effort to file as soon as possible to avoid penalties and interest. But the good news is, if you’re owed a refund, there’s no penalty for filing late. More good news: For those who qualify, Free File is still available on IRS.gov through Oct. 15 to prepare and file returns electronically. There’s more: If you have a history of paying on […]
March 1, 2019
Getting a tax refund is always a great feeling. But what should you do with it? While the first thing you might be tempted to do is spend it on a splurge for yourself, here are a few other things you might want to consider. Start an Emergency Fund. If you don’t have one, this kind of account is critical. If you already have one, add to it. Online savings accounts that are interest bearing or money market accounts are your best bets. You can’t control the future, which is why being prepared is your best defense. Pay Off Debt. Whether it’s a credit card, student loan or car loan, paying on – or eliminating – the account with the […]
February 1, 2019
Filing taxes for the first time can be overwhelming. But if you have the right tools and advice before you start, it won’t be. Here are a few critical things to know before you begin, which will make the seemingly daunting process much easier. Start Prepping Early Even though the deadline to file a tax return is April 15, you’ll want to start as soon as you can. You’ll need time to gather all of your important documents like a W-2 from each employer and, if you’re a contractor, your 1099 forms. If you have a full-time job and worked freelance on the side, you’ll need both. The good news is that the forms show how much you made in […]
January 1, 2019
New Year’s resolutions usually involve stopping things like eating, drinking and spending too much – and so on. You know the drill. However, according to U.S. News & World Report, 80 percent of New Year’s resolutions fail by the second week in February. Why not switch things up this year? Instead of setting yourself up for disappointment by attempting to abolish negative behavior, why not start doing some positive things? You’ll improve your quality of life and maybe even help the world. Here are few ideas to kick things off. Start Recycling This is so easy and so doable. All you have to do is get an extra trash can and throw your plastic and aluminum cans into it. Then […]