Since it's probably safe to say that many of us haven't read the U.S. tax code verbatim, there's quite a lot of room for error when it comes to correctly filling out forms and filing your return.
This week as the House and Senate vote on their respective federal budget proposals, it's important to remind ourselves that how our collective wealth is spent is the purest reflection of what we value as a country.
First, make sure in each of these instances you've actually filed the tax return. Paying is the second part. If you think you cannot pay the entire bill, pay at least a partial payment.
I'm embarrassed to admit I'm one of the few people in Washington who has never watched House of Cards. But this sorry state of affairs is soon about to change. That's because this hot Netflix show has just delivered me a pleasant surprise.
Most taxpayers can use a standard deduction when filing their taxes, but you can possibly save more money if you're eligible for a variety of itemized deductions or credits.
But whether you prepare your own return or work with a tax professional, there are ways to make the process less burdensome. It all hinges on a bit of upfront organization, and having a basic understanding of how your tax bill is calculated.
While Europeans are preparing to solar gaze during the March 20, 2015 eclipse, the power pundits are heating up the debate on whether the solar eclipse will fritz out Germany's power grid.
In fact, depending on whether you live and/or work and/or run a business in my city, you might be paying as many as 44 different taxes, fees and tariffs every single year -- maybe more!
Unfortunately, when you're self-employed this is your problem and nobody else's.
A few years ago, I began to question whether each new version's bells and whistles, many of which I didn't need, were worth the price. Then there were the changes Intuit had made to the program's user interface over the years that forced me to change my habits.
1. The "job creators" are CEOs, corporations, and the rich, whose taxes must be low in order to induce them to create more jobs. Rubbish.
Set aside for a moment the financial truth that if you are getting a big tax refund, you are doing it wrong. Plenty of studies into "professional" tax preparers show they are often doing it wrong, too.
Tax season is upon us again. April 15th may be the official deadline to file, but now is the time to start gathering everything you'll need so that you aren't scrambling in the eleventh hour.
America is a land of givers, overall donating more time and money and are more likely to help a stranger than other nations. Since giving is an inherent part of our culture, we often forget about the tax aspect of our donations.
Yes, nothing screams (or, more likely, sighs) "I'm an adult" than W-2s, deductions, and adjusted gross income. And while that all sounds painful, doing your taxes for the first time doesn't have to be that bad. In fact, you can make it easier.