Taxes – Money Crashers

TurboTax vs. H&R Block: Full Comparison

Grant Sabatier — Wed, 13 Dec 2023 18:30:00 +0000

Amid a crowded field, H&R Block and TurboTax are two popular and respected e-filing tax options. Both deliver a cost-effective way to get your taxes done quickly and correctly, maximizing your return. There are, however, core differences between TurboTax vs. H&R Block. There isn’t one program that’s better than the other so much as each

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TaxSlayer vs. TurboTax 2024: Full Comparison

Grant Sabatier — Fri, 08 Dec 2023 19:35:07 +0000

Let’s take a look at two of the most popular tax software: TaxSlayer vs. TurboTax. We’ll cover the similarities and differences between these two tax filers, going over their pros and cons. Tax season is coming. Whether you love it or loathe it, getting your federal tax return filed can be a simple and pain-free

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TaxAct vs. TurboTax 2024: Full Comparison

Grant Sabatier — Wed, 06 Dec 2023 18:00:00 +0000

Every year, millions of Americans use tax filing software to electronically file their tax returns, and many question which is best between TaxAct vs. TurboTax. TaxAct and TurboTax are two of the most popular apps available on the market to help you meet those goals. They regularly receive top nods from finance and software review

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Offshore Banking — What It Is and When It Makes Sense

Brian Martucci — Mon, 17 Jul 2023 11:00:00 +0000

Contrary to popular belief, offshore banking isn’t limited to the rich and unethical. It’s sometimes necessary for people — even ordinary Americans — to have offshore accounts for legitimate financial reasons. Curious what offshore banking can do for you?

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Should You Pay Taxes With a Credit Card?

Brian Martucci — Sat, 01 Apr 2023 14:00:00 +0000

You can pay your taxes with a credit card. But that doesn't mean you should. If you're tempted to slap down the plastic to pay your tax debt, make sure it's right for you first.

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Wealth Tax – What It Is, Pros & Cons of Current Proposals

Janet Berry-Johnson — Sun, 12 Mar 2023 18:40:00 +0000

During the 2020 presidential primary, multiple candidates drew attention to the concept of a wealth tax. While wealth taxes can come in many forms, there’s a lot of misinformation and misunderstanding about them. Find out how they work and who they really impact.

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Best Free Online Tax Software & Services of 2024

Brian Martucci — Thu, 02 Feb 2023 12:00:00 +0000

If you have a relatively simple tax situation — for example, if you earn your income from a single employer — you can use free online tax preparation software programs for your federal tax return. Learn about the top choices for free online tax preparation software and services.

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How to Gift a House to a Family Member in a Tax-Efficient Manner

G. Brian Davis — Thu, 29 Dec 2022 18:00:00 +0000

Want to transfer your house or investment property to a family member? Expect the legal question of how to deed a property to your children to quickly become a tax question about how to minimize gift taxes, capital gains taxes, and estate taxes. Learn how to navigate these complex issues.

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Ideal Tax Review – Solutions for Serious IRS Tax Issues

Brian Martucci — Mon, 07 Nov 2022 22:34:19 +0000

The tax resolution industry has a reputation for sketchy, even predatory behavior. Ideal Tax is different. If you have serious income tax issues, you should consider working with their in-house tax attorneys, CPAs, and IRS negotiation experts. Learn about Ideal Tax and whether it’s right for you.

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U.S. Taxes for Expats — 9 Tips for American Citizens Living Abroad

G. Brian Davis — Fri, 26 Aug 2022 17:00:00 +0000

Preparing your federal tax return is hard enough when you live in the U.S. But it gets tougher if you’re filing as an expat from another country. Follow these steps to slash your tax bill without losing your sanity.

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What Is Tax-Loss Harvesting and How Does It Work?

TJ Porter — Mon, 01 Aug 2022 11:00:00 +0000

Tax-loss harvesting lets you use underperforming assets to lower your taxes. But managing your portfolio is complicated enough — is tax-loss harvesting even worth it? The short answer is yes. And advisory services leveraging modern technology can help you reap the benefits without the headache.

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What Is the Child Tax Credit (CTC) and How Do You Claim It for Dependents?

Erin Gobler — Fri, 15 Jul 2022 17:00:00 +0000

The child tax credit offers parents a tax break for each child they have. It can help reduce the amount you owe in taxes or boost your refund by thousands of dollars. But what is it and how does it work?

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States With the Lowest Overall Tax Burden (Income, Property & Sales)

G. Brian Davis — Mon, 11 Jul 2022 11:00:00 +0000

State and local taxes in the U.S. add up to real money. There’s a huge difference between the highest-taxed states and the lowest. If you’re considering where to set down roots or looking to move to a lower cost-of-living area, read on to learn which states offer the lowest tax rates.

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What Is IRS Tax Form 1098 (Mortgage Interest Statement)?

G. Brian Davis — Mon, 09 May 2022 11:00:00 +0000

As tax forms go, the 1098, Mortgage Interest Statement ranks among the simplest as you prepare your tax return. But there are some things you need to know about Form 1098 and how to use it in your tax return.

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5 Different Types of Taxes and How to Minimize Them

Amy Livingston — Mon, 25 Apr 2022 11:00:00 +0000

Americans are on the hook for several different types of taxes throughout the year. Luckily, there are ways to reduce your tax burden and spread out the impact taxes have on finances. Here are five types of taxes you may be subject to at some point, along with tips on how to minimize their impact.

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5 Reasons the IRS Can Seize Your Income Tax Refund Money for Debt

Amy Livingston — Tue, 19 Apr 2022 11:00:00 +0000

If you recently filed your tax return and were expecting a fat refund, you might be shocked to discover it’s no longer coming. There are several situations in which the IRS can legally seize your refund. So before crying foul, consider whether one of these situations applies to you.

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Offer in Compromise (OIC) Defined – Can I Settle My IRS Tax Debt for Less?

Amy Livingston — Thu, 14 Apr 2022 14:12:05 +0000

An offer in compromise allows you to wipe out your tax debts for less than the full amount you owe. However, this option isn’t open to all taxpayers. The IRS considers offers in compromise only in certain circumstances. Find out if you qualify and if an OIC is right for you.

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FreeTaxUSA Review – Free Tax Filing and Online Return Preparation

Brian Martucci — Wed, 23 Mar 2022 11:00:00 +0000

FreeTaxUSA’s tax prep software is one of the cheapest — free federal returns for all users, even those with complex tax situations. But it may not be right for all taxpayers. Before you jump at the price, ensure you understand how FreeTaxUSA works, including its advantages and disadvantages.

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What Is a 1031 Tax-Deferred Exchange for Real Estate Property?

G. Brian Davis — Mon, 21 Mar 2022 11:00:00 +0000

As you explore ways to lower your taxes as a real estate investor, add 1031 exchanges to your tax-shrinking toolkit. They can help you avoid capital gains taxes until you’re ready to sell off your portfolio. But first, learn how to use them effectively.

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Liberty Tax Online Review – State and Federal Tax Preparation

Brian Martucci — Tue, 15 Mar 2022 11:00:00 +0000

Liberty Online is a solid tax filing option for tax situations of virtually any complexity. However, it does have a significant disadvantage that's worth noting: no free filing option. But it's still worth checking out if you don’t qualify for free tax filing with most tax prep providers, anyway.

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