We all know how expensive healthcare can be, so being able to claim a tax deduction for some of your insurance costs can help you save come tax time. Since there are specific rules and qualifications you must follow, here’s an overview of when you can and cannot claim a deduction on your health insurance.…
Read More...IRS: Taxpayers now have more options to correct, amend returns electronically
WASHINGTON — The Internal Revenue Service announced today that more forms can now be amended electronically. These include people filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico) and Forms 1040-PR, Self-Employment…
Read More...Cashing Out of Life Insurance
If finances are tight, you may wonder whether you can cash out a life insurance policy. The answer depends upon the type of policy you hold. The decision to cash out life insurance is not one to take lightly. By the time you finish this article, you’ll know which type of policies have cash value,…
Read More...Before You Sign Up for Health Insurance at Work, Read This
It’s open enrollment time at workplaces across the country – for health insurance as well as a bevy of other benefits. Here are four tips to help navigate the maze of benefit decisions. The fall open enrollment season for employees is upon us, which means millions of American workers will need to make a number…
Read More...Ahead of hurricane season, IRS offers tips on ways to prepare for natural disasters
WASHINGTON —The Internal Revenue Service reminded taxpayers today that May includes National Hurricane Preparedness Week and is National Wildfire Awareness Month. This is a good time to create or review an emergency preparedness plan, including steps to protect important tax-related information. In 2021, the Federal Emergency Management Agency (FEMA) declared major disasters following hurricanes, tropical storms, tornados, severe…
Read More...There is still time to file……
It is not too late to file your income taxes for 2021. If you are receiving a refund, there won’t be any penalties, you just need to file. Call me today to schedule an appointment or go to my website and pick a day and time that works best for you. If you owe taxes,…
Read More...Useful Financial Tips For Individuals Who Think Long-Term
Are you thinking too short term with your personal finance? It might be worth looking ahead and considering long-term financial planning even if you’re a long way off retirement. Take a look at our top tips to set you up long-term. Are you someone who likes to plan ahead and this of the Long-term? If…
Read More...Don’t Let Taxes Dim Your Retirement: How to Plan Ahead with Your ‘Tax Bucket List’
Whether you realize it or not, your money is sitting in three different tax “buckets.” To save on taxes throughout retirement, make sure to fill up your tax-free bucket. Here are two ways to do that. Taxes are on the minds of many this time of year. But too often, people think about taxes only…
Read More...4 Tips To Improve Your Finances
Imagine a world where you didn’t have to worry about your finances? Sounds pretty amazing, doesn’t it? While that might not be realistic, there are steps you can take to keep your finances in check. Below are 4 tips to stop finance woes in their tracks. 1. Map Out Your Goals Think about your financial…
Read More...Tax Time Guide: Use the ‘Where’s My Refund?’ tool or IRS2Go app to conveniently check tax refund status
WASHINGTON – The Internal Revenue Service reminds taxpayers today that the fastest and easiest way to check on tax refunds is by using the “Where’s My Refund?” tool on IRS.gov or through the IRS2Go mobile app. This year, more than ever before, those who don’t normally have to file a tax return may wish to do so to get…
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