Here is the latest Tax News from the NASDAQ.
Where Do You Rank as a Taxpayer?
Ever wonder how your income stacks up against your fellow workers? Do you make enough to put you in that at once extolled and excoriated 1% of richest Americans? In the bottom 50%? Somewhere in between? And, no matter
3 Ways Student Loans Affect Your Taxes
Anxiety at tax time is common, but millennials feel it more than others. Millennials are the age group most worried about filing their taxes, according to a recent NerdWallet survey conducted by Harris Poll. Factoring in student loan debt can be especially confusing. “You’d be surprised how many people out there
Smart Steps to Get Ahead of Your 2016 Tax Return
It’s not too early to start thinking about your 2016 tax return. Year round record keeping is particularly important in the following areas See Also Amend Your Tax Return to Correct a Filing MistakeCollege. If you plan to claim
Tax Day Freebies and Deals 2016
Tax Day can be, well, taxing, but at least the pressure is off. Now it’s time to de stress with free (or nearly so) food and drink, along with other tempting deals. See Also 69 Valuable Things You Can
5 Things You Can Learn From Your Tax Return
The IRS receives roughly 150 million tax returns each year. If you’re like many Americans , preparing that filing is the closest look you’ve given to your finances for some time. Though it’s far from an exercise in budgeting, in many cases you can’t help but notice things such as investment activity, retirement
Tax Strategies Can Put Free Money in Your Pocket
By Craig Smalley Learn more about Craig on NerdWallet’s Ask an Advisor Many different tax strategies can put cash in your pocket, and on the cusp of Tax Day, you may be wondering which ones can help you for next year’s filing. These “free money” ideas can brighten your financial picture. Medical expenses
Amend Your Tax Return to Correct a Filing Mistake
I realize I made a mistake on my 2015 taxes. Is it too late to fix it? 9 Financial Fumbles You Can FixRules for Paying Off Back TaxesResolve a Complaint About an eBay PurchaseUndo Your Social Security Claiming DecisionResolve
Rules for Paying Off Back Taxes
I made a mistake on my tax return and now I’ve got a bill for back taxes. Will the IRS let me pay it over time? 9 Financial Fumbles You Can FixRules for Paying Off Back TaxesResolve a Complaint
Tax Deductions: Homeownership Has Its Privileges
Remember the day you moved into your first house? From the moment you slid that shiny new key into the lock to the moment you drifted off to sleep in the bedroom that was now yours, you knew this date would always be stamped on your memory. What’s more, you may even have a soft spot in your heart for the 15th of
Can 'Boomerang Kids' Help With Their Parents' Taxes?
About 43% of men and 36% of women ages 18 to 34 still live with parents or relatives, according to the Pew Research Center, but experts say there are a few things parents can do at tax time to help offset the costs of letting those adult children stay in the nest. As with parenting, though, it can be a tricky
What to Do With the New Proof of Health Insurance Tax Form
I just received a Form 1095 C from my employer about my health insurance. I already filed my taxes for 2015. Do I need to make any changes because of this form, and should I have sent it in
Save on Taxes on Your Parking and Commuting Costs
How can I get tax free commuter benefits? Is the money available for parking, or do I need to use it for the subway or bus? If your employer offers commuter benefits, you can set aside up to $255
Your March Madness Gambling Losses Could Soften the Blow of Tax Season
By Jerry Mitchell Learn more about Jerry on NerdWallet’s Ask an Advisor Late March is upon us, and that means tax season and the NCAA college basketball playoffs are underway. March Madness makes this time of year a little more fun, as fans get to delight in the roller coaster ride of triumphs and upsets. Not
Why We No Longer Fear the IRS
Our tax laws are complex and often difficult to understand. Tax professionals warn us of the perils of audits. Penalties for getting our taxes wrong can be stiff — up to and including jail for those who deliberately evade the taxman. So why don’t we fear the IRS? Clearly, we have some fears about April 15 . A
Fund Your Retirement, Save on Taxes Now
As you tackle your 2015 tax return, make sure you haven’t overlooked one of the best ways to cut your tax bill and secure your future funding a traditional IRA. (There is no upfront tax break for funding a
Tax Deadline Countdown: Who Gets to Claim the Kids?
As the countdown to file your tax return winds down to the April 18 tax deadline, the pressure builds as thousands of taxpayers contend with the vital issue of claiming dependents on taxes after divorce. Divorce procedures are financially and emotionally straining enough, but often, new divorcees are caught in a
IRS Warns of 400% Spike in Online Tax Scams
A client recently forwarded me an email that appeared to be from the Internal Revenue
IRS Tax Audit Red Flags
Ever wonder why some tax returns are eyeballed by the Internal Revenue Service while most are ignored? Short on personnel and funding, the IRS audited only 0.86% of all individual returns in 2014. And the audit rate
Beware (Tax Scammers on) the Ides of March
Tax scammers are now playing the good cop bad cop game. For months, taxpayers have been receiving aggressive and threatening phone calls from crooks who claim to be IRS agents and demand immediate payment of back taxes with a
7 Hidden Tax Breaks for Retirees to Maximize Tax Refunds
Managing your taxes in retirement can be quite an undertaking. When it comes to filing taxes, there are many write-offs you should consider. Make sure you understand all of the tax deductions, write-offs and tax breaks for retirees that might apply to you. To maximize your deductions and your tax refund, learn
What to Do If You're a Victim of Tax ID Theft
If you believe someone has filed a tax return in your name either because your return bounced back or you received a notice from the IRS about a suspicious filing notify the IRS Identity Protection Specialized Unit at 800
4 Sure-Fire Ways to Pay Less on Your Tax Bill
Are you facing a hefty tax bill this year? If so, don’t panic — there are ways you can lower your tax bill and keep more money in your pockets. In addition to claiming tax breaks, deductions and credits , give these four smart tax strategies a try: 1. Use a Tax Software Program If your return is simple, using tax
4 High-Earner Tax Tips That May Help Middle-Class Filers, Too
Minimizing taxes is an important part of building wealth and financial security, which is why there’s a lot to learn from people who have presumably done that already — people the IRS dubs “high earners.” A look through IRS data on individual tax returns for 2013 and 2014, for example, reveals that some deductions
A Tax Break for Long-Term-Care Insurance Premiums?
Can I take a tax deduction for my long term care insurance premiums? Maybe. If you have a tax qualified long term care insurance policy, you may be able to deduct a portion of your premiums as a medical
8 Ways to Save on Your 2015 Tax Return
Tax procrastinators, rejoice. You have until April 18 (April 19 if you live in Maine or Massachusetts) to file your tax return this year. That’s because federal offices in Washington, D.C., will be closed on Friday, April 15, for
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