One of the most exciting times of the year for parents with school aged children happens on the first Friday, Saturday, and Sunday of August. The tax-free weekend is a popular ‘event’ that happens once a year. School is an expensive thing to plan for, so the Ohio Department of Taxation gives one weekend out…
Category: Taxes
What Happens If I Don’t File A Gift Tax Return?
A gift tax occurs when one person or business gives money to another individual or company. If this money is taxed, then the amount it is taxed is referred to as gift tax. Essentially, it is a tax that accompanies money that has been gifted to you. It is recommended that you file a gift…
When Is Tax Free Weekend In South Carolina?
The idea of being able to avoid sales tax, and to save massive amounts of money on things you buy is certainly an alluring one. We love to save money, and even more so to save money on things that might otherwise be very expensive. That’s why tax free weekends, otherwise known as tax holidays,…
When Is Tax Free Weekend In Florida?
Are you interested in learning more about Florida’s tax free weekend? If so, you have come to the right place. We have all the information you need to know, including when the weekend occurs and what products are exempt from tax. This is your guide to the tax free weekend in Florida. When Is Tax…
Best Tax Shelters
A tax shelter is any legal strategy that you undertake in order to reduce the amount that you owe in taxes. When you think about the term tax havens and tax shelters, what immediately comes to mind is greedy 0.1% billionaires trying to hide away their wealth on a remote desert island. You may…
Are Stock Losses Tax Deductible?
When the IRS is mentioned, people tend to assume this body with how they police paying taxes, but what is often overlooked is how this institution is also in charge of offering tax breaks and other services which can make paying back your taxes significantly easier. Knowing how to fill out your tax return is…
Can You Change Social Security Tax Withholding Online?
It’s important to know what your tax holding should be and that it will be sufficient to cover the taxes that you owe. Sometimes it may be necessary to change your social security tax withholding, but you may be unclear how to go about doing this. We will look at whether you are able to…
Are New York State Tax Refunds Delayed?
If you are expecting to be refunded money owed to you, you need to know when you can expect to receive it. Disruptions to the receipt of money due can be very problematic because outgoings don’t stop just because incoming money is delayed. And if you don’t know when the money is due to arrive,…
Are Closing Costs Tax Deductible?
There is a lot to think about when you’re filing out your taxes, hoping that you include every little thing that the Internal Revenue Service (the IRS, the body that collects your taxes) will need to know about. Filing taxes can be especially difficult for people who have just bought a home, with lots of…
Are Bonuses Taxed Differently?
You’ve earned bonuses for this year? Hooray! But do you have to pay your taxes on them? Yes, bonuses are considered supplemental wages by the IRS so they need to be taxed as regular income is. The good news is that it is your employer’s responsibility to work out how much to withhold from your…
