Whether you love them or hate them, like death, taxes are pretty much a universal certainty that ordinary people have to deal with. It’s the only way that the wheels of daily life often function, so it is often on us to pay that burden. Fortunately, there are at least a few systems in place…
Category: Taxes
How Is Passive Income Taxed?
These days, there are more opportunities to earn some extra money than ever before. However, a lot of people will feel exhausted at the idea of earning additional income, when they’re so wrapped up in the time-consuming nature of their regular job. How can they possibly do some extra work on top of that? Well,…
Can You Deduct Gas On Taxes?
For many of us, work often takes place outside the office. The commute from work to personal and back again is just one of the many journeys an employee can expect to make. But the costs of these journeys can quickly add up, particularly for self-employed individuals. While these may seem like work expenses, many…
Do Property Taxes Come Out of Escrow?
With owning a home comes a significant amount of financial responsibility. Along with monthly mortgage payments, homeowners are also responsible for property taxes. This is where an escrow account can be beneficial to help people keep money aside for these expenses. So, how does it work? This article will explain what an escrow account is,…
Are 401 K Contributions Tax Deductible?
When employees have a 401 (K) plan, then it acts as a personal pension account, building up money for the employer to use when they later retire. However, with all the money that goes into a 401 (K) plan, you might be wondering if that money is tax deductible – meaning that it can be…
Do Beneficiaries Pay Tax On 401k Inheritance?
If you have worked hard all your life, you’ll want every cent of all the money you earned to go directly to the beneficiaries, whether it’s your children, a charity that’s close to your heart, or simply a family member or friend. But, if there’s a tax for the beneficiary to pay on receipt of…
Do I Report Stimulus Check On Taxes?
During the COVID-19 pandemic the US government has sent out stimulus payments to eligible citizens to help with the economic situation. This payment was not intended to be paid back and was to help with coping with the increased cost of many necessities as well as how drastically the job market was changing. Many people…
Can I Start Over On TurboTax?
Calculating and filing your taxes can be a very difficult and time consuming process, especially if you’ve got lots of factors to put into it. On top of that, you really don’t want to make a mistake when it comes to filing your taxes, because there can be penalties. This is why software such as…
Can Unemployment Take Your Taxes For Overpayment?
Unemployment can be one of the hardest parts of a person’s life. Many have known the struggle of having to rely on unemployment benefits to live day to day. Currently 3.6 percent of Americans are unemployed, that may seem a small number but that accumulates to just under six million Americans. Six million puts into…
Do Celebrities Pay Taxes?
In this day and age, celebrities are all around us. Whether it’s on social media or the news cycle, celebrity gossip is everywhere. We can’t help but be fascinated by them and how their lives compare to our own. There have always been stories about celebrities and the state of their finances, especially as the…
