For people who have been to prison, getting their life back on track when they are released can be very difficult due to a loss of some civil rights. Every year, hundreds of thousands of people are put in jail all over America, and each of them will struggle to reintegrate when they are released…
Do I Report 401k On Taxes? (Best Guide!!)
401K is seen as a type of retirement saving plant which was first introduced to America in 1978. Generally, 401k is not seen as taxable income, thereof you don’t have to report your 401k on your tax return. However, if you happen to take any distributions from your 401k, then by law you are legally…
Are Lawsuit Winnings Taxable?
So, you have just won a big case or the people you were taking to court have settled. And you are looking at a big payday. Will you get to keep all of that money or will the IRS be taxing you on it? Sadly, unless exempt by law, the majority of lawsuit winnings are…
Do Food Stamps Affect Your Taxes?
If you have been on a low income for a long time, or have been an unemployed adult in the past, then you will likely be familiar with the government’s Supplemental Nutrition Assistance Program or SNAP for short. However, most people will recognize them by their common name, food stamps. Food stamps, despite their often…
Are IRA Contributions Tax Deductible?
Are IRA contributions tax-deductible? Well, yes and no. If you qualify, then yes they are. However, if you are putting contributions into a Roth IRA, or another non-traditional IRA, you will not qualify for a tax deduction. In this article, we will be talking about traditional IRAs and what it takes to qualify for the…
Are Church Donations Tax Deductible?
One of the most common types of charitable donations made by Americans every year is donations to their church. There is a wide variety of different religions that are practiced within the US and what a lot of them have in common is encouraging charitable donations. These donations are usually put towards helping run the…
Are Credit Card Rewards Taxable?
It is always important to know what is and is not getting taxed in your personal taxes as this can be the difference between properly filling out your tax return, and getting in hot water with the IRS. If you can feel tax season approaching, and you are not sure about what is and what…
Do LLCs File Tax Returns?
Filing the correct amount of tax can be a difficult task for even just one person, because they need to make sure they account for all the proper types of income that they’ve had during that tax year, as well as the correct amounts of them. If you don’t get it right, then you can…
Do Landlords Pay Tax On Rent?
An estimated 10 million Americans earn income from rental properties each year. Renting out private property is a great way to generate additional income, but it must be done correctly. Unfortunately, too many landlords rent out sub-par housing to their tenants and reap extortionate profits, giving landlords the world over a pretty bleak reputation. Some…
Do Property Taxes Change?
Property taxes in the US are imposed by individual states, i.e. at the local level. Each state will have its own set of guidelines that inform local governments in any given jurisdiction how much they can tax local residents. It’s worth noting that in terms of revenue, property taxes make up the largest source of…