If you’re a retiree or someone who plans to retire, it can be helpful to consider tax planning options with a financial advisor. There are several states in the U.S. where you aren’t responsible for taxes on certain things that you may otherwise be required to pay for...
Capital gain is a concept within economics that describes the profit that is made after a sale of an investment or an asset. Assets that can provide capital gain include properties, cars, stock and even businesses. Some states have required that people pay taxes for...
The arrival of the 2022 tax season will introduce taxpayers to several new changes. While income tax rates are remaining the same, as they have since 2018, the brackets into which each individual or married filing jointly taxpayer falls may not be the same as it was...
If you received Letter 6419 in the mail, then you are likely eligible for further child tax credits from the IRS in 2022. Many families received half of the newly expanded child credit payments in the previous year. But the rest of the payments will be going out...
Taxpayers will be facing uncommon challenges this year. Job losses have impacted the finances of American taxpayers at an unprecedented rate, with an estimated 9.6 million people between the ages of 15 and 64 having lost their jobs. Economic Impact Payments, more...
A prepaid college savings plan is an education savings plan that allows you to save for your child’s college education costs. It’s a type of 529 plan, the name of which comes from section 529 of the Federal Tax Code; 529 savings plans allow an account holder to buy...
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