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I Was Temporarily Furloughed and Then Came Back to Work, What Does That Mean for My Taxes?
January 24, 2021Temporary Furloughs and Taxes I was temporarily furloughed and then came back to work, what does that mean for my taxes? Whether you are furloughed, laid off or fired, it hurts. It’s a blow to your ego, and losing a regular paycheck is a blow to your finances. Fortunately, for many it was temporary, and after the initial weeks and ... Read More
Social Security Withholding Tax Deferral and What It Means For You
January 24, 2021Social Security Withholding Tax Deferrals What is the Social Security withholding tax deferral and what does it mean to me? Most employers are required to withhold 6.2% in Social Security tax from their employees’ pay and submit it plus a matching amount to the government. But in August President Trump signed an executive order allowing employers to temporarily suspend withholding ... Read More
Five Hidden Ways to Boost Your Tax Refund
January 24, 20215 Hidden Ways to Boost Your Tax Refund Tax Credits Are Often More Valuable Than Deductions Tax time is just around the corner. Wouldn’t a big fat tax refund come in handy? Well, here are steps you can take now to boost your tax refund when you file after the first of the year. 1. Itemize your deductions. The ... Read More
Tax Credits vs Tax Deductions
January 24, 2021Tax Deductions vs Tax Credits Tax Credits Are Often More Valuable Than Deductions If you are confused about the difference between a tax deduction and a tax credit, you are not alone. A deduction is subtracted from your income, lowering your taxable income and your income tax. But a tax credit kicks in after you have computed your income tax, reducing that ... Read More
Taxes and Remote Workers
January 24, 2021Taxes and Working Remotely Your Top Tax Questions About Working Remotely, Answered. Last spring, many of us were asked to leave the office and begin working remotely from home. If you were one of them, you know that presented a lot of issues to be solved as you juggled work and family, including children newly banished from their schools. It ... Read More
Tax Tips for Unemployment Income
January 24, 2021Tax Tips for Unemployment Income We’re answering your questions around taxes and unemployment. If you lost your job or were furloughed this year, we are so sorry. If you were lucky, your company may have paid you furlough or severance. Either way, you likely applied for unemployment benefits, once you could get through on the busy, busy phone lines. And ... Read More
The Impact of Stimulus Payments on Your Taxes
January 24, 2021The Impact of Stimulus Payments on Your Taxes We’re answering your questions around stimulus payments and your taxes. What a year 2020 has been! New Year’s celebrations were barely over when the coronavirus turned things topsy-turvy. But one bright spot for 159 million people was the $1,200 Economic Impact Payment that appeared in their mailbox or checking account. If you ... Read More
Paying Taxes
January 24, 2021Paying Taxes Whether you’re buying a new home, changing jobs, getting promoted, starting a business, or raising children, you’ll run into income tax implications. But that doesn’t always mean you’ll owe more to the federal government. Looking ahead and planning for the next year, you can make decisions that will reduce or at least postpone the tax you owe. The ... Read More
Members Save up to $15 with TurboTax
January 22, 2021Save Up to $15 on TurboTax Get Your Maximum Refund and Special Savings on TurboTax Getting your biggest possible tax refund has never been easier. From simple to complex taxes, TurboTax® has you covered. Taxes made easy. Just answer questions about your year, anytime and from any device, and TurboTax fills in all the right forms for you. Real experts standing by. With ... Read More
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