Taxes are what you pay to the federal, state and local governments where you live. Different types of taxes include income taxes, capital gains tax, sales tax, estate tax and real estate taxes such as property tax. Learn how to bequest property and do transactions in a way that will help you pay less taxes and follow the law.
Could Unpaid Debt Affect My Tax Refund?
Could unpaid debt affect my tax refund? Here are three reasons the federal government may hold onto your tax refund to cover unpaid debt. With tax season upon us, many people may be looking forward to their refund as a way to pay down existing debts. However, certain existing debts could prevent you from seeing [...]
4 Common Errors to Avoid When Filing Your Taxes
4 common errors to avoid when filing your taxes. How to avoid errors that could delay your tax refund or require a lengthy amendment process. Everyone makes mistakes, but if your mistake happens to come in the middle of filing your taxes, you may find yourself facing a delayed refund (if you’re owed one), or [...]
Do I Have to File Income Taxes for More than One State?
For some, the process of filing income taxes can be a complicated one; however, it can become even more complicated for those who need to file returns for more than one state. This is where Maryland CPA John Curtin sees the most confusion among his clients. The rules for paying income taxes as a non-resident [...]
6 Questions to Ask Your Tax Preparer
6 questions to ask your tax preparer. Ask these basic but important questions to determine which tax professional you should hire. If you’ve decided that you will not be handling this year’s tax filing yourself, even with the help of an online filing program, there are plenty of professional tax preparers willing to do it [...]
Six Tax Resolutions for the New Year
It’s a fresh, clean new year. We indulged ourselves last month and ended the year with a blast. Now, it’s time to come back down to earth and face financial reality. Luckily, I have some tax tips you might find helpful as you try to stick to your financial goals and resolutions. 2012 brings us [...]
Four Things to Know About Filing Taxes as a Teen
For many teenagers, the after-school job is a rite of passage—a ticket to independence and disposable income. But once they have a job, do teenagers need to file their own tax returns? Whether you are the parent of a teenager or a teen yourself, here are four things you should know about taxes for teenagers. [...]
Your Tax Checklist: Six Months Ahead of Filing
Income tax season is months away, and you may still be basking in the glow of being done with this year's filing. But if you’re looking to make next year’s taxes easier on you and your budget, a little preparation now could be very helpful. “The starting point for tax planning is at the previous [...]
Tips for Calculating What You Might Owe in Taxes
The very best way to project your tax liability is to work with a tax professional who uses professional tax tools. So, the first tip to calculating what you owe is to establish a relationship with a tax preparer that you see at least once a year for a consultation. Even if you prepare your [...]
Tax Planning and Retirement
When you’re preparing for retirement, one of the many things people think about is retirement savings. You’ve worked hard and invested for retirement, but you want to help ensure your money lasts as long as you need it. One way some people extend the life of their savings during retirement is to plan their distributions [...]
Back-to-School Tax Holidays and More Tax Holidays
When it comes to taxes, every little break helps, which may be why tax holidays are so popular. Each year, a number of states give consumers a break on paying sales tax, for a couple of days or up to a week, on items like clothing, footwear, school supplies, and even computers. In 2015, sixteen [...]