As many of us are aware of, there are many business expenses that can be deducted from our taxes, whether we are self-employed, or we are owners of our own company. However, there are so many different types of expenses that business of any size make as part of their daily operations, that missing some…
This year’s tax season is over for the 103 million taxpayers that were able to file their taxes before the due date of April 15. However, many taxpayers are unhappy as they received a smaller tax refund than they had anticipated. According to the IRS, they paid a total of $220.7 billion in tax refunds…
Hail storms are not that common in California, but last March, the sunny state was hit with massive rains and a hail storm that shocked both residents and tourists. Even when this is not common, weather is unpredictable, and hail can be particularly harmful and cause serious damage to our cars. Therefore, we need to…
Everybody can use a hand when it is time to file your taxes. Luckily, we have plenty of time ahead of us, as tax season for 2018 just finished, so we’re in time to start preparing for next year’s season. In order to make the process much easier and simpler, we can start planning ahead and preparing…
When it comes to taxes, there are only a few moments of calm for taxpayers, as taking a breath of relief after filing their taxes is only the sign of the work that needs to be done to start preparing for next year’s return. Because of the tax code changes that resulted from the Tax…
With the summer being so close, one of the last things on our minds would be tax season, since most of us took care of our income tax report a couple of months ago, and don’t plan to start working on next year’s later this year. However, scammers are not known for taking vacation breaks,…
Medical expenses can represent a significant portion of our yearly income, with the average American spending almost $10,000 a year on health care. This might sound like quite a financial burden since there aren’t many options available when we need to cover medical charges. However, medical expenses can be deducted from our income tax report,…
When the time for retirement comes, we must be prepared to cover our everyday expenses but without the same income as we used to have. One of the biggest challenges that we face during retirement is covering our health care expenses. According to the Center for Retirement Research, the average retiree spends around $4,000 a…
Tax season ended a couple of months ago, and many of us have started to think ahead and prepare for next year’s taxes instead. However, we might want to go back to our tax return and make sure we submitted everything properly and without errors. Even when the IRS processes and corrects and math error…
There are many different misconceptions that some of us might believe, whether because of lack of information or because we heard someone close to us repeat them. However, debunking these common tax myths will help us have a better understanding of how taxation in the US actually works. We will also feel more confident and trusting…