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Archive for the ‘Taxes’ Category

Time to think about taxes, again!

Written by Suba Iyer - One Comment

Yes, I know we’re just past last year’s tax season, but good tax planning works only if we start early enough for the current year. Having last year’s tax return still fresh in memory gives us a great start for next year’s tax planning.
Understand how your income is being taxed
Do you know what your effective tax [...]

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Published on April 21st, 2014
Modified on April 15th, 2014 - One Comment
Filed under: Planning, Taxes
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Tax refunds: Why following the crowd makes sense

Written by William Cowie - 13 Comments

A few weeks ago, someone pulled out a gun and shot four people in a Detroit tax preparer’s office over a late income tax refund. Though such outrageous reactions are rare, thankfully, there is a surprisingly emotional division among people on the issue of whether it is best to aim (no pun intended) for a tax [...]

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Published on April 2nd, 2014
Modified on March 28th, 2014 - 13 Comments
Filed under: Taxes
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Expensive tax mistakes to avoid

Written by Suba Iyer - 2 Comments

Tax season is in full swing. Thanks to tax preparation software, a lot of the common mistakes (i.e., missing social security numbers) are now automatically detected. Still, they are only capable of checking for math accuracy and missing fields. They can’t optimize a tax return to get the maximum amount possible or compensate for our misunderstanding [...]

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Published on March 24th, 2014
Modified on March 17th, 2014 - 2 Comments
Filed under: Taxes
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What you need to know about the impending Obamacare deadline

Written by William Cowie - 6 Comments

Tick, tick, tick – March 31 is the new deadline to get health insurance coverage. This time, the government is digging in its heels. There will be no extension. Some say the government will cave in (again) and move the deadline, but that’s by no means a certainty. The April Fool’s joke might be on you [...]

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Published on March 19th, 2014 - 6 Comments
Filed under: Insurance, Taxes
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Documents you need to bring to your tax appointment

Written by FCN Staff - Leave a Comment

This post comes from Victoria Araj from the Quicken Loans Zing! blog.
It’s tax season, and that means it’s time to sort through your shoebox of receipts, those envelopes of stock statements and that drawer of paperwork that hasn’t been touched in 12 months.
Depending on your income, assets, marital status and a host of other life factors, [...]

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Published on March 14th, 2014
Modified on March 11th, 2014 - Leave a Comment
Filed under: Taxes
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Popular Homeowner Tax Benefits Might Disappear in 2014

Written by FCN Staff - 2 Comments

This post comes from Sean T. Johnston at our partner site Zing
If you’re a tax-paying homeowner, there might be some bad news on the horizon.
Our legislators in Washington, D.C. haven’t exactly seen eye-to-eye on a lot of things in 2013. In addition to contentious and ongoing debates on the debt ceiling and sequestration cuts, it appears as [...]

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Published on January 17th, 2014 - 2 Comments
Filed under: Taxes, Uncategorized
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Refund, or no refund?

Written by William Cowie - 7 Comments

This post is from new staff writer William Cowie.

How do you approach your income tax withholding? Do you opt for a higher withholding in order to get a refund, like 85 percent of all Americans (according to a recent survey)? Or do you go for the minimum and pay in when you file your taxes? Most articles [...]

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Published on June 12th, 2013
Modified on July 4th, 2013 - 7 Comments
Filed under: Taxes
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The battle between accountants and investment managers

Written by Richard Barrington - 3 Comments

This post is from staff writer Richard Barrington.
I was recently invited to review an investment technique called “automated tax-loss harvesting.” It reminded me of the never-ending struggle for primacy between investment managers and accountants when it comes to portfolio management.
By way of disclosure, I should note that I have never been an accountant, while I [...]

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Published on April 15th, 2013 - 3 Comments
Filed under: Saving & Investing, Taxes
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How to Request an IRS Income Tax Extension

Written by Nickel - One Comment

It’s that time of year again… Taxes are due in less than three weeks. If you haven’t finished your returns (like we have!) it’s time to get cracking.
But what if you’re not going to make it? Well, I have good news and bad news for you. The good news is that you can request [...]

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Published on March 27th, 2013
Modified on April 15th, 2013 - One Comment
Filed under: Taxes
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Twelve Tips for Minimizing Your Tax Bill

Written by Nickel - 4 Comments

Want to reduce your taxes? Of course you do. We all do. Well, the latest issue of Money Magazine has a list of 12 ways to reduce your taxes. Here’s a quick rundown along with some thoughts on each.

Deduct state sales taxes. You have a choice between deducting state income taxes or state sales taxes. [...]

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Published on March 25th, 2013
Modified on April 15th, 2013 - 4 Comments
Filed under: Taxes
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