Sure, the wealthy pay taxes (or at least claim to), but they often use legal loopholes and strategies to greatly reduce their tax burden. These tactics frequently take advantage of deductions, business structures, and financial instruments to minimize the amount…
The idea of having the IRS knocking at your door, your garnishing your wages is kind of terrifying. But what happens if you don’t pay taxes on time? Will you simply just get hit with a penalty or late fee?…
Most people have heard of tax brackets, but do you really understand how they work? Understanding tax brackets is an important part of one’s personal financial literacy, especially when calculating one’s post-tax income. Even so, a few things in life…
Going to the mailbox will be a little less anxiety-inducing for parents in the coming months. Mixed in with all of the bills will be a letter about the pending Advance Child Tax Credit. The IRS released the child credit…
We will explain what those differences are and try to give you some clarity in relation to how what you may perceive as passive income is taxed.
Where’s my tax refund? That is the question everyone is asking this year. When you’re owed a refund from the Internal Revenue Service, the last thing you want is a…
2020 was a banner year for brokerages of all shapes and sizes. But now new investors are learning the tax implications that come with DIY day-trading apps like Robinhood. During…
The $1.9 trillion American Rescue Plan signed last month contains new and expanded child tax credits. And while the credits are technically tied to 2021 tax returns, which you won’t…
This is a tax season unlike any other. With most (but not all!) states extending their deadlines until May, taxpayers have a little extra time to get things in order.…
More and more people are now earning their money through passive income from various investments. These income streams may veer away from traditional jobs, however, they still have their own…
Taxes. Are. The. Worst. But they are never going away so no sense in complaining. The best thing you can do as an American citizen is find legal ways to…
Tesla and SpaceX founder, Elon Musk recently announced that you will now be able to buy a Tesla with Bitcoin. This is a huge step for the market leading cryptocurrency,…
Real estate offers many ways to make money. It can be sold at a profit, rented, or bought through real estate stocks, bonds, or funds. Further, you can even profit when…