Resolving tax issues is a significant milestone that can bring both relief and a renewed sense of financial responsibility. However, tax resolution is only the beginning of a long journey toward financial stability and growth. Long-term financial planning post-tax resolution involves assessing financial habits, rebuilding credit, managing tax obligations, and setting long-term financial goals. By […]
I Forgot to File State Taxes. Now What?
Every year like clockwork you conscientiously pay your state income taxes, but this year you spaced and missed the deadline. Don’t panic. Forgetting to file state taxes is more common than you might think. The good news is that there are steps you can take to fix the situation and minimize any financial impact. If […]
What is the American Opportunity Credit?
The cost of higher education continues to rise, making it increasingly difficult for students and families to afford tuition and related expenses. Fortunately, the American Opportunity Credit (AOC) offers financial relief by providing a tax credit to offset some of these costs. This credit helps eligible students and their families reduce their tax liability while […]
Saving for College: 529 Plan Tax Benefits
Saving for higher education tuition can be overwhelming. However, it can be a little easier with the help of a college savings account. By saving earlier and more efficiently, you can increase your savings for education, whether it is for your children, a family member, or even yourself. One of the most popular types of […]
How to Avoid Tax Fraud Scams in 2025
Tax fraud scams continue to evolve, becoming more sophisticated each year. In 2025, scammers are leveraging new technologies, including artificial intelligence and social media, to deceive taxpayers. The consequences of falling victim to tax fraud can be severe, ranging from identity theft to financial loss and legal complications. Understanding how these scams operate and taking […]
The Pros and Cons of Filing Taxes Early vs. Waiting
As tax season approaches each year, one of the most common decisions taxpayers face is whether to file their taxes early or wait until closer to the deadline. While there is no one-size-fits-all approach, understanding the pros and cons of each option can help individuals make an informed decision that suits their unique situation. This […]
Where to File and Pay Taxes as a Digital Nomad
The rise of digital nomadism has transformed how people work, allowing individuals to earn an income while traveling the world. However, while the freedom to work from anywhere is appealing, it also raises complex tax questions. Digital nomads must determine where they are required to file taxes, which country has the right to tax their […]
Tax Guide for Online Sellers: What Happens When You Sell Personal Items
Selling personal items online has become a common practice. Many people do this through platforms like eBay, Facebook Marketplace, Offerup, or Poshmark. Many people sell items they no longer need, such as clothing, electronics, or furniture. While selling a few personal belongings may seem straightforward, there are tax implications to consider. Understanding when and how […]
What is Imputed Income?
While you may not have heard of the term “imputed income,” chances are that you might be receiving it from an employer. Imputed income is essentially non-cash goods or services that you receive from your employer as a form of income. Many people think of taxable income as only the money they receive in their […]
What is the Lifetime Learning Credit?
Higher education is one of the most significant investments individuals can make. However, the rising cost of tuition can be a financial burden. To help ease this burden, the IRS offers various tax credits for education-related expenses. One such credit is the Lifetime Learning Credit (LLC). The LLC provides taxpayers with an opportunity to reduce […]