If you spent time unemployed last year, you might be wondering how that’ll affect your tax return this year, especially if it was your first time ever being without work. When it comes to unemployment and taxes, you might have some questions. Here’s a breakdown of how unemployment affects your taxes. Is Unemployment Taxable? Perhaps […]
Tax Guide for New Investors
When considering investing, you may first daydream of the potential rewards of the risky endeavor. But as a new investor, it can be overwhelming to navigate the world of taxes. However, understanding the basics of taxation can help you make informed decisions and avoid costly mistakes during tax time. In this brief tax guide for […]
Ask Phil: What is a Tax Attorney?
Today, Phil explains what a tax attorney is, including what it takes to become one and how they can help you with your tax issues. What is a Tax Attorney? A tax attorney is a legal professional who specializes in tax law. They are trained and experienced in dealing with complex tax issues, including tax […]
What is the Kiddie Tax?
Navigating the complexities of taxes can be challenging for anyone. When it comes to families with children, there are additional considerations to be aware of. One such consideration is the IRS Kiddie Tax. This set of rules is specifically aimed at taxing unearned income of certain children at their parent’s tax rate. Understanding how the […]
How Much Do I Owe the IRS?
Discovering that you owe back taxes to the IRS can be a stressful and overwhelming experience. Whether due to oversight, financial hardship, or other circumstances, it’s essential to address this issue promptly and accurately. However, determining the exact amount of back taxes owed can be complex. In this article, we’ll outline steps and resources to […]