Most do not realize that after a loved one passes away, it’s typically the responsibility of the surviving spouse or representative to file a final tax return on their behalf. Filing taxes for a deceased person can be a complex and emotionally challenging task. However, it is essential to ensure that the decedent’s financial matters are […]
Do I Need Health Insurance to File Taxes?
Filing taxes can be a complex and daunting task, with various rules and regulations to consider. One common question that often arises is whether you need health insurance to file taxes. The answer to this question is intricately tied to the Affordable Care Act (ACA) and its provisions. In this article, we’ll explore the relationship […]
Tax Tips for Social Media Influencers
Social media influencers have become a prominent and lucrative part of the digital landscape. With millions of followers and lucrative brand partnerships, many influencers are turning their passion for content creation into a full-time career. However, with great success comes greater financial responsibility, including managing taxes. In this article, we’ll provide valuable tax tips for […]
What is the Presidential Election Campaign Fund?
Every year when you file your taxes, you are asked a question about whether you want to donate $3 to the Presidential Election Campaign. The Presidential Election Campaign Fund (PECF) is a system of public funding for presidential campaigns in the United States. It was established as a result of the Federal Election Campaign Act […]
What You Need to Know About Tax Exemptions
When doing taxes, you may come across the term “exempt.” You may see it when reading about tax-exempt workers or tax exemptions. While these terms affect how you are taxed, they do have different meanings. That said, it’s very important to know these differences to avoid trouble with the IRS. Here’s what you need to […]
What to Know About Schedule H: Household Employment Taxes
If you have anyone doing work around your home, it’s possible they may be considered household employees. Consequently, you’ll have some additional responsibilities at tax time, including filing a Schedule H. Schedule H reports household employment taxes to the IRS. Here’s an overview of Schedule H. What is Schedule H? Schedule H, Household Employment Taxes, […]