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Estimated Tax Payments
When you have income from sources other than traditional employment, it often becomes necessary to make Estimated Tax payments since you don’t have withholding (as you would from traditional wages)....
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State Income Tax and Retirement Income
On only a few rare occasions does it make sense to defer money to your 401(k) or other employer sponsored plan instead of a Roth IRA. Those occasions include when your gross income excludes you from...
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Medicare Part B
English: image edited to hide card’s owner name. author: Arturo Portilla (Photo credit: Wikipedia) The next letter in our Medicare alphabet soup is Part B. Part B is essentially medical insurance that...
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3 Reasons to use the new safe harbor home office deduction and two reasons...
home office (Photo credit: Sean MacEntee) Home office workers! In case you hadn’t heard about it, the IRS made some changes to the way the home office deduction works for 2013. Essentially, you are...
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Same-Sex Joint Filing
Joint (Photo credit: Chris KWM) One result of the strike-down of DOMA is that legally-married same-sex couples will now be required to file federal tax returns as marrieds – either...
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So, What’s Going on at the IRS During the Shutdown?
(Photo credit: Wikipedia) While the government is in hiatus, what’s going on at the IRS? Well, not a lot. As I understand it, none of the phone lines are being manned, so if you call in for any reason...
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You’re Running Out of Time If You Want to Use These 13 Tax Provisions
An assortment of United States coins, including quarters, dimes, nickels and pennies. (Photo credit: Wikipedia) Every year we say goodbye to certain things that we’ve come to know and love, and certain...
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Flex Spending “Use it or Lose it” is a Thing of the Past
Prescription (Photo credit: quinn.anya) If you have a Flex Spending Account (FSA) for healthcare expenses through your employer, you are familiar with the “use it or lose it” concept. Each year during...
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Charitable Donations
This time of year many people find it in their hearts to give. They’ll give to friends, family, loved ones and charitable organizations that can help maximize the gift such as a church, charity, or...
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A Quick Trick to Reduce Your Tax Liability
Now that most folks are recovering from tax time there may be some individuals that paid an excessive amount of tax to Uncle Sam and are looking for ways to reduce their tax liability for next year....
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