Cash and tax benefits can come with a spring cleaning. And even when items aren’t highly valuable, clearing them out has benefits.
Tax tip of the week: Spring cleaning can improve finances too
Tax tip of the week: PBS’ ‘Two Cents’ is the free financial resource you’re overlooking
“Two Cents” has hundreds of short, engaging episodes – often just a few minutes long – designed to make money topics easier to understand.
Tax tip of the week: Go to the backdoor Roth IRA when there are limits at the front
Here’s a way to build tax-free retirement income and reduce future required minimum distribution concerns with create greater financial flexibility.
Tax tip of the week: Missing the tax filing deadline isn’t cause for panic
To start with, if you’re owed a refund, there’s no penalty for filing late. Even if you owe, missing a deadline shouldn't be fatal.
Tax tip of the week: Your employer can contribute to a kid’s Trump Account starting July 4
Unlike your contributions, which are after-tax, employer contributions come pretax, similar to how a company might contribute to a retirement plan.
Tax tip of the week: Trump Accounts aren’t tax free, but some kids can get $1,000 to start
The advantage to these new financial tools comes from tax-deferred growth, early investing and a $1,000 government contribution.
Tax tip of the week: Maybe this is the year you should itemize deductions
With the cap rising it $40,000, more taxpayers may now find that itemizing results in a larger deduction than taking the standard deduction.
Tax tip of the week: The IRS sends refunds before it finishes checking what you file
A refund isn’t the finish line. Your return is generally “closed” only once the IRS statute period expires.
Tax tip of the week: Four reasons to file taxes with low income, some that put money in your pocket
In many cases, filing a tax return can put money back in your pocket even when income is relatively low – including from prior years.
Tax tip of the week: The IRS has three years on its audit clock. Get it started by filing on time.
The IRS has a limited time to review and challenge a tax return. Filing a return promptly helps ensure this clock begins running as early as possible.