What To Do About Debt Post-Marriage
I got married and found out my spouse owes back child support, student loans and owes the IRS – what do I do now?
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Retired? Know What You Owe
I’m retired and over age 65 – what taxes do I owe? This is a complex question that varies depending on your income.
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Are You Still Waiting for Your 2021 Tax Returns?
The IRS is slowly processing tax returns from 2021. Due to issues related to the pandemic and staffing limitations, the IRS is working through a large inventory of paper tax returns and correspondence.
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Major Life Changes That Can Affect Your Taxes
From moving jobs to divorce, there are a lot of big life changes that can happen. How do they affect your taxes?
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Don’t Forget to File Your Local Tax Return
Did you file your taxes online? Then it’s possible you forgot to prepare a Local Income Tax Return. Most online tax software does not prepare or file a local income tax return. In the state of Pennsylvania, a local income tax return is required in most counties. You pay 1% or in some areas a…
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How to File Taxes as a Self-contractor
“I’m paid as a self-contractor – what should I be doing to prepare for taxes?” If you are paid as a self-contractor and no taxes are being withheld from your pay then you’re responsible to pay the federal, Social Security, Medicare, state and local taxes on this income at tax time. You also can deduct…
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Virtual Currency, Cryptocurrency and Taxes
What is virtual currency? Virtual currency is a digital representation of value, other than a representation of the U.S. dollar or a foreign currency (“real currency”), that functions as a unit of account, a store of value, and a medium of exchange. Some virtual currencies are convertible, which means that they have an equivalent value…
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How to File Taxes for Years Past
What if I missed a tax year and didn’t file my taxes? You can file your taxes any time, however, if you owe the IRS for that tax year you will incur hefty penalties and interest from the due date of the tax return. If you’re due a refund, the IRS will pay you interest,…
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How To Not Owe 2022 Taxes
Owed taxes? How do I fix it for next year? There are many ways to adjust your tax situation now, so you won’t owe 2022 taxes. If you are an employee and are paid on a W2, then fill out a new W4 with your employer. The easiest way is to take the amount you…
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The Deadline to File Is Almost Here, Need an Extension?
The April 18th deadline is approaching fast, what happens if you’re not ready to file? You may request up to an additional 6 months to file your U.S. individual income tax return. There are three ways to request an automatic extension of time to file your return. You must request the extension of time to…
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