3 Things You Should Know About Tax Audits
The idea of a tax audit concerns many of us. And why wouldn’t it? The thought of the IRS coming after you, telling you that you owe more money and potentially garnishing your wages can be very daunting. Before you get too worked up about a tax audit, here are three things you should know:
1. […]
Energy Efficiency Tax Credits Still in Effect for 2016
A few years ago, the government announced that taxpayers could spend money to install energy efficient systems and receive tax breaks. Those tax credits have been set to expire for some time, but Congress has renewed them for another year. In some cases, the tax credits have been renewed for even longer.
If you want to save money with […]
What are FICA Taxes?
When you received your first paycheck, you were probably surprised to discover that what you told you are earning, and what you actually come home with, are two different things. Due to tax withholding from your paycheck, your take-home pay is usually less than you earn.
Your federal and state income tax payments are usually withheld from your […]
How Do You View Your Tax Refund?
Now that we’re getting into the tail end of tax season, it’s a good time to think about how you view your tax refund. The way you think of your tax refund can make a big difference in the way you spend it.
According to a recent survey from Capital One, only 12% of respondents think […]
Chicago Enacts “Cloud Tax” to Cover Streaming Services
As the Internet has grown in popularity over time, many consumers have found it a cost-effective way to shop and be entertained. In many cases, taxes that apply to other activities in daily life aren’t collected when that activity is completed through the medium of the Internet.
Over the years, many states and localities have made efforts […]