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Taxes Basics

Taxes

How Much Money Do You Have To Make To File Taxes?

Every single year without fail, tax time returns. If you’re already a seasoned tax veteran, then don’t worry. This article probably isn’t for you. However, if you are young and just started your first job or barely made any money last year, you might be wondering “how much money do you have to make to […]

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4 minute read

Taxes

TaxAct vs TurboTax: Which One Is Better?

With as much as our lives have changed over the last year, it can be difficult to remember major obligations. But driver’s licenses need to be renewed, you could receive a summons for jury duty, and tax season still comes around. This can be a stressful time, and most earners may turn to tax prep […]

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3 minute read

2021 Tax Year Changes Taxes

Important Tax Changes You Need to Know About For 2021

Spring signals many things. It might mean (re)committing to those New Year’s resolutions, enjoying the warming weather and signs of new beginnings in nature, or some much-needed spring cleaning. Spring is always a season represented by the classic saying “out with the old, in with the new.” And then, of course, there’s the much-dreaded tax […]

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6 minute read

Latest News

Taxes

What Are The New 2021 Tax Brackets?

Each year, the Internal Revenue Service (IRS) updates their marginal income tax rates. In other words, they issue new tax brackets for the year ahead to reflect the ongoing impact of inflation. For 2021, there are seven income tax brackets in the United States: 10%, 12%, 22%, 24%, 32%, 35% and 37%. These will be […]

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6 minute read

Taxes

Payroll Tax Deferment Guide: Everything You Need to Know

On March 11, 2021, President Biden signed the American Rescue Plan Act into law. It’s a $1.9 trillion bill that extends many forms of federal assistance for businesses impacted by the Covid-19 pandemic. Two of the provisions found in the ARPT are the employee retention credit and the employer payroll tax deferral. These provisions are […]

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3 minute read

Taxes

Reasons Why Your Tax Refund is Delayed

The Internal Revenue Service is currently swamped. Despite that admission, you might still be anxiously waiting for your expected tax refund. The IRS says they have already processed more than 91 million individual returns from 2020. Additionally, more than 68 million refunds have already been issued to taxpayers. However, the agency is still holding more […]

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9 minute read

quarterly tax payments Taxes

Do You Need to File Quarterly Tax Payments?

Whenever you get a new job, you’re required to fill out a W4 form. Your answers will help your new employer figure out how much tax to withhold from your paycheck. They will send that money to the IRS on your behalf. In most cases, these withholdings will cover your tax liabilities. Especially once you […]

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5 minute read

tax liability Taxes

What is Tax Liability and How Is It Calculated?

You’ve probably heard the phrase before and wondered “what is tax liability?” Simply put, a tax liability is the total amount of tax owed by a person or company to the government. In short, it’s the amount of money owed to the “taxman.” Tax is owed for a lot of different reasons. It’s most commonly […]

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5 minute read

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