Tax Nitty Gritty

Affordable Care Act
Sep 25th, 2014

10 Ways Getting Married Affects Your Taxes – UPDATED

Ed note: One of our most popular posts ever detailed 10 important tax changes that may affect you after getting married. We’ve updated most of those and included one brand new change that you need to know about before filing that 2014 tax return. Leer en español. 1. Filing status. Once you get married, the only […]

IRS
Sep 5th, 2014

Social Security Benefits – How Much Is Taxable?

Ed note: It’s one of the most frequently asked questions on our social media channels – “Are my social security benefits taxable?” Like so many things with taxes, the answer is a variation of “it depends.” Leer en español. All social security benefits, whether in the form of retirement benefits, survivor benefits or disability benefits, […]

family
Sep 1st, 2014

Tax Questions, Answered: The Tax Implications of Selling Your Home

Ed note: Congratulations, you just sold your home! That profit burning a hole in your pocket may be free-and-clear from taxes, but – yes, there’s a but – not always. The Tax Institute looks at some of the exceptions you need to know about. Question: I’ve been waiting years to sell my home. Now that […]

education
Aug 28th, 2014

Tax Questions, Answered: Your Kid’s Education

In our latest installation of this question-and-answer series with The Tax Institute, we look at some of common tax questions that come up around saving and paying for your child’s education. Q: Should the earnings on my child’s 529 account be counted as income as they accrue? What about when I use 529 funds to […]

college
Aug 26th, 2014

Federal Student Aid – What are the Tax Consequences?

Ed note: There are a lot of benefits to higher education – increased earning potential, expanded knowledge and even tax perks. However, there are also a few tricky situations to keep in mind when you are financing that education. Leer en español. College is expensive.  Did you know that taxpayers with college expenses might be […]

home office
Aug 14th, 2014

What You Need to Know to Claim Home Office Deductions

Ed note: It turns out there are different kinds of home offices. There are those, like mine, that double as a place to binge-watch your favorite Netflix series, and those that are actually a tax deduction in the eyes of the IRS. Leer en español. One the greatest perks to running your own business is […]