TaxTip

Pointers, prep tips and analysis from the experts who do this every day.

freelance
Jun 5th, 2015

Paying Taxes All Year Long

Most Americans think about taxes once a year – sometime between the end of January and April 15. For those people, every time a paycheck comes, taxes are paid too. They are automatically deducted before the money hits the bank account. An annual tax return reconciles the amount of taxes paid throughout the year with […]

Audit
May 28th, 2015

What can happen after you file – or don’t file?

Ed note: Getting a letter from the IRS after you file a tax return can be terrifying. It’s also not that uncommon. Learn more about the typical reasons you might hear from the IRS and how to go about handling it. Most people only think about taxes sometime between January and April, when they file […]

dependent
May 22nd, 2015

College Graduate: Are you still a dependent?

Ed note: Over and over again, we hear from clients who are confused about dependency. This is particularly true for recent graduates who may be wondering whether they should claim a personal exemption or whether their parents can still file with them as a dependent. Here’s some help to clear that up. Leer en español. So you’ve just […]

college
May 15th, 2015

What If Someone Else Pays Off Your Student Loans?

Ed note: Congratulations on your graduation! I bet you are really excited to start paying down those student loans. No? Well, let’s daydream for a minute that the loans are magically paid off. It happens! But there may be tax consequences. There are a few situations in which someone else may pay your student loans […]

budget
May 13th, 2015

Understanding College Financing and Student Loan Debt

Ed note: If you (or your child) are headed off to college in the fall, you may be working furiously to determine how it will be financed. There are tons of options: scholarships, grants, many different loans and more. How can you decide what amount to borrow? Here are some helpful tips. Leer en Español. […]

career
May 12th, 2015

Why Your Child Might Not Need a Four-Year Degree

Ed note: We know that – on average – amount of education correlates to income. As in: more education, more money. BUT, that only looks at the averages. What does it really mean for certain professions? Miranda Marquit digs into why some might actually do better by forgoing a traditional degree program.  For decades, the […]