Tag: taxes

Tax Questions, Answered: Education Expenses

Ed note: The experts at the Tax Institute have answered more of your questions, this time around which education expenses will qualify for tax credits or deductions. Question: I am currently enrolled in a multi-year practical program of study in electrical work. Can this be counted toward a four-year post-graduate program to receive the tax […]

6 Steps to Establishing a Post-College Budget

Ed note: You’ve probably gotten used to parts of adulthood – doing laundry, making it to class on time – but leaving college and taking on your first job makes it a great time to commit to managing your finances better. Leer en español. Congratulations on receiving your diploma and landing a job offer! This is […]

Health Care Q&A – College and the Advance Tax Credit

We continue our series on the Affordable Care Act and how it affects you. See all of our Health Care posts for more information.   I am in college. Do I qualify for the tax credit?                 Maybe. If you are claimed as a dependent by your parents […]

Buying a Home? What You Need To Know Before You Sign

Ed note: It’s time to buy your first house! It’s super easy to get completely distracted by square footage, and hardwoods and granite and two-car garages and so much more. After all those concerns fall away though, you are left with a sizeable monthly mortgage payment and a new item to discuss with your tax […]

Get Your Estate Plan in Order

Ed note: It’s pretty unpleasant to seriously contemplate your death, and I’m not talking about the existential questions. I mean, literally what is happening to your family, your investments and your debts after you are no longer here. Here’s a high-level look at what you need to be planning now. Leer en español. Do you have […]

Job Expense and Other Deductions for New (and Not-So-New) Graduates

Ed note: Finishing college might be one of life’s most bittersweet moments. No longer will you be just five minutes away from your few thousand closest friends. No more sharing meal plan points. No reason for all-night cramming sessions before a test. Ok, maybe that last one is good news. We also have more good […]

Options for Paying Back Taxes

Ed note: It’s completely reasonable to be a little scared if you owe money to the IRS and feel like you simply can’t pay. What’s scary is that the debt isn’t going anywhere. It’s much better to work out a payment plan to reduce what you will be charged in interest and penalties. There are […]

What Happens When You Owe the IRS

Ed note: It’s completely reasonable to be a little scared if you owe money to the IRS and feel like you simply can’t pay. In this two-part series, we look first at why it is important to face the tax bill instead of trying to pretend it doesn’t exist. Leer en español. Maybe you knew you […]

The 2014 Kentucky Derby: Inside the Numbers

Ed note: Betting on horse racing is its own breed (bad pun?). Brad Polizzano breaks down what you need to know before the Kentucky Derby tomorrow. And they’re off! Tomorrow marks the 140th running of the Kentucky Derby. Called “The Fastest Two Minutes in Sports,” the Derby is the first leg of the annual Triple […]

Tax Questions, Answered: Home Issues

Ed note: The experts at the Tax Institute have answered more of your questions, this time around home deductions and credits. A Non-Rental Rental? Question: After being unemployed for some time, I moved to another city where I work and rent an apartment. I kept my house.  My unemployed son lives there.  I continue pay […]