Military Taxes: Family/Spouse Issues
Military families must contend with moving and child care issues -- and both of these issues can be very expensive. However, Permanent Change of Station (PCS) and the Child Tax Credits can help ea... more.
Taxes Archive
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4 Scams to Avoid This Tax Season
As April 15 approaches, clever crooks use the IRS to try and separate you from your hard-earned money. Like most people, you probably have a healthy respect for the taxman. But don't let that intimidation factor override your common sense. Be on the alert for these four common tax scams. 1. Phishing Using the Refund Lure The most common scammer tactics are variations on the tried-and-true phishing trick that uses a phony email to solicit yo... more
5 Ways to Spend Your Income Tax Refund
Are you part of the American tax-filing majority who's about to get a big, fat tax refund? If so, I have a question: What are you going to buy yourself with it? What? A CERTIFIED FINANCIAL PLANNER™ is asking how you plan to spend your tax refund instead of telling you to pay off debt with it, save it or invest it? And he's not saying it's a financial mistake to get a refund in the first place? That you should change your withholding so you ke... more
Strategies to Tame the Tax Beast
Two new federal laws promise to have an effect on your income tax bill in 2013 and beyond. Health care reform and the "fiscal cliff" resolution mean new and higher taxes on the wealthiest Americans, extended tax relief for others, but higher payroll taxes for all wage earners. To help understand how these laws may affect you, here are five hypothetical scenarios to illustrate how you could more effectively direct money and manage taxes. The ... more
13 Deductions That Could Cut Your Tax Bill
For all the talk about tax changes at the end of 2012, many people are still left wondering what it means for them. "'Is it a big deal? Or is it business as usual?' are questions I'm hearing," says Scott Halliwell, CERTIFIED FINANCIAL PLANNER™ practitioner with USAA. "While many issues were resolved, a lot of taxpayers still aren't sure how their tax returns and deductions are affected," he says. If you're one of those people, brush up ... more
The Case Against a Federal Income Tax Refund
Millions of Americans celebrate receiving an income tax refund each year. Many of these same people live each month under the burden of financial hardship, struggling to make ends meet, often falling behind on living expenses and debt obligations. The February poll hosted on the National Foundation for Credit Counseling (NFCC) website revealed that a significant majority of respondents, 58 percent, intentionally plan to always receive an inc... more
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Popular Articles in Taxes
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5 Ways Fiscal Cliff Deal Affects Your Taxes
At the last possible moment, Congress finally approved a deal to avoid the so-called fiscal cliff that was threatening to enact automatic cuts to government programs and tax increases on American... more.
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Money for Some Military Spouses
Military spouses in states that collect state income taxes may be able to pocket a little more of their paycheck under an amendment that allows spouses to retain their legal residency in their home... more.
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Tax Credits for Child Care
If you paid someone to care for your child, spouse, or dependent last year, you may qualify to claim the Child and Dependent Care Credit when you file your federal income tax return. Below are 10 t... more.
Vets
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Back-to-School Tax Benefits
Summer is officially over, further signifying that it's that time of year again; back to school time! Many members of the Armed Forces have already started to crack the books in pursuit of advanced... more.
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5 Ways Fiscal Cliff Deal Affects Your Taxes
At the last possible moment, Congress finally approved a deal to avoid the so-called fiscal cliff that was threatening to enact automatic cuts to government programs and tax increases on American... more.
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2013 Tax Changes: Should You Be Worried?
Here's a look at the laws that could wage a multipronged attack on your wallet and what you can do to prepare. Over the last few years, Americans have observed a series of tense Capitol Hill confr... more.
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13 Tax Deductions You Can't Ignore
This content is provided courtesy of USAA. Before tackling your tax return, brush up on this baker's dozen of deductions that could cut your tax bill. 1. Traditional IRA contributions. You ha... more.
Servicemembers
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Tax Information for U.S. Servicemembers
The tax laws provide some special benefits for active members of the U.S. Armed Forces, including those serving in combat zones. For federal tax purposes, the U.S. Armed Forces includes officers a... more.
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Top Tax Tips for Military Personnel
With the start to the new year behind us, it is time to once again plan ahead for tax season. With the exception of those serving in combat zones or stationed outside the U.S, most military personn... more.
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Tax Tips for Two-State Residents
Let's face it -- the American tax system isn't known for its simplicity. And the confusion factor just climbs higher when you lived or worked in more than one state during the year. To help out, ... more.
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Programs Give Tax Breaks to Servicemembers in School
Editor's Note: This article has been updated to reflect current programs and tax laws. Military service men and women, who recently enrolled in continuing education programs or signed up for skill... more.
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