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This is Your Reminder to Do an Annual Subscriptions Audit Checking all your regular expenses is an important part of keeping your finances healthy. Too often, people sign up for a monthly subscription for a gym membership, subscription box, or premium membership and then stop using it. Without regularly keeping track of what you’re spending […]
23 Better Money Habits You Need to Start Doing in 2022 Working on your finances can be a long process, but taking it one step at a time and developing better money habits can help you get ahold of your finances and start building a better future for yourself. If you struggle with setting money […]
How to Negotiate Medical Bills If you don’t know the drill yourself, you’ve probably seen a loved one experience it: Weeks after a medical procedure, you’re blindsided with a bill much higher than anything you were anticipating. Sometimes this is due to a procedure not being covered by your insurance plan, and other times it’s […]
Medical and Dental Expenses Deduction What is the medical and dental expenses deduction? This deduction allows you to deduct a percentage of your qualified medical and dental expenses. Qualified medical and dental expenses include the cost of diagnosis or treatment to cure, improve or prevent a physical or mental illness or defect. They include costs […]
Best Smart Thermostat 2022 If you are for the best smart thermostat in the market, then you can never go wrong with this ecobee. It’s a top-rated product on amazon that comes with loaded features like Alexa support, a touch display, a remote room sensor, and interoperability with many other smart home devices. Ecobee EB-STATE3LTVP-01 […]
Other Deductible Expenses Deduction What are other deductible expenses? Some types of expenses, which are listed below, fall into a category known as other deductible expenses. That means you’ll be entering these expenses in the Other Deductible Expenses area of Deductions and Credits, rather than in the Charitable Contributions or Casualties and Thefts topics. Don’t […]
Five crypto tax strategies Starting this year, the IRS requires taxpayers to indicate if they made any virtual currency transactions during the tax year. Virtual currency includes any type of cryptocurrency. A transaction involving virtual currency includes any of the following: – Receipt or transfer of virtual currency for free – An exchange of virtual […]
What’s new with the Child Tax Credit? Child Tax Credit In 2021, The American Rescue Plan expanded the Child Tax Credit—here are the details: The amount for kids under 6 went from $2,000 to $3,600.The amount for kids ages 6-16 went from $2,000 to $3,000.17-year-olds were previously past the cut-off, but are now eligible for […]
Child’s Income What is Child’s Income? If your child is younger than age 19 or a full-time student age 19-23, he or she must file a tax return for 2021 if he or she had any of the following: Unearned income (interest, dividends, capital gains, taxable scholarships, unemployment compensation) of more than $1,100. Earned income […]
Low-income Americans eligible for tax refund boost this year Millions of low-income Americans are eligible for a one-time tax break this year that could save them big bucks. The federal Earned Income Tax Credit, which is aimed at people in the lowest-paid jobs, is being tripled for a group of workers who typically don’t benefit […]