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New tax rules may mean bigger refund for young workers and retirees with side jobs The woman had Social Security benefits, a tiny pension that amounted to less than $1,000 for all of 2021, and she earned around $2,500 working as seasonal help at a local store. “She wanted to make sure her friends and family […]
Why and how to set up a blog on an ecommerce site Why do so many ecommerce sites have a blog? Is that because online shop owners love to write posts? Or do they have a lot of spare time on their hands? Probably not. Although blogging is a lot of fun, it is also […]
How long will my tax refund take? More than 90 percent of tax refunds are issued by the IRS in less than 21 days, according to the IRS. However, the exact timing of receiving your refund depends on a range of factors, and in some cases, the process may take longer. If you’re owed a […]
Labor Department offers unemployment recovery guidance Tens of millions of Americans were laid off in the early waves of COVID and got emergency pandemic jobless benefits authorized by Congress. But the state systems that administer unemployment insurance were outdated and overwhelmed, and in the scramble, some who were eligible were denied benefits. Others got approved for benefits […]
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 […]
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 […]
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 […]
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 […]