College aid is a huge help for students to afford college. You probably need it to help them get a good standard of living while they are studying in higher education. But your IRA contributions for 2015 may ruin their ability to receive the funding they need. This article will explain why. The
IRS Audits Lower than Ever
The figures don’t lie. The number of IRS audits has fallen below 1% once again. This marks the lowest number since 2005, and it’s a cause for relief for those in all tax brackets. We’re going to take a closer look at what this means for you. Why Did it Happen? The main reason why audits fell to
Online Entrepreneurs Need to Get Sales Tax Compliant Before 2016 Arrives
The sales tax deadline is in January, so say goodbye to that relaxing start to 2016 you were dreaming of. Every online entrepreneur needs to get sales tax compliant before the deadline hits or they could face huge fines, which are more than capable of bringing down a small business. The Right State
Tax Changes Policy Makers Should Pursue in 2016
The tax system can be a confusing beast. That’s why we’ve put together some of the tax changes policy makers should be pursuing in 2016. Change the Inflation System Only half of our states tag their income tax brackets to inflation. This is damaging for everyone, especially those on low incomes.
You May Lose Your Passport if You Don’t Pay Your Taxes
The US government is making it harder than ever before to have outstanding tax debts. Under a new law, Americans could be forced to forfeit their passports, or have outstanding applications rejected, should they have bills to pay to Uncle Sam. The Current Tax System This actually isn’t a new
How Tax Rates & Brackets Will Change in 2016
It is essential that you know how the tax system is going to change ahead of time. This will help you plan so you can pay as little as possible. 2016 will see a number of alterations to the tax system, and we are going to look at some of the more important alterations below. Singles Single people
The Worst States for Paying Taxes in 2015
On average Americans, pay about $17,000 in taxes each year. While this may seem like a lot imagine if you had to pay more. Today we are discussing some of the worst states for paying taxes in 2015. Maine Maine ranks in #10 in the country when it comes to taxes. If you are able to move to New
Things You Need to Know About Filing Taxes in 2014
The 2014 tax season is going to be here before you know it. Therefore, today we are discussing essential things that you need to know about filing taxes in 2014. There are Different Ways to File Thanks to all of the technology advances, you no longer have to write out all of your tax information