Passive income. It’s not an exaggeration to say it’s probably the best kind of income you can earn. Simply put, it’s income you earn with little or no effort on your part. And that means you’ll be free to earn even more money doing other things – or just enjoying your life. Jeff Rose is…
There are multiple varieties of individual retirement accounts or IRAs, for short. Two available versions are the SEP-IRA and the Roth IRA. So, what are they? And, can you choose to have one or the other? – or even both? In fact, a reader submitted this exact question: “I have a question about the SEP…
Once again, tax season is upon us. Now is the time to take a long, hard look at the best tax software programs, and there are plenty available, too. It’s mostly a matter of choosing the one that will work best based on your tax situation and, of course, your budget. We’ve come up with…
The best tax relief companies provide valuable services for consumers who find themselves in trouble with the Internal Revenue Service (IRS) or their state tax authority. These firms can help you figure out your best strategy moving forward, including which programs you qualify for to help reduce taxes and any penalties you owe. For the…
When cryptocurrency first hit the scene about a dozen years ago, it came with a few compelling qualities that made it attractive to at least a small number of people. First and foremost, it’s decentralized. It’s not issued by a bank or subject to the control of the central bank, the way fiat currencies like…
If you’re considering doing your own taxes this season, it’s important to remember that federal income tax can be quite complicated, so it’s essential to have a reliable guide to go by to ensure that your taxes are filed correctly. Any mistakes you make can subject you to hefty fines, and you could limit yourself…
Wondering what to do with your tax refund? The average U.S. tax refund is $2,903, according to IRS data, which is a significant boost to your savings or investments if used strategically. Once you understand the basics of income taxes and are sure your tax return is correct, you can move on to deciding how…
The federal income tax is one of the most complicated innovations in human history. However, we’re going to try and simplify the whole enchilada with this handy federal income tax guide. Use it as a reference to help you prepare your tax return. It’s a “high altitude look” at dozens of tax issues, just to…
It’s getting close to tax-filing season. It’s not everyone’s favorite holiday (unless you’re a nerdy accountant, maybe), but one thing’s for sure: being in business for yourself allows you a lot of tax write-offs that can save you money. Being in business for yourself allows you a lot of write-offs that can save you money.…
Having trouble paying your tax bill? Falling behind on taxes can be scary, but you have options to get caught up. One common, albeit last-resort option, is an “Offer in Compromise”. In the 2022 fiscal year, the IRS accepted 13,165 offers in compromise to settle existing tax liabilities for less than the full amount owed, amounting…
