Private student loans typically remain on your credit report for seven years after the date of default or last payment. This means that if you’ve missed payments or defaulted on a private loan, the negative mark will stay on your credit report for seven years, impacting your credit score. However, if you’ve paid off the … Read more
If you’re on the lookout for a banking deal that feels like free money, you’ve probably stumbled upon the Bank of America open bonus. Whether you’re switching banks, opening your first account, or just trying to earn a little extra with your everyday banking, the Bank of America new account bonus might be your golden … Read more
Paying off your federal student loans is a huge milestone, but don’t celebrate just yet—there’s still one last step: receiving your official loan payoff confirmation letter. So, how long after paying off your federal loans do you get a letter? The exact timeline varies, but in most cases, it takes 30 to 60 days after … Read more
The dependent allowance for G-4 in Georgia is a key component of the state’s income tax withholding system, allowing employees to reduce the amount of tax withheld from their wages based on the number of dependents they claim. As of 2024, each dependent allowance is valued at $4,000 and is calculated using Georgia’s Employee’s Withholding … Read more
When selling a property, understanding how property taxes and capital gains interact is crucial for managing your tax liability. Many homeowners and investors ask, “Can you deduct property taxes from capital gains?” The short answer is no—property taxes are not directly deductible from your capital gains. However, they can still play a role in reducing … Read more
When tax season rolls around, many people start looking for creative ways to maximize their deductions, and one question that often pops up is: Is dry cleaning tax deductible? The answer isn’t as straightforward as you might think. While personal dry cleaning expenses are not deductible, there are specific circumstances where they could qualify—such as … Read more
When managing business expenses, many entrepreneurs, freelancers, and small business owners look for ways to reduce their taxable income. One common question is, “Can you deduct credit card interest for business?” The short answer is yes, but only if the credit card interest is tied to business expenses. While credit card interest can be a … Read more
If you’re wondering how to pay your taxes as a consultant, it’s important to understand that independent consultants are considered self-employed for tax purposes. This means you are responsible for managing your own tax obligations, including federal income tax, state income tax (if applicable), and self-employment tax, which covers Social Security and Medicare contributions. Unlike … Read more
The difference between gross and net income is a fundamental concept in personal finance and business accounting, yet it is often misunderstood. Gross income refers to the total earnings or revenue generated before any deductions, such as taxes, benefits, or operating expenses, are applied. On the other hand, net income represents the actual amount you … Read more
When it comes to navigating the complexities of Oregon’s tax system, two significant provisions stand out: the “Oregon credit for taxes paid to another state” and the “Oregon Kicker” tax credit. The Oregon Kicker is a unique tax refund mechanism that returns surplus state revenue to taxpayers when actual income exceeds projections by more than … Read more