The Internal Revenue Service and tax preparation services have an agreement where if you make a certain amount and there are certain things on your tax return, you get to file your return for free. The income limits, at least on an adjusted gross income perspective, make which tax preparation service you can file taxes … Read more
Itemized deductions are a valuable way to reduce your taxable income. They are available for specific items, such as medical expenses, casualty and theft loss, and alternative minimum tax. Medical expenses If you want to reduce your taxes in , consider itemized deductions for medical expenses. However, before you can deduct these expenses, you must … Read more
One of the most important and overlooked parts of Free Application for Federal Student Aid is the expected family contribution. Depending on the financial statements provided on the student and parent’s FAFSA, the Department of Education will come up with an expected family contribution amount. This amount represents how much the family is expected to … Read more
Fidelity has different options when it comes to creating portfolios for yourself. A 3 fund portfolio is a preferred pick among investors. There are different strategies used by thousands of investors. You can pick the one that suits your interests and what you invest in the most. There are different options with a 3-fund portfolio. … Read more
Form 1099-G, Certain Government Payments is the information return you’ll get from governments whether federal, state, or local. If you’re living in Rhode Island (RI) and received payment from the state government such as unemployment compensation, you’ll get the 1099-G reporting this income. As for what to do with it, you’ll need to attach it … Read more
Form DH 680 is the Florida Certification of Immunization, used for documenting receipt of immunization given to schools, daycare homes, and childcare facilities. Also known as a vaccination record, DH 680 is required for many schools and childcare facilities. Schools and healthcare providers have access to Florida State Health Online Tracking System (SHOTS). This is … Read more
There are several taxes you pay as an employee before you get your income in hand. There are multiple payroll taxes. You will pay at least three different taxes when your employer processes payroll and depending on where you live/work, you might pay two additional taxes. In this article, we will go over the taxes … Read more
Form 990-PF, Return of Private Foundation, as the name suggests, is the tax return of private foundations. Like individuals file Form 1040 to report everything to the Internal Revenue Service, US private foundations need to enter the information asked to fulfill tax obligations. On the 990-DF, a private foundation that is located in the United … Read more
A commodity is an economic good that has substantial or full fungibility that the market treats instances of the good as equivalent with no regard to who produced it. There are different commodities in the world and some have a higher volume than others. The highest volume commodities make up a large portion of the … Read more
The Internal Revenue Service wants every taxpayer to report earned and unearned income on their federal income tax returns. These are mostly done with the information returns that other people furnish the respectful recipients. One of the most relevant tax forms to those who are retired is 1099-R. Whether the taxes are withheld from their … Read more