Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. or shortly known as retirement income is an IRS tax form that reports withdrawals made from a retirement account. Your withdrawals will be reported to the IRS when you’re retired. Because of this, you will be issued a Form 1099-R. This … Read more
The Internal Revenue Service offers plenty of tools to help with your taxes. Where’s My Refund tool allows taxpayers to see the current status of their tax refunds. After you file a tax return, you will know whether or not you will receive a tax refund or owe to the IRS. If you’re expecting a … Read more
Employers file Form W-2, Wage and Tax Statement at the end of the year. It reports wage, salary, and other compensation paid to employees along with the taxes withheld from their income. The employers will give this tax form to their employees so they can file their federal income tax returns. Since employees rely on … Read more
Tennessee has the 14th lowest property tax rate in the United States at 0.73%. This is the rate at the time of writing but new property tax rates for the Tennesse are in the talks. As of now, those who live in the Urban Services District which Nashville, Knoxville, Johnson City, and Memphis pay about … Read more
The Internal Revenue Service offers a wide variety of tools. These tools range from calculators to trackers to preparers. All of these tools can be found on the agency’s website and be used for free. One of the most commonly used tools is the Get My Payment. This tool allows you to track the status … Read more
When you’re beginning to use credit cards whether or not you’re a student or a worker, you will not have many options. Because you don’t have an established credit score, you will have a hard time getting credit cards. But this doesn’t have to be the case for everyone. Although you can pretty much get … Read more
The IRS began handing out the stimulus checks to those who qualify for one in April. If you haven’t received your stimulus check until this point, you ay want to check a few things. First and foremost, do you qualify for a stimulus payment? The stimulus payments are made to those who earn less than … Read more
The Best Credit Card for College Students The Best Credit Card for College Students can make life easier for students who need to pay their college tuition and fees. This article will compare the best credit cards for college students and highlight the best features of each. It also discusses whether foreign transaction fees are … Read more
Part A Often referred to as hospital insurance, Part A of Medicare is a program that pays for inpatient hospital and skilled nursing facility care. The program also covers hospice care and home health care. The Medicare Part A deductible is the amount you must pay before Medicare starts paying its share. The deductible is … Read more
California residents can claim the state standard deduction on their state income tax returns to reduce taxable income. Same as the federal income taxes, those who take the standard deduction cannot itemize. California’s standard deduction amount is different depending on the filing status. However, while the head of household gets a different amount in federal … Read more