Today’s top AI firms may not be the best long-term investments, advisor says
Early leaders in artificial intelligence may not be the biggest beneficiaries of the technology.
Read MoreAuthor: theonlinetaxguy
Biden is still trying to forgive student debt in ‘a very direct confrontation’ with Supreme Court, expert says
President Joe Biden is still trying to forgive student debt after the Supreme Court ruled that his first attempt to do so was not legal.
Read MoreBiden is still trying to forgive student debt in ‘a very direct confrontation’ with Supreme Court, expert says
President Joe Biden is still trying to forgive student debt after the Supreme Court ruled that his first attempt to do so was not legal.
Read MoreAmid a return-to-office push, it’s still possible for workers to get flexible schedules. ‘Think about it like a salary negotiation,’ expert says
As companies strive to get workers back to the office, that doesn’t have to mean the end of Covid-era flexibility, experts say. These negotiation tips can help.
Read MoreThe new FAFSA: Changes to college financial aid application are ‘tectonic,’ says expert
A new federal financial aid formula is rolling out in December. Among other changes, eligibility is expanding but the sibling discount is going away.
Read MoreThe new FAFSA: Changes to college financial aid application are ‘tectonic,’ says expert
A new federal financial aid formula is rolling out in December. Among other changes, eligibility is expanding but the sibling discount is going away.
Read MoreWhy it’s hard to find an inexpensive new car these days — just one model has an average price below $20,000
While there was just one car model with the average price below $20,000 in July, automakers are responding to consumers’ preferences towards features.
Read MoreIRS delays change for 401(k) catch-up contributions. Here’s what higher earners need to know
The IRS has delayed the “Secure 2.0” change for 401(k) catch-up contributions. Here’s what higher earners need to know.
Read MoreIt should be easier now for student borrowers to apply for public service loan forgiveness. Here’s why
The U.S. Department of Education announced that the PSLF application can now be done completely online, including the required signatures by employers.
Read More5 End of Summer Planning Tips to Help You Save at Tax Time
We all like the idea of saving money come tax time but tax tips seem to only come at the end of the year. We’re going to change it up a little and provide a five tips you can do right now that should make life easier come tax time. The post 5 End of
Read MoreAre Credit Card Rewards Taxable Income?
Perhaps you took advantage of those enticing credit card offers that include cash back rewards that showed up in the mail, or maybe you are considering taking them but don’t know if the rewards have to be included in your taxable income. For the most part, the IRS treats credit card cash rewards as discounts
Read MoreIRS Announces Tax Relief for Hawaii Wildfire Victims
The victims of the devastating wildfires in Hawaii are being offered tax relief from the IRS. If these fires — which began on August 8 — impacted you, we want you to know TurboTax is here for you, and we want to keep you up to date with significant tax relief information that may help
Read MoreTax Write-Offs for Athletes
If you are a professional athlete, you spend a great deal of time honing your technical skills and keeping your body in tip-top shape so you can win in the sport that you play. It’s imperative that you focus on the finances as well and don’t fumble the ball when it comes to tax deductions.
Read MoreAre You a PTA Parent? That Volunteering May Just Pay Off
By volunteering – including the local school or PTA – you may have some surprise tax benefits waiting for you when you file your income tax return. The IRS allows you to deduct certain expenses incurred in connection with volunteer work. Below are several important deductions that you may be entitled to take when you
Read MoreReal Talk: How Does Receiving Alimony Affect My Taxes?
We all know life can be complicated, and while taxes often touch upon the most joyful moments in life, many of our toughest times have tax implications as well. “Real Talk” is a series that answers the tax questions that you may find harder to ask. TurboTax is here for you during your life changes.
Read MoreWhat Are the Standard Mileage Rates?
Calling all commuters! The IRS announced the 2023 “standard mileage rates.” Whenever you drive for business, medical reasons, or in support of a charitable organization, you may be able to get a mileage deduction and save money on your taxes. The standard mileage rates for the use of a car (also vans, pickups or panel
Read MoreDid You Owe Taxes in Two States This Season? We Explain Why
For the longest time, I thought I only had to pay taxes based on where I lived. If I spent the whole year in Maryland, I’d only owe Maryland taxes, right? Wrong. If you thought the same thing, you aren’t alone. It’s a common misconception, but we’re going to explain why you might owe state
Read MoreWhat Is Supplemental Income?
Are you in line for a bonus at work? Lucky you! But don’t count on the entire bonus amount appearing in your paycheck. We all know that federal taxes will be taken out for part of your bonus, and your state may want some as well. The same is true of other supplemental wages you
Read MoreWhat is the Form 1099-NEC?
If you are self-employed, a freelancer, contractor, or work a side gig, you may be used to receiving Form 1099-MISC that reports your self-employed income at tax time. Beginning with tax year 2020, the IRS will require your self-employment income of $600 or more to be reported on Form 1099-NEC (non-employee compensation) instead of Form
Read MoreIRS Tips On Employee Retention Credit Refunds, ERC Audits & Fraud
You might get your refund, but get audited and be asked to repay the money, including interest and penalties. Even if you relied on advisers, you are on the hook.
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