After you file your tax return, you may wonder what you should do with your pile of tax records and financial documents. First, don’t get ahead of yourself and trash them. When in doubt, keeping a document is always the safe option. The IRS sets specific standards for record keeping that you can follow. How long should I […]
Now that tax season is over, you can finally address the pile of tax records and financial documents cluttering your desk, bookshelf or kitchen table. Don’t get too excited and toss them in the trash can. It’s important to save copies of your tax returns and documents used to prepare them. For how long? We’re […]
Some natural disasters are more common in the summer. But major events like hurricanes, tornadoes and fires can strike any time. It’s a good idea to plan for what to do in case of a disaster. You can help make your recovery easier by keeping your tax and financial records safe. Here are some basic steps you can take now to prepare.
Are you getting ready to file your own taxes for the first time? Good news! Completing a tax return is simpler than you think. Here are some basic facts to get you started. Essential tax terms Withholding – A withholding is a certain amount of money that is taken out of your paycheck each […]
Taxes can be challenging for different reasons, and some people could use a little extra help. You might file a tax return for someone else if you have: A dependent with earned income A deceased family member Aging parents A friend or relative who doesn’t speak English You can legally file a tax return for someone else The IRS […]
Many Americans find that working for themselves provides the flexibility and extra income that can be hard to find in a traditional job. Words like side gig, side hustle, freelance, independent contracting, and small business owner might describe what you do, but is it the same as being self-employed? Here’s how you can tell. You could […]
The damage done by a natural disaster like a hurricane can be devasting. The official hurricane season runs from June to November every year, so it’s important to prepare if you live in an area where they are common. The good news is you might be able to write off some of the damage caused […]
People everywhere are renting their homes or spare rooms on sites like Airbnb for extra cash. TaxSlayer has the answers to the most frequently asked tax questions from short-term renters.
When you work for someone else, they are responsible for withholding a specific amount of income from each paycheck for taxes. But when you’re self-employed, you’re responsible for your withholdings. That is why it is essential to calculate the amount you owe on the income you’re earning. Then you can either set it aside or […]
When you file your tax return, you should feel confident that your information is safe and that you’re getting your maximum refund. Paper filing simply can’t compare to the ease and security of filing online – and most Americans agree. In fact, the IRS estimates that more than 1 billion Form 1040 series tax returns […]