Who Can I Claim as a Dependent On My Income Taxes?
In the United States, a qualified dependent is an individual you get to claim on your federal income taxes. Each dependent can substantially reduce your taxable income – ultimately lowering your taxes. In 2016, the personal exemption will increase from $4,000 to $4,050. For a household of four (married couple with two qualifying minors), these…
Top 3 Ways Teens Make Great Money – with Teenpreneur Eva Baker
Eva Baker is a teen who encourages her peers to make money, spend wisely, and make plans for the future. She found the Top 3 ways a teen can make money: Starting a small business, Applying for scholarships and getting a part-time job
When You Can’t Pay The Tax Bill: Income Tax Collections and the IRS
What would you do if you receive a letter from the IRS stating you owe taxes? Andy Magnus, ex-IRS Agent and long-time CPA, says “If you receive a letter from the IRS stating you owe taxes and they are trying to collect, your first responsibility is to verify that you do actually owe. If you…
Debt Freedom Story by Jessica Garbarino
Jessica Garbarino found herself $56,000 in debt. While paying it off she lost her job – and her house to foreclosure! Renewed, she paid off all her debt
I have old 401(k)s. Should I cash them out?
Client asks: “I have old 401(k)s from previous jobs. Should I cash them out to pay off some bills?” Here are 4 situations to consider cashing out old 401(k) accounts