Filing income taxes is arguably one of the least fun parts of being an adult. Throw in a major life change – like a move, marriage, divorce, side hustle, or sickness – and the task of filing taxes can rise even higher on the aggravation scale. If you went through anything out of the ordinary last year, here’s a rundown of what to consider as you (or your tax professional) prepare to file.
Guide to Taxes
It’s a safe bet that no one wants to pay more in taxes than they have to. But often, what we don’t know can hurt us come tax time. Combining certain tax strategies with routine planning and other opportunities, such as charitable gifting, can help to maximize deductions. Here are some tax moves to keep in mind for every year, not just 2023.
Newsflash: Worrying about your taxes won’t make the annual process of gathering all of the necessary paperwork and filing on time any easier. What can actually help, though, is putting a simple plan in place now to make sure you are as prepared as possible for next year’s tax season.
To make the most of the services offered by the Federal Government and the State of Oregon, it is important to create accounts with the agencies that will best serve you. Let's take a closer look at each of these important government accounts.
Tax Returns from last year were due in mid-April. So now that you've filed your return, what are some ways to help improve your tax return and refund maximization strategy for next year? In this article, we've outlined several important ways to do exactly that! The tax laws can change over time, but millions of Americans expect to receive a sizable refund check soon after they file their tax returns for the year.
Recently, there were changes made to the child tax credit that will benefit many taxpayers. The IRS will pay half the credit in the form of advance monthly payments beginning July 15. Taxpayers will then claim the other half when they file their 2021 income tax return. Please remember to consult your tax advisor to see how these changes may impact your personal financial situation.
This month, we focus on preparing for taxes. The tax deadline (May 17th this year) is almost here, and you should have been receiving tax documents from your employers, financial institutions, and vendors. If you haven’t started yet, this is the perfect time to get organized, get going, and get your taxes filed. After all, if you have a refund coming, the sooner you get your refund in, the sooner you will see that money.
As you and your significant other plan for the big day and your life together, there is a lot to take into consideration. And as fun as planning your wedding may be, don’t forget about your taxes as well – just because you have hearts and flowers on your mind doesn’t mean that taxes will go into retreat!
Kids can be overwhelming when they are cooped up in the house during summer break, but they are also blessed tax-savers when you file your taxes.
While there are plenty of expenses that come along with owning a house, there are some tax benefits too. If you’re looking to get the most out of your home, here are five tax breaks for homeowners you want to stay on top and keep a record of.
While both tax deductions and tax credits can save you a significant amount of money on your taxes, they work in significantly different ways.
The contributions you make to your 401(k) plan can reduce your tax liability at the end of the year as well as your tax withholding each pay period. However, you don’t actually take a tax deduction on your income tax return for your 401(k) plan contributions.
Rivermark breaks down a few tips to get you off on the right tax foot and keep your business running smoothly throughout the year!
A boyfriend or girlfriend can be claimed as a dependent if they pass some of the same tests used to determine if your child or relative can be claimed as a dependent.
When you're a driver for a ride-sharing company such as Uber or Lyft, the most important thing to understand about your taxes is that you are probably not an employee of Uber or Lyft. Drivers for these companies are usually independent contractors, a fact that has tax implications, both at filing time and year-round.
Ah, good old summertime – what a wonderful relaxing time of the year. Unless you have kids, of course, in which case there’s a whirlwind of activity in your house as soon as school is out. But then comes the blessed time of summer camp, when peace is restored for at least a few days. Although camp can be expensive, keep in mind that some of those expenses may be tax deductible.
Whether you’re a seasoned business owner, newly self-employed or testing out a side-gig, TurboTax has you covered on tax tips, deductions, and tax forms for your business income. Rivermark Community Credit Union breaks down a few ins and outs.