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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.
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.
Rivermark breaks down a few tips to get you off on the right tax foot and keep your business running smoothly throughout the year!
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.
While both tax deductions and tax credits can save you a significant amount of money on your taxes, they work in significantly different ways.
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.
Looking to add some power to your family finances? The equity in your home could be the answer. Opening an equity line of credit gives you an instant emergency fund as well as access to money for remodels, family vacations, college educations, and any other expenses that could otherwise break your budget. Here are a few ways to put your equity to good use in the new year.