5 Tax Tips for Recently Divorced and Retired

‘Gray divorce’ is on the rise.  A ‘gray divorce’ refers to when couples over the age of 50 end their marriage. And while the divorce rate in some age groups has flattened in recent years; the numbers are grimmer for older couples.  There are some reports that say divorces over the age of 65 have tripled in… Continue reading 5 Tax Tips for Recently Divorced and Retired

The S&P 500 will plunge 11% by the end of 2022 as ‘inflation shock’ sparks a recession, Bank of America says

Stocks are in for a world of pain in 2022 as an inflation-induced recession causes a bear market.That’s according to Bank of America, which sees the S&P 500 falling below 4,000 later this year.”Hawkish Fed now wishes to address issues of wealth inequality & inflation… starts with overvalued stock market,” BofA said. Loading Something is… Continue reading The S&P 500 will plunge 11% by the end of 2022 as ‘inflation shock’ sparks a recession, Bank of America says

Cathie Wood sold 90% of her Twitter stock this year. Then Elon Musk sent the shares soaring — and her stake would be worth $700 million if she’d held onto it.

Cathie Wood’s ARK Invest has sold around 90% of its holdings in Twitter since the start of the year. So it missed out on the huge rally after Tesla boss Elon Musk revealed a majority stake in Twitter this week. Wood’s stake in Twitter would now be worth $700 million if she had held onto… Continue reading Cathie Wood sold 90% of her Twitter stock this year. Then Elon Musk sent the shares soaring — and her stake would be worth $700 million if she’d held onto it.

Multiple States—Figuring What’s Owed When You Live and Work in More Than One State

How do I know how much I owe in each state?Residents pay tax on all of the income (from all sources) they received during the calendar year. Residents get a tax credit for taxes paid to any other states. Our TurboTax Live experts look out for you. Expert help your way: get help as you… Continue reading Multiple States—Figuring What’s Owed When You Live and Work in More Than One State

What Happens If I Don’t File Taxes?

Key Takeaways • Not everyone needs to file a tax return each year as several factors come into play when determining your filing requirements. • Generally, if you earn less than the standard deduction for your applicable filing status, you don’t need to file unless you have special tax circumstances. • Not filing a return… Continue reading What Happens If I Don’t File Taxes?

How Changes in Your Life Can Save You Money

Whether you got married last year or purchased your first home, changes experienced in your life can bring about many questions and uncertainties. Although you may have questions about how life events affect your finances, one thing is certain, your (what might seem crazy) ever-changing life can save you money on your taxes. Our TurboTax… Continue reading How Changes in Your Life Can Save You Money