‘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
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
Are Medical Expenses Tax Deductible?
For information on the third coronavirus relief package, please visit our “American Rescue Plan: What Does it Mean for You and a Third Stimulus Check” blog post. Key Takeaways • In 2021, the IRS allows all taxpayers to deduct their qualified unreimbursed medical care expenses that exceed 7.5% of their adjusted gross income. Our TurboTax… Continue reading Are Medical Expenses Tax Deductible?
Tax deductions: 9 things you didn’t know about
1. Sales taxesYou have the option of deducting sales taxes or state income taxes off your federal income tax. In a state that doesn’t have its own income tax, this can be a big money saver. Even if you paid state taxes, the sales tax break might be a better deal if you made a… Continue reading Tax deductions: 9 things you didn’t know about
Bitcoin 2022 conference: Peter Thiel’s rant, Cathie Wood’s $1 million price target and a ‘laser eyes’ bull take spotlights at the annual crypto event
The Bitcoin 2022 conference in Miami heard from some of the leading voices in the investment community. Cathie Wood backed her view that bitcoin will go to $1 million, and Michael Saylor said Biden has given the “green light” to bitcoin. Peter Thiel took aim at Warren Buffett for his criticism of bitcoin. Loading Something… Continue reading Bitcoin 2022 conference: Peter Thiel’s rant, Cathie Wood’s $1 million price target and a ‘laser eyes’ bull take spotlights at the annual crypto event