Follow these detailed step-by-step instructions with clear explanation and many screenshots when you report your Backdoor Roth in TurboTax.
Stop Tax Return Fraud: Sign Up for the IRS IP PIN Program
The IRS opened the Identity Protection PIN program to everyone. Sign up to stop someone from filing a fraudulent tax return in your name.
2021 $300 Charity Deduction For Non-Itemizers $600 Married
Congress passed a new stimulus bill before the Christmas weekend. Although President Trump wanted to raise the second stimulus check from $600 per person to $2,000 per person, he still signed the bill into law. Unlike the previous stimulus law — the CARES Act — this new law doesn’t have a catchy name. The law […]
CARES Act Charity Donation Deduction: Ongoing or Only 2020?
CARES Act created a new above-the-line tax deduction for those who take the standard deduction. Is it ongoing or is it only for 2020?
CARES Act 2020 Charity Donation Deduction: $300 or $600 for Married?
The IRS Form 1040 instructions clarified the new CARES Act charitable contributions deduction for married filing jointly.
Relocate Out of California to Escape High Taxes After Retirement?
High taxes when you’re working doesn’t mean high taxes when you stop. California may very well be a retiree-friendly low-tax state.
Rollover a 529 Account From One Plan To Another
Rolling over a 529 account from one plan to another is very simple, but first find out whether your state will claw back previous state income tax benefits.
401(a) Plan Contribution Limit
A 401(a) plan allows additional contributions on top of 401(k), 403(b), and 457 plans.
Learn More About Taxes: Online Courses, Classroom, Books
Whichever learning style suits you, learning more about taxes will help you save money in the long run.
Paying Taxes On Your Own: Amount, Timing, and Mechanics
Paying estimated taxes based on previous year’s tax is the easiest. Estimate your income and taxes only when you have a large drop in income.
How To File EITC and Child Tax Credit For Free: TurboTax Edition
Stop paying $200 to file your taxes just to receive Earned Income Tax Credit and Child Tax Credit. Here’s how to do it for free with TurboTax.
Receive EITC, Contribute to Traditional 401k Not Roth 401k
If you receive EITC or the ACA subsidy, you should contribute to the Traditional 401k, not to the Roth 401k.