5 Fast Tax Tips and Dates For 2016 Tax Filings in 2017

0 comments

With the 2016-2017 tax season in full flight, here are five key items you need to be aware of as you get ready to file your taxes: 1. Despite ongoing system and staffing issues, the IRS has committed to opening tax season on January 23rd, about a week earlier than last  year. The standard tax season […]

Read the full article →

2016 Tax Table For Figuring your Taxes Due in 2017

0 comments

Below is the official table from the IRS showing taxes due for those making $100,000 or less. It is based on filing status and assumes that you have your taxable income calculated (line 43 of your 1040 IRS tax filing). I recommend using the table below as a guideline to estimate your taxes due, but […]

Read the full article →

When Will I Get My Employer W2, Investments 1099, Mortgage 1098 and Other Tax Return Forms and Filing Documents for 2016 Tax Filing in 2017

2 comments

[Updated for 2016-2017 tax season] Before we file our tax returns there are a number of forms we need to receive from our employers, financial institutions and other entities we make money from, conducted financial transactions or did business with. Below are estimated time frames for when we can expect to receive some of these common income tax forms for the current […]

Read the full article →

Tax Refunds – Are They Worthwhile or a Free Loan to the IRS?

3 comments

Many believe that income tax refunds are not beneficial to anyone but the government. By allowing more money than necessary to be deducted from your paycheck in taxes each week, these investors state that you are essentially giving the government (via the IRS) an interest free loan. Today, we will discuss tax refunds, are they […]

Read the full article →

Filing Your 2016 Taxes in 2017 For Free – Online IRS Free File Options From TurboTax and H&R Block

0 comments

When it comes to filing your taxes, there are a lot of free options that allow eligible tax payers to avoid expensive filing fees. A number of leading tax software providers provide free e-filing options via the IRS’ free file program which provides free federal income tax preparation and electronic filing for eligible (generally lower […]

Read the full article →

When Does The 2017 Tax Season Start For Filing My Tax Return and Getting My Refund

0 comments

This time of year I get a lot of questions on when the IRS will allow people to file their taxes and when (if applicable) refunds will be paid.  For the 2016-2017 tax season the IRS e-File (online tax filing) system will open on Monday, January 23rd. You can technically submit as early as January 1st […]

Read the full article →

Are Vanguard and Fidelity Increasing Fund Fees?

1 comment

Vanguard and Fidelity are widely known for their low cost index and mutual funds. Their low expense fees/costs and broad array of funds have made them the fund manager of choice for many individuals, corporations and trusts. So its no surprise that they are the biggest of the fund managers and market makers out there. I […]

Read the full article →

Rebuild a Poor Credit Score Using a Credit Union Loan

0 comments

Credit Unions are a great way to get a loan and improve your credit score. Many people overlook this small gem, and continue to be declined for credit opportunities when using traditional banks and financial institutions. Do not allow your poor credit rating hinder you from improving your financial health. Credit Unions are small businesses, […]

Read the full article →

What’s Ahead for the US economy in the Next 4 years (2017 to 2020)

0 comments

What a whirlwind the United States Presidential Election was! It sparked record interest in the Presidential Debates and polls predicted the highest turnout rate of voters in the history of our Presidential Elections.  Trump was the third Presidential candidate in US history to win the election after losing the vote in his own home state […]

Read the full article →

2017 Tax Brackets, Standard Deduction and other Tax Updates

0 comments

The IRS has published the latest 2017 tax figures (for filing taxes in 2018) reflecting minor COLA updates to federal thresholds. You can see 2016 and past tax tables here. No changes to tax rates with 39.6% being the highest marginal tax rate. Tax bracket income thresholds increase marginally in line with inflation. The effect of this (bracket […]

Read the full article →