Tag: Taxes

Taxes: Who could be exempt from paying income taxes?

Taxes: Who could be exempt from paying income taxes?

If you’re a veteran in South Carolina you may soon be exempt when it comes to paying your state income taxes. A recently passed bill allows all military retirement income to be exempt in South Carolina when filing income taxes. The House ... MORE
News, Taxes
Tax: What is franchise tax and who pays it?

Tax: What is a franchise tax and who pays it?

There various types of taxes and different people need to pay them. Franchise taxes are for specific businesses. Franchise taxes are paid by certain businesses in certain states. It lets a company be chartered and operate in that state. This means if ... MORE
News, Taxes
Tax: Seniors could see a $1,750 tax cut in 2023 in this state

Tax: Seniors could see a $1,750 tax cut in 2023 in this state

A tax cut package has been assembled by Maryland lawmakers, which could save senior citizens as much as $1,750 next year. Both Democrats and Republicans support the move. Thousands of seniors who are stuck with fixed incomes and rising inflation may finally ... MORE
News, Tax Break, Taxes
Social Security and taxes on benefits explained

Social Security and taxes on benefits explained

With tax season here, Americans who collect Social Security are wondering if they’ll need to pay taxes on their benefits, and how much. If you collect Social Security, it’s important to know what it is you may need to pay in taxes ... MORE
News, Social Security, Taxes
IRS: Things to keep in mind ahead of the 2022 tax deadline April 18

IRS: Things to keep in mind ahead of the 2022 tax deadline April 18

The IRS tax season is coming to a close with the deadline of April 18, 2022. Waiting to file could cause you to wait longer for your refund. 62 million tax returns have been processed so far. 45 million refunds have been ... MORE
IRS, News, Taxes
IRS, Child Tax Credit, Social Security finance updates for this week

IRS, Child Tax Credit, Social Security finance updates for this week

The American financial realm has a lot going on right now with tax deadlines from the IRS approaching and Social Security payments going out. Here, you can find answers to your pressing questions regarding things like Social Security and tax related questions ... MORE
Stimulus: Do I need to pay income taxes on my stimulus payments?

Stimulus: Do I need to pay income taxes on my stimulus payments?

The deadline to submit your taxes to the IRS is quickly approaching, and people are trying to figure out if they’ll owe due to stimulus cash. Millions of Americans received a stimulus payment this year worth $1,400. The question is whether you ... MORE
IRS, News, Stimulus, Taxes
Thousands of seniors don’t have to pay taxes on Social Security checks

Thousands of seniors don’t have to pay taxes on Social Security checks

Many low and middle income seniors won’t be taxed on their Social Security checks. This is due to a new legislation that has been signed into law. IRS: Tax refunds are smaller than some expected this year Where is this happening? Michelle ... MORE
News, Social Security, Taxes
Taxes: $7 billion in unclaimed taxes being sent back, is any yours?

Taxes: $7 billion in unclaimed taxes being sent back, is any yours?

There are millions of dollars in the state of Texas left unclaimed and needing to be sent to taxpayers. They’re unclaimed property taxes. The state is working hard to get these funds back into the hands of their rightful owners. $2 billion ... MORE
News, Taxes
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IRS: 2022 tax due dates and deadlines

Tax season for 2021 has already started, and the IRS has set a deadline for submitting returns for April 18, 2022. Normally the deadline is April 15, but a holiday has pushed it out three days. The average refund for Americans this ... MORE
IRS, News, Taxes
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IRS: Filing your taxes right the first time to avoid delays

This tax season will likely be as confusing as the last two, even though the IRS is working toward a more normal tax year. There are changes to tax laws this year which include rules surrounding stimulus payments as well as the ... MORE
IRS, News, Tax Return, Taxes
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Cryptocurrency: Can you pay taxes in cryptocurrency?

While you cannot yet pay your tax bill with cryptocurrency, there are some states pushing to allow it. Two of these states include Arizona and Wyoming. The federal government and various states are looking into regulating cryptocurrency. The market is getting more ... MORE
Cryptocurrency, IRS, News, Taxes
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IRS: 2022 tax bracket and deduction changes

Every year when people prepare for tax season, they’re usually made aware of changes. 2022 is not any different with changes from the IRS. 2021 saw major inflation rates, resulting in adjustments by the IRS. While these changes won’t necessarily impact this ... MORE
IRS, News, Taxes
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State taxes: Which 9 states have no income tax?

Tax bills can get expensive, and many families often look for ways to pay less in taxes. State income taxes are important to factor in. One way a family could manage this is by residing in a state that has no income ... MORE
Income Tax, News, State Tax, Taxes
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Cash App: Direct deposit and tax services available

Many people use Cash App to send money back and forth electronically, but that it can also be used by individuals to receive checks from the government. The appeal with choosing Cash App over a bank for things like getting paid or ... MORE