Did you know anyone paid for babysitting has to report that income to the IRS? Or let’s say you and a neighbor want to trade cars, you’ll still have to pay taxes on what the fair market value of the car you bartered. But not all income is taxable. Here are some examples of income […]
College tuition is rising. In fact, it has risen in costs 500% since 1985! It is outpacing inflation by 121%. Not only is it outpacing inflation but it has eclipsed rising healthcare costs by 286%! Yikes! The average student goes in debt for about $20,000 and 8% of students have a loan of $40,000 or […]
Looking for a new job isn’t actually ‘taxing’ after all. Did you know that you can deduct costs related to your job when you file? All the things like paying for LinkedIn Premium, hiring a recruiter and good ol’ printing and mailing resumes can add up.
If you are starting a new business it’s important you start out on the right foot with the IRS. You’ll want to make sure you correctly identify how you will classify your business for tax purposes. Not correctly choosing the right one can leave you vulnerable to tax penalties and liable for damages caused by […]
If you take more than you make, you may have find yourself with more debt than you know what to do with. Don’t feel bad. It happens easily and can sneak up on you. There are so many things to pay for: car repairs, food (especially growing costs if you have a family), mortgage, utilities, […]
When you don’t budget for reality, 1 of 2 things will happen: you’ll come up short on paying for everything you’ve budgeted or you’ll absorb the unexpected expense in the form of debt. Neither is good (credit cards are a dangerous form of planning for emergencies).
Deal with it now! If you’ve received a notice or letter from the IRS, it’s best to deal with it right away. The more letters they send out the harder they are to deal with.