Individuals can face some unique tax issues as they get older and enter retirement. One of these special issues comes from the fact that many individuals have tax-deferred retirement savings accounts, such as 401(k)s and IRAs, as part of their retirement savings portfolio.
Many new ways have arisen for people to make money outside of traditional employment. Among these ways are through providing services or goods through on-demand platforms. Examples of such platforms include Lyft, Uber, Airbnb and Etsy.
Raising kids is not a cheap thing. So, any form of financial relief when it comes to child-related costs can be welcome for a parent. One form of relief a parent may have access to are tax benefits, such as the Child and Dependent Care Credit.
About a month ago, we wrote a post about tax liens and tax levies and how devastating these things can be. Today, we're going to focus on the former and talk about how you can avoid a tax lien with effective communication with the IRS.
Deadlines are a big part of tax law here in America. The laws and rules regarding federal taxes are full of them. One of the very well-known such deadlines is the federal tax filing deadline that taxpayers are subject to.