Category: Do Your Own Taxes

3 Reasons Our Estimated Tax System Is Stupid

I just sent out reminders to my clients that estimated tax payments are due again. And I got back a lot of panicky emails and requests for help. This is despite the fact that they’ve been making their estimated payments all year round, often with an assist from me. But it still makes them anxious...

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Make Your Life Easier with an IRS Online Tax Account

You may think you don't want an IRS online tax account... but you definitely do. The IRS is seriously messed up right now – worse than I’ve ever seen. They’re hard to reach. Many agents aren’t helpful… and some are downright nasty. So having an Online Tax Account will make your life easier... especially at...

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What's the Difference Between Traditional IRA and Roth IRAs?

If you're trying to save money for retirement, you're probably familiar with IRAs - individual retirement accounts. IRAs come in two flavors: traditional and Roth.  Both can help you save for retirement, but there are some crucial differences between traditional IRAs and Roth IRAs. We'll get into the details of their differences and similarities below....

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The Home Office Deduction Can Bring Big Tax Savings

If you have your own business and work from home, taking the home office deduction can lead to big tax savings. But millions of solopreneurs don't claim this valuable tax break, even though they're 100% eligible. Many people don't realize they can take the home office deduction. Others are afraid to claim it because they...

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How to Make Estimated Tax Payments and Avoid IRS Penalties

So many people – especially newly divorced single moms and first-time freelancers – end up in tax trouble for one common reason: They don't realize they need to make estimated tax payments.  So if you: Started a business Have a side gig Got unemployment Work from home as a freelancer Have any 1099-NEC or 1099-MISC...

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Don’t Panic If You Can’t Pay Your Taxes!

Afraid to file your tax return because you owe money you can't afford to pay? Big unexpected tax bills can set off your panic button… but you don’t have to worry about paying your taxes. This situation is easier to handle than you think, especially when you take a proactive approach instead of ignoring the problem...

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