11 Deductible Medical Expenses Most People Don’t Know About

11 Deductible Medical Expenses Most People Don’t Know About

If you paid a lot of medical bills in 2017, you may get a bigger tax break this year. The new tax law includes a retroactive change to the rules for medical expenses that makes it easier to deduct them (if you itemize your deductions). The old rule: You could only deduct expenses that exceeded 10% of your adjusted gross income (AGI). The new rule: That 10% is reduced down to 7.5% of AGI - and that means more of us can deduct more medical expenses. Here's how it works. Let's say your AGI for 2017 was $60,000, and you…

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6 Things You Need to Know About This Tax Season

There’s been a lot of talk about all the changes coming next tax season – but first you’ll have to get through this year’s tax return. To help you get started, here are six things you need to know about your 2017 tax return. April 17, 2018 is the due date for your 2017 return or extension. REMEMBER: Extensions let you file later, but you still have to pay any taxes you owe by April 17 to avoid interest and penalties. The IRS ramped up online security this year, so be ready to verify your identity if you need to…

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How To Mix Your Business And Your Kids

How to Mix Your Business and Your Kids

They’re two of the hardest jobs in the world: being a mom and running your own business. For single moms, the difficulty rating gets multiplied…but with a few simple strategies, you can win at both, and teach your kids some valuable lessons along the way. For the pre-school set, childcare is key When your kids are too young for school, reliable childcare makes all the difference. If you’re thinking you can do both – run your biz (even from home) while caring for young children – think again. It’s nearly impossible to do both well. Sure, having your own business…

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The Most Important Tax Tip For 2017: File EARLY

The Most Important Tax Tip for 2017: File EARLY

The MOST important tax tip I can give single moms for 2017 is this: File as soon as you possibly can. After this year’s enormous data breach, there’s a 50-50 chance that some criminal out there has all of your personal financial information – and he will use it to file a fake tax return, and steal your refund. Refund theft happens to millions of people every year…but the upcoming tax season will be even worse. Those sharks are already circling, and they’ll be ready to file on Day One. The best thing you can do to protect your refund…

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