Category: Do Your Own Taxes

Save Big on Taxes in Retirement with These Simple Strategies

Note: This post contains affiliate links. If you buy something through one of these links, I may receive a commission. It’s the number one goal in retirement: Making your money last. And one of the best – but too often ignored – ways to do that is to lower your biggest household expense: TAXES. By using...

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7 Reasons to NEVER Borrow from Your 401(k)

You’re sitting on a pile of cash… and you really need that money now. You’re struggling with debt, having a hard time making ends meet, and that 401(k) money is just sitting there, locked away for the next 20 (or 30 or 40) years. At first glance, it makes sense to tap into that stash...

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How to Handle Mistakes on Your Taxes - It’s Easier Than You Think!

A lot of single moms get freaked out by the thought of doing their own taxes. All the rules and forms and schedules feel confusing and overwhelming. And the fear of getting it wrong and getting in trouble with the IRS drive a lot of women to professional tax preparers. But here’s what most people...

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Phased out of a Roth IRA? Here’s How to Use the Backdoor and Avoid Tax Traps

UPDATED FOR 2019 I’m a big fan of Roth IRAs: They offer the most flexibility and best future tax advantages for retirement money… Earnings are never taxed You can withdraw your contributions at any time without penalty You don’t have to take the money out after you hit retirement age As long as you’re working, you...

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How to Combat Tax Identity Theft

You won’t know it’s a problem until you try to file your tax return and it comes back INVALID – but tax identity thieves may have already targeted you. Every year, they come up with new ways to steal your Social Security number and grab a tax refund in your name. Then, when you try...

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How to Get a $10,000 Tax Break for Your New Business

It costs money to get even the simplest business up and running from scratch. And if you're like most aspiring single-mom entrepreneurs, you're bootstrapping your business without much cash to spare…and not much money coming in. You need every possible break you can get. And that's where two special $5,000 tax deals come in. You...

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