Financial Blog
Single Moms Can Deduct up to $2,500 of Student Loan Interest
If you’re paying down a student loan for either you or your child, you can deduct up to $2,500 of the interest on your tax return – and you don’t even have to itemize to get that deduction. Yes, there are limits on the amount you can deduct, but many Americans can...
You Can Deduct up to $2,500 of Student Loan Interest
UPDATED FOR 2021 If you’re paying down a student loan, you can deduct up to $2,500 of the interest on your tax return – and you don’t even have to itemize to get that deduction. And while there are limits how much you can deduct, millions of Americans can...
Single Moms: Don’t Let your Ex Tank your EITC Refund
Even the smallest issue with your Earned Income Tax Credit (EITC) claim gives the IRS a reason to deny your claim or delay your refund. And we single moms have so much going on all the time that it’s easy to overlook things and make mistakes. But one of the most...
5 Things You Don’t Know About the EITC
The Earned Income Tax Credit, or EITC, is one of the biggest tax credits you can get, but many eligible taxpayers – including single moms – don’t claim it. People have a lot of mistaken ideas about this highly beneficial tax credit, like it’s only for very poor people...
Easier Isn’t Better When It Comes to Tax Forms
It’s tempting to use the (almost always) free and super easy tax form choices – 1040EZ and 1040A – but using them could make your tax bill higher than it needs to be. If you have a very simple tax situation – single, no kids, a W-2 job, a little interest income, for...