by Michele Cagan | Apr 17, 2017 | Do Your Own Taxes, Saving and Investing, Single Mom CPA
It’s good to owe taxes when you file your return. I know that sounds crazy, and it’s definitely not a popular opinion…but it’s the best situation for you financially…especially if you’re a single mom stretching your income to support your family. After all,...
by Michele Cagan | Apr 17, 2017 | Do Your Own Taxes, Personal Finance
It’s good to owe taxes when you file your return. I know that sounds crazy, and it’s definitely not a popular opinion…but it’s the best situation for you financially. After all, there’s a reason it’s called a tax return: The government has to pay you back the extra...
by Michele Cagan | Apr 12, 2017 | Do Your Own Taxes, Personal Finance, Retirement Planning, Saving and Investing
Updated for 2021 Disclosure: Some of the links on this page are affiliate links. This means if you click on the link and purchase the item, I will receive an affiliate commission. Not sure how to open an IRA account? All it takes is 5 simple steps, and...
by Michele Cagan | Apr 11, 2017 | Do Your Own Taxes, Personal Finance, Retirement Planning, Saving and Investing
It’s not too late to make your IRA contribution for 2016, whether you go with the tax-deductible traditional IRA or the Roth IRA (which is not deductible this year but offers many other advantages). In fact, you have until Monday, April 18 to contribute – and, if...
by Michele Cagan | Apr 3, 2017 | Do Your Own Taxes
UPDATED FOR 2021 Can I deduct my mortgage insurance? Can I deduct the points from refinancing my mortgage? Can I have a 401(k) AND a Roth IRA? What’s the difference between a tax deduction and a tax credit? Question: Can I deduct my mortgage insurance? Answer:...
by Michele Cagan | Mar 30, 2017 | Do Your Own Taxes, Kids and Money, Single Mom CPA
Putting someone – including yourself – through college can put a major dent in your finances. But a very generous tax credit can put a big chunk of change back in your pocket. The American Opportunity Tax Credit, or AOTC, can chop $2,500 per student off your tax bill....
