taxes Posts

The 7 Biggest Mistakes You Can Make While Filing Taxes

Rushing through this process may result in you overlooking tax deductions or making other serious mistakes. 2. Assuming Tax Day is always April 15 Tax Day usually falls on April 15; however, if that day comes on a weekend or holiday, it is moved to the following business day.

A Tax on Beards? History Has Seen Some Crazy Taxes

Ancient Egypt’s tax on cooking oil is, in fact, among the first recorded taxes in history. Tax collectors or scribes would go from door to door and check if citizens were reusing cooking oil. If any homeowner was found guilty, they would be given a stern warning and requested to buy fresh oil.

Checklist: Hurricane Aftermath Survival and Tax Relief

Register here: disasterassistance.gov *You may be eligible for tax relief. Check the IRS website to find out: irs.gov Fur further information on conducting yourself during a natural disaster, visit the CDC website: cdc.gov . Sources: 1 , 2 , 3 .

8 Financial Terms We Should All Know!

Tax-Free Income This is a term that's usually associated with municipal bonds.

5 Life-Changing Tips for Investing In Your 50+ Years

Contributions to this account are typically tax-deductible, meaning you can reduce your taxable income by the amount you contribute. Traditional IRA earnings grow tax-deferred until you withdraw the funds during retirement. Withdrawals made after the age of 59 ½ are subject to income tax. 2. 

14 Common Scams You Should Familiarize Yourself With!

Council Tax Refunds A cold-caller phones you telling you that you’re owed a rebate on your council tax bill, or are overpaying as your property is in the wrong tax band. They will then ask you to hand over your bank details so that your money can be refunded. 5.

Childcare Costs Got You Down? Read This!

This lets you put aside money before taxes to pay for childcare costs. Single parents can save up to $2,500 a year, while married couples filing jointly can save up to $5,000.

7 AARP Benefits Every Senior Should Take Advantage Of

Related: 7 Apps That Will Make Life Easier For the Elderly Table of contents Worry-free tax season Hearing tests Prescription discount card Free movies at home Pet insurance Other insurance discounts An extra AARP membership The cost of an AARP membership 1.

Guide: How to Use Rising Interest Rates to Your Benefit

Fine-tune your tax efficiency To minimize tax liabilities, financial experts advise fine-tuning your investment approach by reducing exposure to tax-inefficient assets in tax-advantaged accounts and increasing allocations to tax-efficient assets in taxable accounts.

The Past Was a Surprising and Truly Strange Time...

Did you know that in the early 1800s, unmarried men were asked to pay a tax? Or that a combine harvester was used to be pulled by over thirty horses? And in the 1960s in New York, a swim-mobile would parade around the city.

A Few Things We Bet You Never Knew About the USA!

During the 2015 tax year, the US Internal Revenue Service (IRS) assessed a total income tax of $1.454 trillion on Americans from a total of 150.6 million tax returns. This showed that the average American owed $9,655 in income tax at the time the statistics were collected.

10 Signs That Someone Has Stolen Your Identity

Notification for filing more than one tax return Yet another scam that identity thieves are known to attempt is filing a tax return in your name, claiming a phony refund and then swiping it from your mailbox.

15 Facts that Prove the World is NOT in Bad Shape

Taxes are up and wages are down. Everywhere you look it seems like people are convinced things are only going downhill. But here are a few facts most newspapers won't share with you. Not everything is going bad, some things in the world are actually getting much better than they used to be.

25 Incredible Facts About the Famous Genghis Khan

"Death and taxes" were guarantees in Mongol life One of the Khan’s most trusted advisors saw an opportunity for the Khan and his empire – he suggested that conquered peoples should be taxed rather than just slaughtered. In fact, death and taxes became cornerstones of his conquests. 15.

These Moments Defined America in the 20th Century

California Passes Proposition 13 (June 6, 1978) Voters of California overwhelmingly passed Proposition 13 in June of 1978, which limited local property taxes and made it harder for communities to raise them in the future.

8 Things That Should Always Be Kept In A Safe

Tax records Tax records should be kept for up to six years in case they are audited. According to the advice given by Trina Patel, a financial advice manager to Reader’s Digest, they’re also critical when you’re applying for a mortgage or car loan.