Get the Charitable Contribution Tax Deduction in 3 Steps
Donating to charity can give you more than just the warm fuzzies. It can also mean hefty savings when you file your taxes. If you itemize deductions on your tax…
Ramona Paden
Posts by Ramona Paden:
Child Tax Credit 2018: What’s New, and Requirements to Qualify
The Child Tax Credit is a tax credit worth up to $2,000 per qualifying child and $500 per qualifying dependent in 2018. It is one of three kid-focused federal tax credits…
What Is Adjusted Gross Income (AGI)?
You’ll see the term “adjusted gross income (AGI)” repeated throughout your tax forms. Adjusted gross income is your gross income — which includes wages, dividends, alimony, capital gains and retirement distributions —…
What Are the IRS’s Standard Mileage Rates?
When you use your car for business, the IRS allows you to deduct that expense from your taxable income. You’ll itemize your deductions, using Form 2106 (Employee Business Expenses) if…
Tax Filing Deadline for 2017
The usual tax filing date of April 15 is extended this year: You have until Tuesday, April 18, 2017, to file your 2016 tax return with Uncle Sam. That means…
1099-MISC: Business Expenses for Independent Contractors
If you work as a freelancer, consultant or contractor — even as a side gig — your tax situation is more complex than that of someone who draws a regular…
How to Deduct State Taxes on Your Federal Tax Return
In most states, tax season isn’t a one-and-done undertaking. You have to file both a federal return and a state return, unless you live in a state that doesn’t tax wages.…
What You Should Know About IRS Audits
Once you’ve filed your return to the IRS, you’re finished with your taxes for the year — at least that’s the hope. But if the IRS has questions about your…
U.S. States With No Income Tax
For most taxpayers, filing a tax return with the IRS is just step one in the annual tax ritual. But folks who live or work in seven U.S. states can…
What’s the Penalty for Failure to File Taxes?
If you haven’t filed a tax return in several years, the first advice you’d get from any tax expert is to file your past returns as soon as possible. While the government…
