Article Published by: cnbc.com *The Tax Cuts and Jobs Act eliminated the deduction for investment expenses, starting in 2018. *Fees for investment costs were deductible as a miscellaneous itemized deduction, to the extent they and other costs exceeded 2 percent of your adjusted gross income. *To contend with...
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Article Published by: Time.com Essentially, your net worth is the value of what you own, minus what you owe. Or, as a formula: assets – liabilities = net worth An easy way to figure it out it is via an online calculator like the one at Bankrate.com. But...
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Article Published by: mjscpa.com Millions of Americans forgo critical tax relief each year by failing to claim the Earned Income Tax Credit (EITC), a federal tax credit for individuals who work but do not earn high incomes. Taxpayers who qualify and claim the credit could pay...
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Article Published by: money.cnn Americans are spending. A lot. And not just on Amazon. Retail sales rose 0.8% in May, the government reported Thursday — much better than expected. Spending was up 5.9% from a year ago. And the gains were broad: Spending surged at clothing stores, at...
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Article Published by: taxpayeradvocate.irs.gov Every year, the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This story is only one of many examples of how TAS helps resolve taxpayer’s tax issues. All personal details are removed to protect the taxpayer’s privacy. A taxpayer under...
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Article Published by: huffintonpost.com More than 40 million Americans have student loan debt. Of those borrowers, 5.6 million owe more than $50,000. That kind of crushing five-figure debt can take a real financial and mental toll. If you fantasize about running off to a foreign country or...
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Article Published by: cnbc.com Alimony payments for divorces finalized after Dec. 31 will no longer be tax deductible under the Tax Cuts and Jobs Act. Because some states require six months for a divorce to be finalized, you need to get your divorce proceedings started now...
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Article Published by: mjscpa.com Three Common Types of IRS Tax Penalties Around this time of year, many people have filed and forgotten about their 2017 tax returns. But you could get an abrupt reminder in the form of an IRS penalty. Here are three common types of...
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