The Motley Fool

DECEMBER 16, 2023

Image source: Getty Images Filing taxes isn't always a smooth process. But if you struggled with your tax return in 2023, Mark Steber, Chief Tax Information Officer at Jackson Hewitt , warns, "The upcoming tax-filing season will be yet another complex year." One thing you can do if you haven't already is max out your IRA.

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The Motley Fool

APRIL 19, 2024

Image source: Getty Images So you submitted your tax return and heaved a big sigh of relief at having one unpleasant task in your life done with. It's merely a notice from the IRS indicating that the information you entered on your tax return doesn't match the agency's records. If you agree, you fill out the notice and send it back.

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The Motley Fool

JANUARY 18, 2024

Image source: Getty Images Paying taxes is a part of life for all of us. And unfortunately, mismanaging your tax situation could result in a hit to your personal finances. So could falling victim to certain blunders on your tax return. Don't just put "$3,000" on your taxes and assume that's good enough. Accuracy matters.

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The Motley Fool

FEBRUARY 12, 2024

Image source: Getty Images You may want to begin organizing your tax documents soon. But if you need assistance preparing your tax return, there is still time to get help. One such resource available to eligible taxpayers is the AARP Foundation Tax-Aide program. The AARP Foundation Tax-Aide is available from Feb.

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The Motley Fool

FEBRUARY 17, 2024

Image source: Getty Images If you itemize deductions on your tax return, one of the best ways to save money and do a lot of good at the same time is to donate to charitable organizations. While it's a well-known fact that charitable contributions are usually tax-deductible, there are some strategies you can use to maximize the value of yours.

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The Motley Fool

JANUARY 28, 2024

Image source: Getty Images Tax season causes a lot of Americans to get familiar with complex vocabulary and concepts that they might only use once per year. As a result, there are a lot of misunderstandings about filing taxes. It's no surprise that people get confused about taxes. After all, the IRS tax code is complicated.

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The Motley Fool

MARCH 7, 2024

Image source: Getty Images Tax season is here. You still have time to file your 2023 tax return. If you're worried about the cost of tax software , explore free and low-cost resources. Explore low-cost and free tax prep and filing options It's essential to file your federal tax return by the April deadline.

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The Motley Fool

DECEMBER 31, 2023

Image source: Getty Images Filing your taxes isn't something most people look forward to doing thanks to all of the paperwork involved. But, while it can be a hassle, there are also benefits to getting your tax return in -- especially if you are eagerly awaiting a refund from the IRS. So when can you start to file your 2023 taxes?

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The Motley Fool

JANUARY 12, 2024

Image source: Getty Images Now that 2024 is in full swing, it's time to focus on a task you (like others) might dread: filing taxes. Tax returns for 2023 are due this year on April 15. You may not be in a position to get your tax return done by late January, since that's only a couple of weeks away. Here's why. Here's why.

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The Motley Fool

MARCH 13, 2024

Image source: Getty Images The deadline to file your tax return for the 2023 tax year is April 15, 2024, which is rapidly approaching. Maybe you're still waiting for some of your tax documentation to arrive. And if six months from April 15 falls on a weekend or holiday, the extended tax deadline will be the next weekday.

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The Motley Fool

FEBRUARY 21, 2024

Image source: Getty Images The 2024 tax season officially kicked off in late January. And 2023 returns are due on April 15 this year, which is the standard tax-filing deadline. Filing taxes can be complicated even when you're a regular old salaried employee.

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The Motley Fool

FEBRUARY 11, 2024

Image source: Getty Images I've yet to meet anyone who gets excited about taxes. Every year, millions of Americans hire tax professionals to do their returns for them. If you're thinking about going this route for your 2023 taxes, take the following three steps first to make sure you're working with the right person.

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Private Equity Insights

MARCH 27, 2025

Recent changes to international tax regimes, combined with Luxembourgs own reforms, have boosted the countrys appeal. Tools like BCKL, developed by ATOZ Solutions, simplify reporting and document tracking. The country is adapting through targeted tax reforms, secondaries market expansion, regulatory clarity, and tech innovation.

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The Motley Fool

FEBRUARY 10, 2024

Image source: Getty Images Now that we're into tax season, you're likely starting to gather all your tax documents. Tax software can guide you through tax preparation so it's less overwhelming. To avoid paying high preparation and filing fees, check to see if you qualify for free tax preparation services.

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The Motley Fool

APRIL 18, 2024

Image source: Getty Images Lots of small business owners might not know this, but the federal government is requiring you to file some new documentation this year. Just like filing taxes, if you don't do it, the consequences are severe. This is much easier than filing taxes ! You cannot afford to miss this deadline.

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The Motley Fool

MARCH 5, 2024

Image source: The Motley Fool/Upsplash The odds of your tax return being audited are roughly 3 in 1,000, or 0.3%. Some people will try anything, from paying top dollar for an accountant's help filing their returns to buying tax software with all the bells and whistles. And that's where tax preparation software may come in handy.

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The Motley Fool

JULY 15, 2023

Gather financial accounts and legal documents First, you want to gather all your parents' financial accounts and relevant legal documents (if your parents are anything like mine, this is much easier said than done). Income like dividends could also generate a tax bill. Here are four steps to guide you.

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The Motley Fool

MARCH 18, 2024

Image source: Getty Images Doing your taxes isn't fun even in the best-case scenario, but for most people, they're at least not too painful. You spend a couple of hours entering data into your tax software, file your return, and get a refund check a few weeks later. You do this through the IRS Free File system, not your tax software.

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The Motley Fool

MARCH 16, 2024

Image source: Getty Images Did you know that a computer helps determine which tax returns should be audited? In fact, if you receive a letter from the IRS saying it found a mistake on your tax return, there's a very good chance it involves an easy-to-resolve issue. Take time to gather all the documents you'll need before filing.

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The Motley Fool

SEPTEMBER 26, 2023

Image source: Getty Images Many of us have seen a tax audit play out in a movie or TV show. The IRS does not have the financial resources to send teams of agents to the door of every single tax filer whose return seems a bit off. That said, most people would rather not have their taxes audited. This shift makes sense.

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The Motley Fool

MARCH 22, 2024

Similarly, when you earn freelance income, you have to report that income on your taxes and pay the IRS a portion. When you're paid on a freelance or self-employed basis, you get your full wage, and it's on you to allocate some of that money for tax purposes. But don't not claim freelance income due to an inability to pay a tax debt.

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The Motley Fool

MARCH 21, 2024

That's okay -- the Golden State makes it easy to delay filing taxes. Whether you're waiting on a form or just need more time, you can delay filing your taxes until Oct. According to the California Franchise Tax Board (FTB), there's no need to fill out any application. Enter tax year, payment amount, and payment date.

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The Motley Fool

MAY 26, 2024

Image source: The Motley Fool/Upsplash At this point, the 2024 tax season is thankfully in many people's rearview mirrors. And hopefully, you've either gotten your tax refund already or are expecting it to arrive any day now. As of early May, the average tax refund issued this year was $2,864.

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The Motley Fool

AUGUST 20, 2023

Don't forget about other homeownership costs While you'll no longer owe money toward the loan's principal or be responsible for interest, you'll need to keep paying your property taxes. You'll likely begin to receive property tax bills directly from state, country, and local governments.

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The Motley Fool

JUNE 16, 2023

One document you may not think to access or look at before closing on your home is your property survey. But actually, it's a document you really don't want to overlook. The importance of reviewing your property survey Your property survey is a document that spells out the boundaries of your property.

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The Motley Fool

MARCH 18, 2024

As you send this interest money to your lender each month, you may be wondering if you can deduct the interest from your tax bill. If you file your taxes as married filing separately , the amount you can deduct is lower though. You can use this form when you are doing your tax preparation. In fact, IRS data showed that 87.3%

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The Motley Fool

MARCH 21, 2024

Image source: Getty Images Recently, the IRS warned that phone delays should be anticipated during the run-up to the tax-filing deadline for submitting 2023 tax returns. In response to the fact so many taxpayers call for help with their taxes at this time of year, the agency suggested an alternative if you need customer support.

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The Motley Fool

APRIL 1, 2024

Image source: Getty Images You've finally sent off your tax return to the IRS and -- too late -- realize that you did something wrong. If the mistake caused you to underreport your income and the government catches wind of it, it could charge you additional taxes plus a penalty. Whatever the cause, you've now got a problem.

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The Motley Fool

JANUARY 22, 2024

Image source: Getty Images Small business owners have to deal with a few different types of legal compliance and document filing requirements throughout the year. But along with forming an LLC, filing annual reports for a corporation, or filing business tax returns, now there's a new one called "BOI."

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The Motley Fool

MARCH 21, 2024

But part of that money is also being allocated to ramp up tax enforcement -- meaning, making sure people are paying the taxes they're supposed to. Read more: we researched free tax software and put together a list of the best options here Now at first, you might hear news like that and think, "Great, guess that means more IRS audits."

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The Motley Fool

APRIL 6, 2024

Image source: The Motley Fool/Upsplash Tax Day in 2024 is April 15, which is rapidly approaching. And while millions of Americans have already filed their returns, received tax refunds (or paid what they owe), and moved on, there are millions of others who have not. Some are still trying to track down various tax documents.

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The Motley Fool

OCTOBER 28, 2023

But another reason to do this is to save time and minimize stress during the upcoming tax season. Review documents like your bank statements, business credit card statements, payroll reports, and balance sheet, and make sure you know where everything is. As we approach Dec. 31, now is an ideal time to get your finances in order.

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The Motley Fool

MAY 16, 2024

The need for Social Security reform has been well documented. The Social Security payroll tax covers more income In 2024, workers will pay Social Security tax on their first $168,600 in wages. As the taxable wage cap rises, the program should collect more tax revenue. 2024 is no different. That's up 5.3%

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The Motley Fool

DECEMBER 25, 2023

Image source: Getty Images If you itemize deductions on your tax return, you can claim a deduction for any charitable giving you've done throughout the year. Tax deductions The obvious reason to donate your car is to get a tax deduction. This doesn't just include money -- if you donate property, you can take a deduction as well.

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The Motley Fool

JULY 28, 2024

I value my privacy -- a lot You might think that there are special tax breaks to be enjoyed with a living trust. But I don't see any obvious tax benefit. See, the will I put together is a valid legal document. But when you use a will to pass assets on to your heirs, it becomes subject to a process called probate.

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The Motley Fool

NOVEMBER 26, 2023

UiPath UiPath specializes in robotic process automation (RPA), a technology that can automate simple and repetitive tasks like moving files or extracting data from a structured document. UiPath is a recognized leader in several relevant software categories, including RPA, task mining, process mining, and intelligent document processing.

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The Motley Fool

SEPTEMBER 19, 2024

What you need to apply You can speed up your Social Security application by making sure you have all the necessary information and documents ready in advance. These include: Your Social Security number Your original birth certificate or proof of U.S. These include: Your Social Security number Your original birth certificate or proof of U.S.

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