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The Most Common Misunderstandings About Tax Returns and Refunds

The Motley Fool

tax code is complex. While I can't debunk every tax myth, here are three of the biggest misunderstandings you should know the truth about as tax season gets underway. If you file an extension, you'll get an extra six months to file, making your tax return due on Oct. Image source: Getty Images The U.S.

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It's March and I Don't Have All of My Tax Forms Yet. Now What?

The Motley Fool

Image source: Getty Images Now that March has arrived, it's time to get serious about filing your taxes. But what if you're missing some key tax forms at this stage of the game? So if you don't have all of the tax documents you need in hand at this point, it's time to take action.

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3 Tax Tips for LGBTQ Americans

The Motley Fool

Image source: Getty Images In a perfect world, tax season wouldn't be stressful at all -- state and federal governments would tell us what we owe (or how much we overpaid) directly, and issue a tax refund or a bill, depending on your status. Read more: we researched free tax software and put together a list of the best options here 1.

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Here's How to Donate Your Car for Maximum Tax Benefits

The Motley Fool

After all, you can't simply drive your old car to your favorite charitable organization, hand your keys over to a staff member, and take a tax deduction. Typically, you'll receive a written receipt that tells you how much the car sold for, and this is the amount you should use as a tax deduction. We'll go through the latter in a bit.

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3 Costly Tax Mistakes to Avoid in 2024

The Motley Fool

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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AARP Offers Free Tax Prep to Older Adults and Taxpayers With Low to Moderate Incomes

The Motley Fool

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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Tax Hacks: 5 Smart Ways to Increase Your Charitable Write-offs

The Motley Fool

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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