In the past, we’ve highlighted the most tax friendly states for retirees. We thought we should also identify the least tax advantageous states for all individuals. It should come as no surprise that California is at the top of the list for having the highest taxes in multiple areas. The other states may surprise you as well. Read More.
The 16 day government shutdown hasn’t only delayed tax refunds for those that filed for extensions in 2012. The IRS is now working through a backlog of inquiries and has informed the public that the filing season for the 2013 tax year will be delayed by up to two weeks. This means that the IRS will not begin processing returns until January 28th or as late as February 4th, 2014. What should you do to prepare for this delay? Read More.
The shutdown continues for the government and several areas of the IRS. Unfortunately, taxpayers haven’t been given additional time to file their extensions that are still due on Tuesday, October 15th. An estimated 12 million taxpayers that filed for extensions on April 15 will need to finalize their returns. What should you know if you’re filing your return? Read More.
This week the government failed to reach an agreement on the federal budget and lingering health care reform concerns. The effects have been widespread as it’s impacting over 800,000 government workers, areas of the economy that rely on certain government functions, and it’s bad overall publicity for the country. One other area that has been impacted is the IRS and certain taxpayers. Read More.
Most individual taxpayers must signup for health insurance or face a penalty. The penalties vary by taxpayer and there are actually instances in which a health care subsidy may be available. Find out how you will be impacted by the new requirement slated to go into effect January 1st, 2014. Read More.
This week the Tax Policy Center issued a report detailing the number of filers that don’t pay any taxes. The figures have changed since the recession of 2008, but the numbers may still surprise you. Read More.
The mainstream population always seems to view Florida as the best retirement destination. In many respects, most of the population is correct in that it is one of the most desirable places to live during your retirement. However, it’s not the most tax-friendly state when you review all of the other states. Read More.
During the summer months many of us are not thinking at all about taxes. It’s unfortunate because the most actionable tax planning you can do during the year may occur when you perform a mid-year assessment of your finances. Even more, it’s particularly important this year given that 2013 is the first year for the new tax legislation to go into effect. Read More.
Many back-to-school shoppers are days away from the best deals on school supplies courtesy of the annual state sales tax holidays. Consistent with prior years, we’ve compiled a list of states offering sales tax holidays for school supplies. Find out if your state is participating and/or has already released details. Read More.
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