Dear Lynnette, I was very upset yesterday to learn that my husband and I owe taxes ($1,100) for 2022. I am on Social Security and my husband is a supervisor at a motel here in Wyoming. I work part time...
Read moreWith the new tax filing deadline looming, I stopped into Black News Channel’s “BNC Live” to discuss the upsides of joint filings and the disadvantages of filing solo. To kick off the segment, I detailed the built-in “penalties” that single...
Read moreWith tax season upon us, millions of Americans are expecting sizable refunds. But there’s no consensus on the best ways to put that money to work. I stopped into PIX 11 in New York City to share some tips and strategies for...
Read moreWhen it comes to purchasing your next vehicle, you could be leaving money on the table. The truth is that savings on your next car are not only dependent on special deals offered by the dealership. There are also savings to...
Read moreWhile being a driver for Uber or Lyft is a great way to earn extra income, it can also come with many tax benefits and disadvantages. Getting an understanding of what can help you at tax time is essential so...
Read morePresident Donald Trump and the Republican Party are trying to rush a massive tax “reform” plan through Congress with as little as possible public hearings on the matter. It’s little wonder that the GOP doesn’t want too much scrutiny into...
Read moreStarting in spring of 2017, the IRS plans to allow private debt collection agencies to retrieve outstanding tax debt from consumers on behalf of the government. Signed into federal law under the Fixing America’s Surface Transportation Act (FAST Act) in...
Read moreIn terms of your financial future, your past credit mishaps can hold you back from opportunities that credit can offer. On your credit report, there a few things worse to appear than a tax lien (paid or outstanding) from the...
Read moreIf you owe a significant amount to the IRS, you may be able to pay the balance in an installment agreement with the IRS. This can help offset collection methods of the IRS, like freezing your bank account and putting...
Read moreWhile it’s been often said that the two things you can’t escape in life are death and taxes, the IRS actually offers a way out for those behind on their payments. If you’ve been watching TV or listening to the...
Read moreIf you’ve prepared your taxes and you owe Uncle Sam, don’t make the mistake of not submitting your federal tax return simply because you’ve got a hefty tax bill. A failure to file your taxes will just compound your problems...
Read moreTax season often turns into stress season for a lot of Americans. Whether it’s the pressure of organizing financial documents or fears about getting audited, most adults dread the run-up to the annual April tax filing deadline. A survey from...
Read moreGreat question! But what you really meant to ask is – when can I file my 2015 taxes? It’s a bit confusing. In 2016 you will be filing your 2015 taxes, settling up with Uncle Sam on the income you...
Read moreDidn’t file your 2014 taxes by April 15, 2015? No worries, we’ll let you in on an industry secret – if you’re getting a refund, you can file for up to 3 years with no late fees or penalties! If...
Read moreWhat is e-file? How do you e-file your taxes? We explain it all in this short and sweet article. What is e-file? eFile, also known as e-file or electronic filing, is a system for submitting tax information to the IRS...
Read moreAll information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.
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