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For many married couples across the United States, tax season can be a source of stress, especially when discrepancies or errors emerge during the joint filing process. Traditionally, spouses opt to file their taxes together, benefiting from higher deductions and potential tax breaks. However, this joint filing system also introduces a risk of encountering financial...
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Deciding to hire an accountant is a significant step for any small business owner. Accountants not only alleviate much of the administrative burden associated with managing a business, but they also become increasingly vital as your operations grow and financial matters become more complex. This guide will explore whether bringing an accountant on board is...
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In August 2023, Empower, a financial services company, in collaboration with The Harris Poll, conducted a survey involving 2,034 Americans aged 18 and older to explore their views on financial happiness. The survey revealed that 59% of participants believe that happiness can indeed be purchased, and on average, they considered $1.2 million in savings as...
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The federal tax deadline of April 15 has come and gone, and if you didn’t manage to file your taxes by this date, it’s crucial to act quickly. Tax experts advise that you should file your return and settle any taxes owed as soon as possible to avoid further penalties. For those who haven’t filed...
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Creating a budget is a fundamental step towards achieving your financial goals. Whether you’re saving for a big purchase, trying to pay off debt, or simply aiming to manage your daily expenses more efficiently, a well-planned budget can make a significant difference. Here are four essential steps to create a budget that aligns with your...
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The mere mention of taxes is enough to dampen spirits across various age groups, yet it appears that the younger demographic, particularly those belonging to Generation Z, find the tax season to be a significantly more daunting period. This group, many of whom are navigating the complexities of tax filing for the first time, are...
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As the calendar days inch closer, the stress levels for many Americans tend to rise, especially when it comes to dealing with taxes. Yes, tax season is upon us, with the deadline to file your taxes falling on Monday, April 15th. If you’re among the many who find themselves scrambling as the deadline approaches, fear...
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As a reminder to those who have not yet filed their 2022 tax returns, April 18, 2023 is the due date to either file a return (and pay the taxes owed) or file for an extension (and pay an estimate of the taxes owed). The due date is April 18, instead of April 15, because...
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Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today. Previously, the deadline had been postponed to May 15 for these areas. The IRS is offering relief to...
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1. They are ethical people.Tax preparers must pass an ethics exam in order to obtain their license. It basically serves as a test that teaches them not to conceal information or lie. If you ask a tax preparer if they think you look fat in this dress, they will be honest with you and you...
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