Money

Reboot Your Budget to Prepare for Reopening

Picture cruising your car deep into 2021 and never glancing in the rearview mirror. Vaccines, travel and a hope of normalcy are finally on the horizon. With so much to…

Interactive Tax Assistant 101

MoneyTips

Since 2010, the Internal Revenue Service (IRS) budget has been cut by roughly 20%, and it now has 22% fewer employees than it did in 2010, making IRS customer service challenging, to say the least. The IRS subjected 8.8 million taxpayers to "courtesy disconnects" through the 2015 tax-filing season that ended in mid-2016. "Courtesy disconnects" are a euphemism for hanging up on taxpayers after a prolonged hold time. In the previous tax year, there were “only” 544,000 courtesy disconnects.

Even if a taxpayer managed to get through, he or she wasted lots of precious time just waiting to speak to an IRS representative. In the 2020 fiscal year, IRS received more than 100 million calls on its toll-free telephone lines, but only about 24 million were answered by IRS employees. Taxpayers who got through had to wait an average of 18 minutes on hold. A report from the office of the National Taxpayer Advocate blamed budget cuts, outdated information technology, and insufficient staff...

5 Reasons To File Your Tax Return Now

Itemize Or Take The Standard Deduction On Your Federal Income Tax?

What are Deductions, Credits, and Exemptions?

When Should You Choose Taxable Investment Accounts?

While tax-advantaged retirement accounts, like 401(k)s and IRAs, are the most common way Americans own stocks, it’s possible—and even advisable—to choose taxable investment accounts for some of your financial goals. While taxable investment accounts aren’t right for every situation, but they could be a good fit for some of your investing dollars. What Is a […]

NYSE: What Is The New York Stock Exchange?

The New York Stock Exchange (NYSE) is the world’s largest stock exchange, with the market capitalization of its listed companies clocking in at a whopping $24.5 trillion. Over nine million corporate stocks and securities are traded on the NYSE every day. Some of the biggest companies trade on the NYSE, particularly within the technology, healthcare, […]

Do You Need Timeshare Insurance?

Timeshares offer travelers an alternative to traditional lodging options like hotels and resorts. If you vacation in a timeshare, it’s more private, you generally have more space, and you have amenities like a kitchen, washer/dryer and dining area. What Insurance Is Provided by a Timeshare Company? To find out what your particular timeshare provides for […]

Can I Deduct Medicare Costs on My Income Tax?

If you itemize deductions on your income taxes, Medicare costs, such as premiums and copayments, may be deductible. Your unreimbursed medical and dental expenses, including premiums, deductibles, copayments and other…