Category «Individual»

IRS is Now on Instagram

IRS launches Instagram account to help taxpayers: Agency adds social media platform to reach more taxpayers, share timely information on filing season, tax law changes, tax scams IR-2018-237, November 30, 2018 WASHINGTON — As part of a larger mission of helping all taxpayers understand and meet their tax responsibilities, the Internal Revenue Service announced today …

2018 Tax Changes: What’s New and How does it Impact ME?

Tax Rates and brackets changed Standard Deduction amount increased Single or Married Filing Separately—$12,000. Married Filing Jointly or Qualifying Widow(er)—$24,000. Head of Household—$18,000. Personal Exemption Deduction was suspended. Itemized Deductions are no longer limited if your AGI is over a certain amount. Sales Tax and Property Tax is limited to a combined total of $10,000 …

Creating a Budget AND Sticking to It

Budgeting is simply spending less than your income. To create your budget, you must determine your take-home income. It is easy to overestimate what you can afford if you think of your total salary as what you have to spend. Keep in mind that you must subtract deductions, such as social security, taxes, 401 (k) …