A Few Tips for First-Time Tax Filers

Filing your taxes for the first time can be intimidating. There’s a good chance you’ve heard people complain about having...
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Why You Should Hire a Tax Professional Like 123IncomeTaxInc

Taxes can be confusing, stressful, and time-consuming. Whether you're filing as an individual or a business, trying to navigate tax...
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Did You Contribute to a 401(k), IRA, or Retirement Plan? Here’s What You Need to Know for Tax Season

If you contributed to a 401(k), IRA, or another retirement plan this year, it can have a meaningful impact on...
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Why Do We Pay Taxes?

Generally, people don’t like paying taxes. When their paycheck comes, they see that a large amount of money is taken...
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Should You File Taxes If You Owe Child Support?

If you owe child support, you may be wondering whether you should still file your taxes. The simple answer is...
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Did You Buy, Sell, or Receive Cryptocurrency, NFTs, or Digital Assets?

When preparing a tax return today, one of the most important questions taxpayers must answer involves digital assets. The Internal...
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Did You Earn Tip Income That May Now Qualify for Tax Benefits? Here’s What You Need to Know

If you earned tip income this year, you may be wondering how it affects your taxes and whether you qualify...
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How Long Do I Have to Wait Until I Get My Tax Refund in 2024?

We’ve based these timelines on historical data noting that most refunds will be issued by the IRS in less than...
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Did You Earn Income from Uber, DoorDash, Airbnb, or Freelance Work?

If you earned money from platforms like Uber, DoorDash, Airbnb, or freelance work this year, you are part of the...
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Did You Receive Payments Through Venmo, PayPal, Cash App, or Online Marketplaces? Here’s What You Need to Know

If you received payments through apps like Venmo, PayPal, Cash App, or online marketplaces this year, it’s important to understand...
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How to Check Your Withholding

Withholding is the amount of income tax your employer pays on your behalf from your paycheck. The changes to the...
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Why the IRS Is Moving Away from Paper Checks

For decades, receiving a tax refund by mail in the form of a paper check was the norm. Many taxpayers...
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Did Your Income or Filing Status Change This Year? Here’s What You Need to Know for Tax Season

If your income or filing status changed this year, it can have a significant impact on your tax return. Many...
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Major Tax Changes for 2024

Tax Brackets Increase for All Filing Statuses Your federal taxes are calculated based on the tax brackets for your filing...
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Doing Your Taxes When You Owe Student Loans: What You Need to Know

If you’re one of the millions of Americans with student loan debt, tax season might bring up some questions about...
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When Are Taxes Due in 2024?

Tax Day is typically April 15 each year unless the day falls on a holiday or weekend. The pandemic in...
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How will the expanded child tax credit affect me?

For 2024, the total credit for eligible families rose to as much as $3,600 for each child under 6 and...
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Should You File Taxes at 18? Here’s What You Need to Know

Turning 18 comes with new responsibilities—voting, managing your finances, and yes, potentially filing taxes. If you're wondering whether you need...
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Your Crypto and Invesment Is Taxable in 2024

If you invested in crypto last year, you may be in for a rude awakening this tax season. Yes, your...
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When are My Taxes Due in 2024?

There are several tax deadlines to be aware of, including the federal deadline, your individual state deadline, and the late...
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