tax lounge Blog - Page 6

Did you play grandma’s lucky numbers for this week’s Mega Million lottery? How about your birthday and high school jersey number for this week’s Powerball drawing? If you play the winning lottery nu…

Since 1985, Breast Cancer Awareness Month has been observed each October. And no doubt every year since then at this time, you’ve seen the official image of breast cancer awareness, a pink ribbon, and…

Taxpayers could be in for a big surprise when they file their 2018 federal income tax return. In a survey* of more than 1,000 taxpayers, Liberty Tax® found that about 70 percent hadn’t checked their …

As we learned in a blockbuster superhero film, with great power comes great responsibility. Yet while celebrities often make far more money than the average American, they’re not necessarily better at…

Form W-2 and Form W-4 sound pretty similar right? Let’s face it, they’re only two digits away from being the same word. If you’re new to tax world, you may be wondering, “What’s the difference?” and “…

As with many careers, construction workers have specific sets of skills and tools they need to perform their jobs well. Fortunately, the IRS recognizes that these skills and tools aren’t cheap to acqu…

How can you get up to $7,500 in tax credit from the federal government, save a lot of money on gas, and do something good for the environment? The answer is shockingly simple: buy a new electric or pl…

Almost everyone knows about the new tax reform law that takes effect for tax year 2018, but not many know about the new 2018 tax rates. How well do you know your new tax rate? Many taxpayers who don’t…

You’ve probably already seen changes to your paycheck due to the new personal income tax rates and brackets created by the Tax Cuts and Jobs Act. But the new tax-withheld amounts are actually only est…