tax lounge Blog - Page 9

When it comes to filing taxes, online filing has made a huge difference. For both tax professionals and people filing their own taxes, online filing has made submitting tax returns much easier, along …

Generally speaking, the majority of the income you earn is taxable. However, there are several important exceptions. Here’s a list of taxable vs. not taxable income.  What is Taxable Income? Most …

Being a single parent is one of the hardest jobs around. Thankfully, there are a number of single parent tax credits, tax deductions, and tax exemptions available for single moms and dads. If you know…

For self-employed individuals, there are a lot more steps involved when it comes to taxes than for most people. For one, no one is withholding taxes from your paycheck, so you’re on the hook for makin…

Many individuals who fell on hard times may have struggled to pay their mortgage, or they spent hours negotiating their credit card debt with their lender. If these scenarios resulted in a foreclosure…

If you’ve moved recently, it’s possible you’ll be able to deduct your moving expenses from your federal taxes. However, there are a number of qualifications you need to meet for the moving expenses de…

Believe it or not, unemployment compensation is taxable income. Too few people seem to know this — or maybe it’s just that too few people want to know this. Nevertheless, this oversight could lead to …

If you’re a student, you may qualify for specific tax deductions that can ultimately help you with the cost of your schooling. There are also a number of additional resources available for students in…

In addition to the many advantages of working for yourself or owning your own business, there are also an added number of responsibilities, including budgeting for your tax payments. For people who wo…