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If someone offered to take part of your paycheck each pay period and hold it for you until the end of the year, then charge you a fee of up to 2000% (yes, two thousand percent) to get it back, you'd probably laugh them out of town. Yet if you've ever taken a pay day loan or...
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Claim too many withholding exemptions on the Form W-4 you file with your employer and you'll end up paying Uncle Sam when you file your taxes. I don't know about you, but I hate it when that happens!
Claim too few withholding exemptions and you'll end up lending Uncle Sam...
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Five Great Tips for Coming Out Ahead
The latest tax law included a new 10% tax bracket, which means that, depending on your filing status, the first $6,000 to $12,000 of your income will be taxed at 10% instead of 15%.
If you're expecting an income tax refund this...
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Itemize Deductions
Part of sound financial planning is ensuring that you don't pay more taxes than necessary, which means you need to have at least a basic understanding of itemized deductions, even if an accountant prepares your taxes. It's especially important if you...
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Many families with kids are getting some welcome, though temporary, tax relief with an increase in the Child Tax Credit (see footnote). The child tax credit is a reduction in your actual taxes, not just a deduction from your taxable income.
How Much Is the Child Tax...
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The Worst Thing You Can Do Is To Do Nothing
What happens if April 15th rolls around and you just can't come up with the money to pay your Federal income tax? There are separate penalties for filing late and paying late, and the "failure to file" penalty is much worse than...
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