Homeowners who make improvements like replacing old doors and windows, installing solar panels or upgrading a hot water heater may qualify for home energy tax credits. Who can claim the credits Taxpayers making improvements to their principal, or in some cases, secondary residence may be eligible for these credits. In some cases, renters may also be…

If you’ve got debt, you’ll need an easy-to-use budget to help you pay it down. Here’s the quickest and easiest ways to become debt free. Money is a finite resource. It runs out. If you’re on a debt repayment journey, you’ve probably noticed that by the end of the month, you’re often left with less…

Need to break the paycheck to paycheck cycle? Try these tips to start and build your emergency fund. Living paycheck to paycheck often feels like walking on a financial tightrope. Every dollar has a purpose and unexpected costs can disrupt your balance. An emergency fund is a great way to respond to those unforeseen fees.…

In the ever-evolving economic landscape, finding ways to minimize monthly expenses is more than a mere attempt at frugality; it’s a necessity for financial survival and comfort. This guide will explore unique and effective strategies for reducing your monthly outlay, striking a balance between maintaining a quality life and ensuring your bank account remains healthy. Refine Your Utility Usage Utilities…

The IRS hit Americans with $7 billion in tax penalties in 2023, a record-high level that marks a nearly 300% increase from the prior year. The majority of the fines were levied against those who underpaid their estimated quarterly income taxes, which is predominantly freelancers, gig workers and other self-employed individuals. In fiscal year 2023,…

KEY POINTS The IRS typically issues tax refunds within 21 days of receiving an electronically filed return. If the IRS takes longer than usual to process your refund, and it’s not due to an error on your part, then you may be entitled to interest on your overdue refund. There’s an easy way to check…

It’s tempting to only pay the minimum your credit card requires, but here’s how to escape the black hole of credit card debt in no time. So you spent a little too much on take-out this month — or maybe you went a little overboard at that sale at T.J. Maxx, or you decided to…

I am closing my office as of June 30, 2024 and will reopen on September 2, 2024. If you need taxes done for 2021, 2022, or 2023, it is important to get them done now. The tax filing season for 2023 ends on Oct0ber 15, 2024. If you fail to file taxes for 2021 or…

Here are some simple things taxpayers can do throughout the year to make filing season less stressful. Organize tax records. Create a system that keeps all important information together. Taxpayers can use a software program for electronic recordkeeping or store paper documents in clearly labeled folders. They should add tax records to their files as…

Whether someone is a current homeowner or buying a new home this summer owning a home can be expensive. There are tax benefits that can help taxpayers save money and offset some of the costs that come with homeownership. Homeowners should review the tax deductions, programs and housing allowances to see if they are eligible.…