Finance Globe Blog

U.S. financial and economic topics from several finance writers.

Options to File your Taxes

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2019 is right around the corner. While you have some time in 2019, you will need to begin thinking about filing your taxes. There are a lot of options out there, and depending on your financial experience, you can either do it yourself or hire an accountant. Below are a few options to file your taxes: Hire an accountant : If you do not know and understand taxes, I would recommend to hire an account...
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Frank
I am planning to hire a CPA this year as my financial situation has gotten more complex over the years.
Tuesday, 29 January 2019 16:22
Frank
Has anyone already filed their tax returns? I have to say I have not.
Wednesday, 27 February 2019 16:05
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Start Preparing to File Your Taxes Early

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Are you the type of person who makes it a habit to file your tax return at the last minute? Are you hoping to get this off your plate earlier in 2019? Regardless of what you’ve done in the past, there are many reasons to file your taxes early next year. It’s a change to your typical system, but once you understand the benefits it’ll become second nature to you. 1. Faster Tax Refund There...
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Frank
This is a great idea, but I always file at the last minute. I am not a fan of taxes!
Monday, 29 October 2018 11:52
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Tax Deductions You May Be Overlooking

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​Do not ever overpay on your taxes! You should always take all the deductions that apply to you so you pay the lowest taxes possible. Below are several overlooked deductions you may not be considering when filing your taxes: State sales taxes – This write-off makes sense primarily for those who live in states that do not impose an income tax. You get to choose between deducting state and local income taxes, or state and...
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Top Reasons to Work With an Experienced CPA

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Whether or not you work with a CPA is a decision you have to make for yourself. While some people understand the benefits of doing so, others continue to put this on the backburner. You aren’t required to take this step in your financial life, but here are five reasons why you should consider doing so in the near future: 1. To Save You Money Simply put, a CPA can help you save money on...
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Frank
I would also add an experienced financial adviser as well especially if you do not have a great financial background. Make sure to... Read More
Tuesday, 26 September 2017 19:21
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5 Dos and Don'ts for Spending Your Tax Refund

5 Dos and Don'ts for Spending Your Tax Refund
While some Americans loathe tax season because of what they might owe Uncle Sam, many others wait for their tax refunds like children on Christmas Eve. If you’re due a refund this year, don’t blow it. Here are a few dos and don’ts to make the best use of your refund. Use it to catch up on past due bills . Sure, you might have had your eye on a shiny new tablet or nice new...
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Frank
I always put my tax refund into my IRA. I have always done that so I never assumed I was going to get any kind of "bonus".
Friday, 30 June 2017 14:53
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Watch Out for Scams During Tax Season

Watch Out for Scams During Tax Season
Wherever there’s money, you can count on there also being scammers trying to trick unsuspecting consumers into giving up money or giving up personal information (which can lead to the scammers getting money). Tax season is a favorite of scammers because so many taxpayers are unaware of tax rules and how the IRS typically sends communications. As you prepare to file your taxes, be on the lookout for scams. Scams For You to Pay Your...
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Frank
During this tax season, I was sent multiple emails on scams for tax software. Definitely need to watch out for these from January ... Read More
Monday, 22 May 2017 10:36
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Questions to Ask Your CPA to Start 2017

Questions to Ask Your CPA to Start 2017
As the calendar turns and 2017 stares you in the face, you’ll find yourself addressing a variety of financial related questions. From taxes to your budget, there is sure to be a lot on your mind. Below are five questions to ask your CPA at the beginning of 2017. By asking these, you can clear the air and ensure that you’re on the right path as the year begins: 1. Why did I overpay or...
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Frank
I always present my CPA with any material changes in my life (new house, marriage, etc.) and ask how can these help me pay less ta... Read More
Tuesday, 24 January 2017 17:02
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Have You Answered These End of Year Tax Questions?

Have You Answered These End of Year Tax Questions?
With the end of the year closing in, there’s no better time than now to review your tax situation. After all, the April 2017 filing deadline will be here before you know it. Although no two people face the same tax circumstances, here are some important questions everyone should answer: •    Do you need to consult with an accountant now or in the near future? •    Does it make sense to contribute more money to...
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Frank
-Do I know how much I made this year? -Has anything in my life materially changed from prior year? I may be able to take more dedu... Read More
Tuesday, 20 December 2016 11:57
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Taxes Due April 18th This Year

Taxes Due April 18th This Year
The IRS estimates that approximately 10 million taxpayers wait until the last days before the deadline and millions more will request an extension. If you haven't filed yet, you may be relieved to hear that this year tax returns are due on April 18th instead of the usual deadline of April 15th due to the observation of Emancipation Day. Residents of Maine and Massachusetts have until April 19th due to the observation of Patriot's Day....
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Frank
April 18th actually really helped me out this year. Time slipped away from me. on April 15th, I scrambled everything together and ... Read More
Sunday, 22 May 2016 17:37
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What will you do with that Tax Refund?

What will you do with that Tax Refund?
Most people agree that it feels better to receive a tax refund than it is to owe additional money to the IRS. If you learn that a refund is coming your way, it’s time to plan your next move. More specifically, what will you do with the money? You have the right to spend your tax refund however you want. But even with this flexibility, there are a few ideas that are better than others....
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Frank
I hope everybody’s answer is 1, 2, or 3. What I would not recommend is to spend it on discretionary spending. This money should no... Read More
Tuesday, 08 March 2016 09:25
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