W-2s, 1099s…and Now 1095-A – Are you prepared for this new IRS Form?
W-2s, 1099s…and Now 1095-A – Are you prepared for this new IRS Form? If you use the Healthcare Marketplace to purchase your health insurance there is a new tax form required to file your tax return. Form 1095-A will be sent to you as a recap of your health insurance activity. Here is what you need to know.
I Need a Copy of My Tax Return
I Need a Copy of My Tax Return Retaining copies of your federal tax return is important. Not only will you need the return in case of audit, but the tax return is often used to secure student aid, obtain loans, purchase a home or business, plus much more. What can you do if you cannot find a copy of your tax return?
Surprise! The Mutual Fund Tax Trap
Surprise! The Mutual Fund Tax Trap Year end moves by mutual fund managers often causes tax obligations for their fund owners. These surprises come in the form of 1099 DIV and 1099 B forms. Here are some ideas to help manage the problem.
Reducing the Savings Account Tax Burden
Reducing the Savings Account Tax Burden Building a traditional savings account is a tax burdened activity. First you must pay income taxes to the Federal and State government. Each year your interest earned is then taxed at the same rate as your wages. Is there anything you can do to reduce this dual tax burden?