Taxes

A major component of your overall expenses are the various taxes that you must pay. Paying taxes is a fact of life; however, it does not mean you should not be looking for way to reduce your taxes. Articles in this section will help you better understand various taxes and things that you could do to minimize your tax burden. Additionally, check out these related sections: budgeting, smart spending, and insurance and risk management.

Taxes is a subsection of expense management.

How to Claim Unclaimed Refunds

How to Claim Unclaimed Refunds

The IRS recently announced it has over $1 billion in unclaimed refunds from tax returns that were due three years ago. This is an annual problem in the United States as millions of taxpayers avoided filing […]

4 Quick and Easy Ways to Save on Your Taxes This Year

4 Quick and Easy Ways to Save on Your Taxes This Year

If you’re the type who dreads tax time each year, chances are you haven’t yet filed. Fortunately, this year, you have until April 17th to file your taxes or request an extension. Keep in mind, however, […]

What is a 1099-K and Why Did I Receive One?

What is a 1099-K and Why Did I Receive One?

This year many individuals are receiving an unexpected new tax form in the mail: the 1099-K. This is a new form that is causing a lot of confusion amongst tax payers. If you received one and […]

What are Refund Anticipation Loans?

What are Refund Anticipation Loans?

Tax preparation firms offer loans tied to the amount of your Federal or state tax refund so you can spend your refund as soon as your tax return is validated. These refund anticipation loans (RAL), also […]

Federal Income Tax Return Filing Requirements for Retirees

Federal Income Tax Return Filing Requirements for Retirees

Do retirees have to file a federal income tax return? You might think that the days spent filing income tax return each year is behind you once you retired; however, being retired doesn’t necessarily get you […]

How to Create 1099-MISC Forms and File Online with the IRS

How to Create 1099-MISC Forms and File Online with the IRS

If you hired contractors to perform work for you, you will have to create a 1099-MISC form for each contractor that you paid $600 or more to over the course of the year. These forms have […]

Should You Take a Deduction for the Business Use of Your Home?

Should You Take a Deduction for the Business Use of Your Home?

When you run a home business, there are a number of expenses that you take on yourself. Owning a business means that you take on some expenses, such as paying for your health insurance without help […]

What is the Alternative Minimum Tax and How Does It Work?

What is the Alternative Minimum Tax and How Does It Work?

What could be more stressful than figuring out your income tax? Discovering that you did not pay enough tax this year, and on top of that, many of your exemptions and deductions will no longer be […]

Home Mortgage Interest Deduction: How It Works and the Big Myth

Home Mortgage Interest Deduction: How It Works and the Big Myth

One of the benefits of buying a home is that you can deduct the mortgage interest you are paying on your loan. Since the inception of the income tax in 1913, the mortgage tax deduction is […]

3 Popular Education Tax Breaks: Which One Is Best?

3 Popular Education Tax Breaks: Which One Is Best?

Summer is coming to a close and back-to-school preparation is upon us. For parents of younger children, this shift often means the return to a peaceful lifestyle, free of the headaches associated with finding full-time childcare. […]

Disclaimer

The information on this site is strictly the author's opinion. It does NOT constitute financial, legal, or other advice of any kind. You should consult with a certified adviser for advice to your specific circumstances.

While we try to ensure that the information on this site is accurate at the time of publication, information about third party products and services do change without notice. Please visit the official site for up-to-date information.

For additional information, please review our legal disclaimers and privacy policy.

Notice

Moolanomy has affiliate relationships with some companies ("advertisers") and may be compensated if consumers choose to buy or subscribe to a product or service via our links. Our content is not provided or commissioned by our advertisers. Opinions expressed here are author's alone, not those of our advertisers, and have not been reviewed, approved or otherwise endorsed by our advertisers.