Many Americans don’t have to worry about giving Uncle Sam part of their hard-earned cash for their income taxes this year. An estimated 45.3% of American households — roughly 77.5 million — will pay no federal individual income tax. To learn why, click here.
April brings showers, flowers…and taxes! You have a little over a month to go before the tax filing deadline, and if you’re in need of motivation, we have 10 money-saving tax deductions (and credits) to keep in mind.
Millions of taxpayers overpay their taxes every year by overlooking just one of the money-saving tax breaks listed here.
Getting a big tax refund feels good, but it means you essentially gave the government an interest-free loan. If we hate paying taxes, then why do we consistently overpay them, collectively lending Uncle Sam some $300 billion year after year—interest free?
Read more here:
How will the Trump tax plan change YOUR taxes? Will the GOP tax plan lower your taxes or raise them? The House and Senate are expected to pass the final version of the tax bill this week, but polling shows that most Americans don’t expect the bill to benefit them. With this calculator, find out if that’s the case. The calculator doesn’t incorporate every provision of the new tax code, but enough to make an educated guess.
Click below to get a simple estimate of your tax cut or hike.
Reducing your taxable income is one of the most effective ways to lower your taxes, with some moves doing double duty as both deductions themselves and as a means to slide under income thresholds at which other taxes would kick in.
While it’s late in the year now, there’s still time to take steps that will lower the amount of income you must report on your tax return.
Take a look here.
Horizons Wealth Management provides Fee-Only financial services customized to meet each client’s unique needs. The result is unbiased financial advice from professionals who are committed to acting as a fiduciary in a client-centered relationship. We analyze all aspects of your finances to design a roadmap to help you reach your financial goals and provide you with peace of mind.