Taxes Resources & Guides

Is Short-Term Disability Taxable? Full Guide & Tips Inside

Short-term disability (STD) insurance provides financial assistance to those who are temporarily unable to work due to an illness, injury, medical condition, or even childbirth. These payments can be a huge benefit to workers who must miss work for a while. Private insurance companies provide short-term disability insurance, and it should not be confused with Read more…

What Is Medicare Tax? | Find Out If You Have To Pay

If you earn a paycheck, you have likely seen several FICA taxes withheld from your earnings. Even for those who are self-employed, you are still required to pay these income taxes to the IRS. However, what are all these taxes? There is the Social Security tax, Medicare tax, and other payroll taxes that you are Read more…

Can You Pay Taxes With A Credit Card? | Full 2022 Guide

Tax season can be stressful for many individuals. While many people look forward to getting a tax refund when they file their tax returns, some people are stuck paying a big tax bill at the end of the year. If you owe the IRS money, that money is due by the April 15 tax deadline Read more…

38 States That Don’t Tax Social Security | Full List Inside

Retirees are always looking for ways to maximize their retirement income, and avoiding income tax is an excellent strategy for doing so. Depending on your total taxable income, your Social Security benefits might be taxed at the Federal level no matter which state you live in. However, choosing to live in a state that does Read more…

Social Security Tax Deferral | 2022 Guide Inside

  Most people are familiar with the 6.2% Social Security tax that is withheld from each of their paychecks. During the Coronavirus pandemic, the Federal government was looking at many different ways to help Americans who were struggling financially. One method that was utilized was a payroll tax deferral that allowed employers to defer the Read more…

Deferred Tax Liability: What Is It & How Does It Work? | Full Guide

Income taxes can sometimes be confusing, and a deferred tax liability is one of those confusing situations. Have you ever heard of owing a tax now, but legally not being required to pay it until later? Since the tax laws and accounting rules sometimes follow different timetables, this situation happens more than you might realize. Read more…

How Long To Keep Tax Returns // Full Guide Inside

Are you wondering how long to keep tax records? Do you have a pile of old tax records sitting in your home just taking up space and collecting dust? Most taxpayers know that they need to keep these old tax returns, but many are unsure just how long they need to keep them. Many end Read more…

Do I Have To File Taxes? | [Full Guide Inside]

Many people think that they will need to file an income tax return when tax time rolls around regardless of how much money they made. That is simply not true! Whether or not you need to file a return is based on your gross income and filing status for the year, but you might be Read more…