A cheat sheet on the taxes, breaks and business deductions that apply to workers who get 1099s By Ashlea Ebeling Taking on a gig job means taking on new tax responsibilities. You might not think you’re in business, but if you’re reselling items online, tutoring or pet sitting, for example, the money you make is generally…

Whether the deduction limit is raised, eliminated or extended, there are steps taxpayers can take to minimize their tax burden By Debbie Carlson As Congress debates tax policy this year, the state and local tax-deduction cap is in the crosshairs. The SALT deduction cap is set to expire at year’s end, along with a host of…

By Laura Saunders By Laura Saunders The U.S. tax code has many provisions that are adjusted for inflation and some that aren’t. Here’s a selection of key numbers to help with tax planning for 2025 and tax prep for 2024, plus useful references. Some of these might change depending on what Congress does later this year. For…

Recently, federal government employees received an email asking them to reflect on their work by listing five things they accomplished in the past week. The idea behind this exercise was to encourage employees to recognize their contributions, stay focused on their goals, and maintain accountability. This got me thinking: What if we applied the same…

By Laura Saunders from WSJ Sometimes in an emergency you just have to break the glass. While tapping a retirement plan for an early withdrawal should always be a last resort, it can be unavoidable. The cause could be a job loss, a natural disaster like a wildfire, or even an opportunity like a coveted house…

Here are eight things to keep in mind as you prepare to file your 2024 taxes. 1. Income tax brackets shifted a bit There are still seven tax rates, but the income ranges (tax brackets) for each rate have shifted slightly to account for inflation. For 2024, the following rates and income ranges apply: 2. The…