An “Innocent Spouse” May Be Able to Escape Tax Liability
When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s combined income. Therefore, the [...]
The Next Estimated Tax Deadline is January 15 If You Have To Make A Payment
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The [...]
Employees: Don’t Forget About Your FSA Funds
Many employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible spending arrangements (FSAs). As the end of 2020 nears, [...]
Using Your 401(k) Plan to Save This Year and Next
You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a [...]