Filing your taxes can be, well taxing, so it’s best to be as prepared as possible before the deadline. While it is true that most money-saving options to defer income or accelerate deductions are limited after Dec. 31, there are still many steps you can take to make your tax-filing experience less expensive and easier. Turbo Tax urges people to file their taxes before April 18, 2023, to avoid late fees. If you need more time to finish filing, make…
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The short answer? Yes. Although it’s tempting to believe you can run a business on your own, it’s usually a good idea to get professional help. Running your own business is challenging enough without trying to handle your company’s tax planning and reporting. Most business owners would agree that hiring an accountant is a good investment. Accountants can work with you and your financial officer or controller to keep your business financially sound. Some areas that accountants can help you…
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Every year, the middle of April marks the end of the federal tax return filing season. For many Americans, that can mean seemingly endless forms, paystubs, and other paperwork. However, tax time can also be a unique opportunity for saving for your future! You can maximize tax time in three easy ways and have your tax refund work for you. Put your refund into a saving account For people claiming some of the unique tax credits that benefit hardworking families…
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In a 2019 Ohio Credit Union League consumer survey, the majority of respondents, 62 percent, know how much they pay in income taxes each year. But 38 percent of respondents admitted they haven’t been paying attention. There’s no doubt taxes can be convoluted. A recent NerdWallet study found that almost half (48 percent) of Americans don’t know in which tax bracket they belong. In fact, the study found that about 1 in 14 Americans don’t understand how tax brackets work….
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