Direct File vs. Free File: What’s the Difference?
Filing your taxes can feel complicated (and expensive), but there are several free options to help make the process easier. In this video, we’ll break down the differences between the IRS Direct File tool and other free filing options. Does Direct File sound like a good fit for you? Easily check your eligibility at https://directfile.irs.gov/.…
Read MoreSave Money This Tax Season: The Latest on Direct File
Life offers few certainties, and taxes are undoubtedly one of them—a reality that can feel daunting for many. Tax season often brings a sense of stress and frustration. However, there’s some good news on the horizon this year: the expansion of IRS Direct File. Direct File is a promising step toward simplifying taxes and making…
Read More5 Things to Consider Before Taking a Refund Anticipation Loan (RAL)
Tax season can bring a mix of emotions, especially when financial pressures are high. Many people face bills, unexpected expenses, or the need for a quick cash infusion, and the promise of a tax refund can seem like the solution. Refund anticipation loans (RALs) sound appealing because they offer faster access to your tax refund.…
Read MoreNavigating Property Taxes: A Guide to Relief and Abatement
Recently purchased a home? Congratulations! Many SaverLife members have shared that this is a major step to achieving lasting financial health and well-being. As you start mapping out mortgage payments and planning for home expenses, it’s important to understand the ins and outs of property taxes. Read on to learn more about navigating property taxes…
Read MoreUnderstanding the Self-Employment Tax Implications for Family Caregivers
Are you providing regular care to a family member or friend? If you’re receiving compensation for your services, it’s important to track your income. Caregiving, even for a loved one, could be considered self-employment and change how you file your taxes. There are different scenarios in caregiving situations that will determine if you, as a…
Read MoreSelf-Employment Taxes: What You Need to Know and How to Stay on Top of Them with Confidence
Being your own boss comes with many benefits, like greater flexibility, freedom, and control over your work. However, when it comes to taxes, being self-employed can feel like a whole new ballgame. Navigating the process of self-employment taxes, including what they are, who needs to pay them, and when they’re due, can be tricky and…
Read MoreDecoding the IRS’s New Direct File Pilot Program — What it could mean for you
We know from talking to SaverLife members that the tax filing process could be improved, particularly by including more free filing options for simple returns. That’s why we’re encouraged by the recent announcement from the IRS that it just launched an electronic filing pilot program called Direct File this tax season. An important caveat to…
Read MoreHome Energy Tax Credits and Rebates That Can Save You Money
Did you know the IRS offers credits and rebates for improving the energy efficiency of your home? That means you could reduce the income tax you owe and maybe even qualify for a 50-100% rebate for energy-efficient improvements to your home. Residential Clean Energy Credit What expenses qualify? Expenses that may qualify include central air…
Read More2024 Tax Time Guide
This tax season, we want to make sure you receive every dollar you deserve. That’s why we’re sharing tax filing resources that are 100% FREE. Browse our guide to master tax time and make it your bonus season. Pro Tip: Bookmark this guide and check back to find new resources throughout tax season. Tax Time…
Read MoreTax Scam Alert: Disaster Relief & the Employee Retention Credit
With taxes come tax scams, and it’s important to stay informed on what these scams look like so you can protect yourself. Two of the biggest tax scams from 2023 that continue to impact taxpayers are disaster tax relief and the Employee Retention Credit (ERC), a COVID pandemic-related tax credit. Disaster Tax Relief Tax relief is…
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