5 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 More2025 Financial To-Do List
In a few short hours, we will be ringing in the New Year! As you prepare to close the book in 2024 and look ahead to a fresh start in 2025, you undoubtedly have lots of goals and plans. Including your finances in your plans for the new year is important. Doing so can help…
Read MoreWhat is the Standard Deduction?
The standard deduction is the amount of income you get to deduct from your total taxable income. Because the standard deduction lowers your taxable income, it means you pay less income tax. In 2019, the standard deduction for someone filing as single is $12,200. For a Head of Household, the standard deduction is $18,350. And…
Read MoreHow Does Volunteer Income Tax Assistance (VITA) work?
Volunteer Income Tax Assistance (VITA) is a program of the IRS. VITA sites offer income tax preparation help free of charge for people who generally make less than $56,000 annually, people with disabilities, and those with difficulty speaking English. The program is also offered on military installations. The offices are run by volunteers who have…
Read MoreCan I file taxes if my income was only SS and SSI?
Submitted by Veronica C. Living on only social security income tells me that you are resourceful and doing a good job managing your money. (SS is the benefit that you pay into during your working years and SSI is supplemental income designed to provide additional support for specific situations.) This question is tricky because I’m…
Read MoreDo I Need to File a Tax Return?
Hi, I’m Kasey, and I’m a tax expert here with Intuit’s TurboTax. I’m here today to talk about some frequently asked questions that many taxpayers have. Do I need to file? Not everyone is required to file a tax return every year. Generally, if your income doesn’t exceed certain thresholds, you don’t even have to file a return. The…
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