Federal tax laws are so complicated that most people outsource tax preparation and have little understanding of how it all works. Do you know how your taxes are calculated? Or the difference between a credit and a deduction? It’s your hard-earned money and your government, so you really should.
Taxes are a huge part of our lives as American citizens. However, there’s a lot of confusion when it comes to taxes. After all, the Federal Tax Code has about 3 million more words than the Bible. There are a lot of myths floating around regarding taxes, and it can be hard to separate fact from fiction. Here are some common beliefs regarding taxes and the truth behind them:
Both President-Elect Donald Trump and Republicans from the House of Representatives have drafted tax reform proposals. What are the chances of tax reform passing in 2017 and how would it affect you?
Right now is open enrollment for Obamacare. Learn how to get help paying premiums, the consequences of not enrolling, and whether or not it is even going to be around next year.