Mary Lee Miller, EA, LLC

Everything You Need to Know About Buying a House

By Bola Sokunbi. Published on February 20, 2019. Updated on November 19, 2019 When it comes to financial and life goals, buying a house is probably pretty high on your list. But being able to purchase a home depends heavily on your finances being in good standing. That means you don’t want to have too much debt, but you DO need to have a good […]

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Filing Your Taxes Early: What You Need To Know

Dec 23, 2019, 09:20am Robert FarringtonSenior Contributor Personal Finance I write about personal finance, college and student loan debt. Ready to get your taxes squared away and get your hands on your refund (and maybe avoid getting a tax refund loan)? It’s possible you’ll make some progress early on, but you need to make sure you have all the required paperwork for your return before you […]

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Tax Tip 2019-170: Here’s how taxpayers can avoid the hooks of phishing scams

IRS Tax Tip 2019-170, December 4, 2019 Knowledge and awareness. Those two things can protect taxpayers and their family members from getting caught up in a phishing scam. A phishing scam is often an unsolicited email or a website that looks like a legitimate site designed to trick users. The scams convince people into providing personal and financial information. Scam emails can arrive to personal […]

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4 Costly Tax Mistakes to Avoid

Don’t end up making your tax bill worse than it already is. Christy Bieber (TMFChristyB) Nov 3, 2019 at 11:05AM Author Bio No one likes to pay taxes, and you definitely don’t want to pay more than you actually owe. Unfortunately, the tax code is really complicated in the United States, so it’s far too easy to make a costly mistake.Simple errors could cost hundreds […]

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The SEP IRA Rules, Benefits and a Lofty Contribution Limit

Do you want to save up to $56,000 a year for retirement? Are you self-employed or a small business owner? Do your eyes light up when you hear words like “tax-free growth” or “tax-deductible?” If you’re looking for additional ways to save for your future, are a high-earner, and are already maxing out your traditional and Roth IRAs, consider opening a Simplified Employee Pension (SEP) […]

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What Cash Businesses Can Do to Avoid IRS Audits

BY JEAN MURRAY Updated July 11, 2019 Cash businesses (those that take in mostly cash, such as restaurants, flea market vendors, beauty salons, and many others) are more likely to be audited by the IRS and have a particular problem when audited because it is difficult to verify income received in cash. It’s called the Tax Gap, the amount of money spent in the U.S. […]

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Is The IRS Targeting Crypto Investors? Yes. But Here’s How To Legally Trade Tax-Free

Joresa Blount Aug 26, 2019, 05:04am After Coinbase released data on over 14,000 users to the Internal Revenue Service in 2018, cryptocurrency traders have been bracing for what’s to come next regarding IRS enforcement, as reported by The Wall Street Journal. The first and second wave of that enforcement seems to have recently landed in thousands of mailboxes nationwide. IRS Letter 6174 is designed to […]

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You Can Change Your Domicile To Avoid State Taxes — But Is It Really Worth Doing So?

Rob Clarfeld Aug 20, 2019, 12:16pm It is the rare week when I don’t have a discussion with a client about changing their domicile to a state that doesn’t have an income tax. A very rare week. Since a significant percentage of our clients are from New York, New Jersey and Connecticut, this is not a new discussion for me. The New York area has […]

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How to Invest in Stocks: A Quick-Start Guide

We tell you everything you need to know to get started investing in stocks. Investing your money in the stock market can be intimidating, but it doesn’t have to be! The Motley Fool has been cutting through Wall Street jargon and giving people common-sense, actionable insights for over a quarter century. First, let’s help you choose your adventure. Are you more #1 or #2? “Just […]

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After a divorce, only one parent can claim child-related tax breaks

Aug 5, 2019 11:08 a.m. ET By BILL BISCHOFF To qualify, over half the child’s support for the year must be provided by one or both parents.  For tax purposes, a child is usually treated as “belonging” to the parent who has custody for the greater part of the year. Divorces cause tax issues, including which parent is allowed to claim valuable child-related tax breaks. […]

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