Taxes
Making these 5 money moves now can set you up for financial success in the new year
Cn0ra | Istock | Getty Images The end of the year is an important time for making financial decisions that can have an impact in the year ahead — and for years to come. From your work to your savings and investments to spending and giving back, here are five moves you should consider making […]
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What the pro-business tax agenda is chasing in a changing Congress
Sunrise hits the U.S. Capitol dome on September 30, 2021 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images Main Street could find itself stuck in gridlock next year in terms of advancing pro-business tax objectives. For House Republicans, legislative priorities are likely to include extending business-friendly provisions of The Tax Cuts […]
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You may get a 1099-K for Venmo and PayPal payments. Here’s how to prepare — and shrink your tax bill
Charday Penn | E+ | Getty Images If you’ve accepted payments via apps such as Venmo or PayPal in 2022, you may receive Form 1099-K, which reports income from third-party networks, in early 2023. But there’s still time to reduce your tax liability, according to financial experts. “There’s no change to the taxability of income,” […]
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This tax strategy may offset losses – but traders want to act now or be in for a ‘nasty surprise’
ETF Edge This tax tactic may perhaps offset losses – but buyers require to act now or be in for a ‘nasty surprise’ Revealed Solar, Dec 4 202211:00 AM EST Noah Sheidlower@NSheidlower Watch Live Supply
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The IRS reminds Americans earning over $600 on PayPal, Venmo, or Cash App transactions to report their earnings
If you use third-party payment platforms, like PayPal, Venmo or Cash App, to collect payments for your side gig or business, the Internal Revenue Service (IRS) wants to remind you to report payments of at least $600. This rule is aimed at individuals who run a side hustle, small business or do part-time work. So […]
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Tax ‘refunds may be smaller in 2023,’ warns IRS. Here’s why
If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS. Typically, you get a federal refund when you’ve overpaid yearly taxes or withheld more than the amount you owe. Your annual balance is based on taxable income, calculated by subtracting the greater of the standard […]
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If you’re still missing your tax refund, you’ll soon receive 7% interest from the IRS — but it’s taxable
Bill Oxford | E+ | Getty Images If your tax refund is still in limbo, there’s good news: Your balance may be accruing interest, and the rate increases to 7% from 6% on Jan. 1, according to the IRS. As of Nov. 18, there were 3.4 million unprocessed individual returns received in 2022, including filings […]
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‘Wild ride’: Morgan Stanley’s Mike Wilson predicts double-digit proportion fall will strike stocks in early 2023
Rapid Funds ‘Wild ride’: Morgan Stanley’s Mike Wilson predicts double-digit share drop will strike stocks in early 2023 Published Tue, Nov 29 20228:01 PM EST Stephanie Landsman@stephlandsman Observe Dwell Resource
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3 lesser-known ways to trim your 2022 tax bill or boost your refund before year-end
Charles Taylor | Getty Images 1. If your income is higher in 2022, defer your bonus into 2023 If you’ve had a strong year and expect lower earnings in 2023, you may try to defer a holiday bonus until the new year, experts say. “It’s always exciting to reap the rewards of hard work by […]
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Here are 4 ways to take advantage of your health-care expenses before the end of the year
ronnachaipark | iStock | Getty Images Health-care expenses can often be unpredictable and unwelcome. However, depending on your situation, there may be strategies you can employ that make those outlays a bit less financially painful. Because some of them involve taxes, experts say they shouldn’t be viewed in a vacuum. In other words, you may […]
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