What Should You Do If You Miss Your Tax Deadline?
This year, the filing deadline has been moved from April 15th to May 17th. Even so, the busiest financial season of the year is upon us, and the deadline to file personal income taxes is just weeks away. With millions of Americans rushing to file a return, it is perhaps not surprising that some people […]
What Is a Tax Bracket?
Every new year begins with filing taxes. Based on your reported income, expenses, investments, and withholdings, the IRS determines whether you have sufficiently paid your share. If you’ve underpaid, then you’ll have to cover the difference and make a payment to the IRS. On the other hand, if you’ve overpaid, you’ll be entitled to a […]
How Can Claiming Dependents Help Lower Your Taxes?
Being a parent or primary provider for someone is a big responsibility. The time and energy spent caring for another human is a big commitment, and it can be incredibly costly to pay for another person’s living expenses. That’s why the IRS offers special tax benefits for those that have dependents. Parents are often eligible […]
6 Ways to Improve Your Credit Score
Concerned about applying for a loan? Worried about a lackluster credit score? Luckily, there are many different ways to improve your credit score. Having good credit is essential for making big life-changing purchases but building credit can be daunting. Fortunately, we’ve compiled a list of some of the easiest and most effective ways to build […]
What Happens to Credit Scores After Paying Off a Loan?
Paying off a loan is a wonderful feeling. After months or years of debt, paying off a loan can feel like a light at the end of the tunnel. However, there are some common misconceptions about the effects a paid-off debt has on a credit score. Many assume that when a debt is paid off, […]
Understanding 2020 U.S. Tax Brackets
The United States has a progressive tax system, meaning that the more you make, the higher percentage of your income will be taxed. As of 2020, there are seven tax brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Depending on how you file, there are different income thresholds for each percentage. Tax Brackets […]
