gmcnutt's blog

If you’re worried about identity theft, you’re in good company. More than ⅔ of U.S. adults responding to a 2018 survey by Harris Poll and NerdWallet said they were increasingly concerned about the security of their financial information online. According to the same survey, fewer than half believe that credit reporting agencies or the U.S. government are doing enough to protect their financial information, and just 51% said banks were doing enough.

What is a Bankruptcy Petition, what are the most common types of Bankruptcy and what happens once your case is filed with the Bankruptcy Court?

The Internal Revenue Service (IRS) has announced the tax year 2019 annual inflation adjustments including the tax rate schedules, income brackets, and many other tax changes. Please remember the tax year 2019 adjustments are used on tax returns filed in April 2020.

Unfortunately, data thieves don’t take a break during the Holidays. In fact, that is when they increase in bogus email schemes that seek to steal your hard-earned money or personal information.

Individual Retirement Arrangements, better known as IRAs, are accounts into which someone can deposit money to provide financial security when they retire.

What Are the Different Types of IRAs?

There are different types of IRAs and a list and their attributes are listed as follows:

If you filed for an Extension of time to file your 2017 Federal Tax Return, you have until October 15, 2018 to submit your return.

The answer to the question is, more than likely you will qualify to exclude from your income all or part of any gain from the sale of your home. Consider the below items when selling a home:

Taxes must be paid as you earn or receive income during the year. Chances are if you receive a regular paycheck (either weekly, bi-weekly, semi-monthly or monthly) from an employer, your taxes are being withheld from that check. You need to make sure the amount being deducted is correct so you don’t owe taxes at the end of the year.

First of all I would advise that you should always keep a copy in a safe obvious location within your home or apartment of your filed tax return. Please review my previous blog "How Long Should I Keep My Income Tax Records?" which details how long it is advised to keep your returns.