The federal government offers some major tax breaks for older Americans. Some of these perks deserve more publicity than they receive.
Do you freelance or run a business on the side? You have a complicated tax situation, all stemming from one fact – when you earn a paycheck, taxes are not immediately taken out of it.
Instead of just spending the money, you could plan to pay yourself. About 70% of taxpayers receive sizable refunds from the Internal Revenue Service. Just how sizable? The average refund totals about $2,800.1
Ninety-five percent of married couples file joint federal tax returns. Filing jointly can be convenient. Frequently, there’s a financial advantage, but that does not mean it should be done without consideration.