Posts by Amanda Dixon
Taxes
What You Need to Know About Inheritance Tax
There comes a time in all of our lives when we have to say goodbye to a family member or friend. If you were close with the person who passed away, you might discover that they’ve left you something in… Read more…
Taxes
How Many Allowances Should You Claim?
Prior to 2020, one of the biggest things you could do to affect the size of your paycheck was to adjust the number of allowances claimed on your W-4. The ideal number of allowances for you would depend on your individual… Read more…
Mortgage
Determining How Much You Should Charge for Rent
Renting out your house might be worth considering, especially if you’re ready to relocate and you’re opposed to selling. Picking up a tenant could help you pay off your mortgage more quickly. Then, you could put the money you’ve earned toward… Read more…
Taxes
How to Fill Out Your W-4 Form? Answers to FAQ About the W-4
If you’re filling out a Form W-4, you probably just started a new job. Or maybe you recently got married or had a baby. The W-4, also called the Employee’s Withholding Certificate, tells your employer how much federal income tax… Read more…
Taxes
Tax Breaks You Can Claim Without Itemizing
When you file a federal income tax return, you have the choice between taking the standard deduction and itemizing your deductions. But after the 2017 Trump tax changes, which nearly doubled the standard deduction, many taxpayers who lowered their tax bill by… Read more…
Taxes
All About Tax Credits
If you were unhappy with last year’s income tax bill, there are several ways to reduce your overall 2022 tax burden before the April 18, 2023, filing deadline arrives. You can try to qualify for as many tax deductions and… Read more…
Taxes
What Is the Earned Income Tax Credit (EITC)?
The Earned Income Tax Credit (EITC) reduces tax bills for low-to-moderate-income working families. It’s a tax credit that ranges from $560 to $6,935 for the 2022 tax year depending on your filing status, number of children and earned income. Taxpayers… Read more…
Retirement
Vested: What It Means for Your Retirement Plan
While your contributions to your retirement plan belong to you from the get-go, your employer’s contributions need to vest first. Employers may follow an immediate vesting schedule, a cliff vesting schedule (where you are vested after a set number of years… Read more…
Mortgage
What Is Mortgage Fraud?
Mortgage fraud occurs when a potential homebuyer or mortgage lender provides false information or omits certain details in order to complete a mortgage transaction. As a homebuyer, you may encounter predatory lenders who want to scam you. And if you’re… Read more…
Mortgage
What Is a Short Sale?
A short sale occurs when you sell your home for less than what you still owe on your mortgage. It can prevent you from seeing your home foreclosed and undergoing bankruptcy. However, your mortgage lender must approve the short sale.… Read more…