Taxes

April 18, 2020

I haven’t filed my taxes in recent years. Can I still receive a stimulus check?

The U.S. government has just started disbursing the stimulus checks it promised to millions of Americans. Questions still linger for many, including whether they need to submit new information in order to get that money. The government will calculate the amount of money you receive based on your adjusted gross income on your 2019 tax…

April 16, 2020

Guide to Filing Taxes as an Independent Contractor

New to being an independent contractor? Here’s what you need to know about taxes. Being an independent contractor or gig worker comes with more flexibility. It also comes with new tax responsibilities. At a high level, the IRS considers you an independent contractor, and therefore self-employed. You are paid for the result of your work,…

March 17, 2020

Free Tax Preparation is Still Available

You may have been planning to get assistance with your free tax preparation at a Volunteer Income Tax Assistance (VITA) location near you. Unfortunately, to protect the public and volunteers from COVID-19, many VITAs have had to close their in-person tax preparation sites. We know that a tax refund can be a big deal, especially now. We…

March 15, 2020

Do I need to file a tax return if my only income is Social Security?

Submitted by anonymous. That’s a great question, as many Americans’ only source of income is Social Security. Social Security income is taxed for federal and state income tax purposes. If your earned income exceeds IRS 2019 filing guidelines,...

March 28, 2020

Should I itemize my deductions or take the standard deduction?

The goal of deductions is to lower the amount of taxable income the IRS will use when calculating the amount of tax you owe. The decision of whether to itemize your deductions or take the standard deduction comes down to one question. Which deducti...