How to Donate Your Money Sensibly


When finances are tight, it can be hard to designate some cash to give away. But even the Grinch-iest and Scrooge-iest among us can be moved to donate during the holiday season. In fact, the Tuesday after Black Friday was recently called “Giving Tuesday” to get everyone in the spirit. Whether you plan to toss […]

Taxes and Unemployment; How to Avoid Surprises and Owe Less Tax


Did you know that unemployment benefits are subject to income tax? It comes as a surprise to many people. But don’t fret too much because there are also special tax breaks for the unemployed, such as job search deductions and the earned income credit.

Special Tax Situations: Audits, Extensions, Payment Plans, and Quarterly Payments

Special Tax Situations- Audits, Extensions, Payment Plans, and Quarterly Payments

This is the last in Money Under 30’s six part “No-Stress Guide To Filing Your Taxes”. Here we discuss some special situations. We are looking at audits, extensions, payment plans, and quarterly taxes for the self-employed.

Need a Tax Break? Here’s a List

Need a Tax Break- Here's a List

This is part five of Money Under 30’s six part “No-Stress Guide To Filing Your Taxes”. A big topic on everyone’s mind while filing taxes is deductions! Deductions lower your tax liability so you sure don’t want to miss one. Here’s a list and explanation of common tax deductions.

Common Tax Schedules: The No-Stress Guide To Filing Your Taxes, Part 4

Common Tax Schedules- The No-Stress Guide To Filing Your Taxes, Part 4

This is part four of Money Under 30’s six part “No-Stress Guide To Filing Your Taxes”. Tax schedules are basically supporting documentation to your tax return. They are used to claim additional deductions such as mortgage interest or a loss on a business. This is good stuff to understand as your tax return gets more complex.

Tax Return Preparation Options: Calculator, Computer, or CPA?

Tax Return Preparation Options- Calculator, Computer, or CPA-

This is part two of Money Under 30’s six step “No-Stress Guide To Filing Your Taxes”. Once you have your required forms and documents you can decide which option is best for preparing your taxes. While filing by hand is free, tax software is easier. A professional is expensive but might give you the peace of mind you need.

My Three Best Tax Filing Tips

My Three Best Tax Filing Tips

Tax time is stressful for a lot of us. The best things you can do to reduce the stress is to start early, get and stay organized, and pay what you owe when you owe it. Facing taxes head on is much easier in the long run.

Two More Years of Tax Cuts (Here’s What The Extension Means For You)

The recent Congressional debate on whether to extend Bush-era tax cuts was long and drawn out, but it looks like our government may have finally reached a compromise, conclusion, agreement—whatever you’d like to call it—for now, anyway. But how do these tax cuts REALLY affect you? Since many of the tax cuts are extensions (not […]

Self-Employed? Need to Deduct Big Ticket Items? Get Crackin’ with the Section 179 Deduction

If you’re self-employed or a business owner and you haven’t heard of the Section 179 deduction, it’s time to get familiar with it, because the Small Business Jobs and Credits Act of 2010 has increased the thresholds on this valuable tax deduction for 2010 and 2011. What is the Section 179 deduction? The Section 179 […]

Side Income: Is It a Hobby or a Business?

Side Income- Is It a Hobby or a Business-

It’s a wonderful thing if your hobby starts making money, but at what point does it turn into an actual business? The IRS states that it turns into a business when you start trying to earn money. From a tax standpoint, the main difference between a hobby and business is being able to deduct losses.