should you open a Roth IRA for your child

Article Summary Roth IRAs are designed for investors with low incomes and long-term horizons, which makes them perfect for children. Find out what a custodial Roth IRA is, how to open one, and why your kid should have one. Yes. If you have kids who earn income — more on what counts as income below […]

How to get free tax help

How to Get Free Tax Help

Article Summary Tax preparation can be expensive, but it’s available for free if you know where to look. The IRS Free File program, for example, is a great option, but it’s by no means the only way to get free tax help. Filing income tax returns used to mean laboring over paper forms, boxes of receipts, […]

how to avoid a wage garnishment

Unfortunately, getting a wage garnishment for tax debt is more common than you might think. In 2020, the IRS requested over 780,000 notices of levy on third parties, which includes garnishing wages from employers. The IRS has up to 10 years from the date taxes were assessed to collect them — even longer if there […]

what is direct deposit

Regardless of where you work or how you get paid, it is almost always easier to get paid digitally and automatically than waiting on a paper paycheck. You might be wondering if there is a better way out there for an employee to get paid. That is where direct deposits come in handy. Setting up […]

Robinhood is putting a new spin on the legendary heroic outlaw. Instead of stealing from the rich and giving to the poor, it seems to be restricting the poor to protect the rich. As attractive as anti-heroes are in pop culture, the new look isn’t working for Robinhood. Robinhood decided to temporarily halt the trading […]

Woman researches whether you can remove student loans from your credit report

Tax liens are the nuclear option in the IRS’s arsenal. They can affect all your property, including your home and vehicles. Even financial assets and businesses that you might own are not safe. Also, they can attach to assets that you buy once the IRS issues the demand for payment. The good news is that […]

smart money moves

It would be great if we were all discovered we had a bottomless trust fund to our name and no longer had to worry about money. But that’s unlikely. The good news is there’s plenty you can do to make things better. Here are 11 things you can do today to give your finances a […]

How to hire a Tax attorney

As the saying goes, “Two things in life are certain; death and taxes.” And while the similarities between death and taxes do not end there, understanding the latter can make it a lot less frightening than the former. One question worth asking is what are the rules when it comes to privileged conversations. Is what […]

IRS AUDIT TIPS

Just the thought of an “IRS audit” is enough to strike fear in the heart of any taxpayer. Everybody knows someone with a story about an audit from hell from an over-zealous collections officer. Audits can be an effective bogeyman to “encourage” people to be truthful in their tax returns, but what are the odds […]

Gamification of Finance

Gamification may be a modern buzzword in business these days, but there’s nothing new about the idea that we learn from play. “Play so that you may be serious.” – Anacharsis 6th BCE From team sports to puzzles and video games, people love games. By applying game mechanics to boring or stressful activities, they can […]