Tax Posts

You're weeks away from being completely debt-free except for your mortgage. You've spent over a decade digging out. Now you want to set up automatic transfers to savings. But every time you check your checking account and see the balance drop, you…

Am I Filing My 1099s Correctly? A Guide for Business Owners and Contractors  If you hire contractors or work as one yourself, you need to understand W-9s and 1099s. You collected the W-9s, you filed the 1099s, and now you're wondering if you …

I got a question recently that stopped me cold. A listener wrote in about her 18-year-old sister. The sister earned nearly $50,000 last year. And their mother claimed her as a dependent on her taxes. Can Your Parents Claim You as a Dependent If Yo…

Financial challenges can feel overwhelming, especially when you've just managed to save up a small emergency fund and then suddenly need to wipe it out due to unexpected expenses like a car repair. If you find yourself in this situation, you're no…

Are you dreading tax season? Just the thought of preparing your taxes can bring on a tidal wave of anxiety, stirring up fears and concerns that settle in both your heart and mind. But what if there’s a better way to handle this annual ritual? Toda…

When your tax refund arrives, it can transform from money into a source of tension. You might desire stability, whereas your spouse might dream of a vacation. Balancing these opposing interests is crucial to making a smart decision that preserves …

Have you ever finished your taxes, expecting some relief in the form of a refund, only to discover that you owe the IRS a significant amount? It's a situation that can send your mind racing with questions and anxiety. Did you mess something up? Wh…

Navigating the decision to either file your taxes yourself or hire a professional can be daunting. For some, the path seems clear, while for others, it stirs feelings of anxiety and second-guessing. Are you wasting money on professional help, or a…

When it comes to taxes, terms like "deductions" and "credits" can seem daunting. They often cause confusion and can make people wish they'd just vanish. But don't worry, this blog post aims to turn that confusion into confidence. By the end of our…

Tax time can feel daunting, but the stress often stems from avoidable mistakes rather than the taxes themselves. Whether it's a missing form or a forgotten credit, these small errors can quickly spiral into an overwhelming situation. Today, we're …

For many, tax season heralds a sense of panic comparable to a looming thunderstorm. Stacks of paperwork seem to tower over us, each envelope containing potential surprises we’d rather avoid. But panic doesn’t have to be the narrative. With the rig…

In a world where the only constant seems to be change, taxes are no exception. Each year brings new adjustments to tax laws, and understanding these shifts can often feel more daunting than deciphering hieroglyphics. It's not surprising that taxes a…

I received a thought-provoking question from a listener that I couldn't wait to discuss: "Ralph, I've always thought investing was only for wealthy people. I don't have thousands of dollars lying around. Is there any way for someone like me to start…

In life, there are two certainties: death and taxes. For many, tax season is a time filled with dread and frustration. The forms, the receipts, the deadlines—just thinking about them can make you feel like the government is sitting in your back pock…

How Can Getting Organized Now Save Me Tax Season Stress? Let me ask you something. Does the thought of tax season fill you with dread? Sifting through mountains of scattered papers and missing receipts? What if you could transform that annual scram…

I'm Ralph, and today, we're diving deep into a topic that affects every single one of us: the new tax bill, recently signed into law by President Trump. Often called the "One Big Beautiful Bill," this isn't just another piece of political news; it's…

How Do I Save My Mom From My Dad’s $200,000 IRS Nightmare – And Should I Even Try? The weight of a significant tax debt can be immense, casting a shadow of worry and uncertainty over an entire family. When that debt reaches a staggering $200,000, a…

Can't Pay the IRS? How can you Avoid Major Penalties with These 4 Strategies? Facing financial difficulties can be a stressful experience, and when that includes owing money to the Internal Revenue Service, it can feel particularly overwhelming. Fo…

Is Cheap Advice Really Worth the Price? The human instinct to seek out the best deal is powerful. Whether it's comparing prices on everyday goods or searching for discounts on larger purchases, the desire to save money is often a primary motivator.…

What Is the Taxpayer Advocate and How Can They Help Me? Dealing with taxes can often feel like navigating a complex maze. Whether it’s understanding a confusing notice from the IRS, resolving a discrepancy, or facing a significant financial challen…

Are You Still on the Hook With the IRS? How Far Back Can They Claim You Owe? Do you ever lie awake at night, worried that the IRS might come knocking on your door, demanding payment for taxes from years ago? It's a common concern, and the thought o…

Confused About How Your Rental Property Affects Your Taxes? Owning rental property can be a great way to build wealth and generate income, but it's important to understand the tax implications. Rental income and expenses are treated differently tha…

Self-Employment Tax Got You Stressed? Learn Exactly What It Is and How to Pay Less Self-employment tax can feel like a burden, especially for those new to the world of freelancing or running their own businesses. But as the proverb says, "The wise …

Self-Filing Taxes: Are You Making These Painfully Common Errors That Could Land You in Trouble with the IRS? As Christians, we are called to be good stewards of our resources, and that includes being responsible with our taxes. This principle of st…