Probably the last thing you want to think about when you’ve just filed your taxes for 2020 is your 2021 taxes. Even if your prep for the past tax year went well, it’s nice to not worry about taxes for a while. But as the overused cliché goes, income tax preparation should be a marathon, not a sprint. It’s something you should be thinking about and planning for year-round.
Now is the perfect time to start, while this past year s tax issues are still fresh in your mind. After all, your current financial activities will impact your returns next spring. And you want them to have the right kind of impact, if possible. Note that if you
While tax day is usually on April 15, due to the COVID-19 pandemic, the federal (and some state) filing deadlines were changed to May 17, 2021. That means the filing due date is almost here and if you haven’t submitted your taxes yet, you need to take action. If you aren’t sure what you need to handle, here’s what you should do to make sure you meet the tax deadline.
Tackle Your Federal (and State) Returns
If you have everything you need to file, submit your federal and state tax returns by May 17, 2021. Filing a return late comes with some serious penalties, even if you are only a bit behind the deadline.
12 Retirement Plans for a Financially Secure Future
Use this guide to select the right retirement plan for your nest egg.
Editor s Note: This story originally appeared on SmartAsset.com.
Having one or more retirement accounts can help you realize your long-term financial goals, including growing wealth and securing a comfortable retirement. Workplace plans, individual retirement accounts and self-employed retirement accounts are just some of the ways you can save. With so many options to choose from, you may be wondering where to put your money. Reviewing the best retirement plans for 2021 can help with deciding how to invest for the future. Another big help with retirement planning is working with a financial adviser experienced in this area.
Self-Employed? You Better Use These 5 Tax Cutting Tricks.
Being your own boss has its ups and downs, but here are five things to make it that much better.
There are countless pros and cons to being self-employed and being able to “be your own boss.” While cons can include uncertainty in cash flow and often times longer hours, there are plenty of pros – especially at tax time. Many self-employed individuals may end up owing taxes at the end of the year, which could be seen as a con, there are pros in terms of tax write-offs on the other side.
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