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taxes

The Marriage Penalty, Explained

Jul 3 2008 - 3:31pm by SavvySugar
312 Views - 4 comments
The Marriage Penalty, Explained We can't expect everything to be roses when two become one, and taxes after marriage can be surprisingly complicated (not that taxes are ever a simple cup of tea). Combining two salaries means you have a bigger pot to brew, but it could also mean that you end up paying more taxes as a married couple than when you both were single. Or it could mean less taxes.
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Tax Breaks For 20-Somethings

May 21 2008 - 8:18am by SavvySugar
679 Views - 7 comments
Tax Breaks For 20-Somethings Graduating from college comes with a slew of mixed emotions and a world of opportunities, including some that may not have crossed your mind. Kiplinger's June 2008 issue recognizes that tax breaks aren't part of most students' college curriculum and rounded up all the tax breaks it could think of for newly graduated 20-somethings.
  • Moving expenses: New grads can deduct the cost of moving themselves and their belongings to their first job out of school, as long as the job is at least 50 miles from their old residence.
  • Saver's credit: Depending on their income, some young adults can trim their tax bill by up to $1,000 as a reward for contributing to an IRA, 401(k) or other retirement plan.
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How the CA Gay Marriage Ruling Affects Benefits and Taxes

May 19 2008 - 6:43am by SavvySugar
479 Views - 5 comments
How the CA Gay Marriage Ruling Affects Benefits and Taxes Some of the biggest domestic news last week was the announcement that California's Supreme Court overturned the ban on gay marriage. The ruling means that same sex couples will be able to obtain California marriage licenses and will be treated with the same state rights as heterosexual couples. In terms of benefits and taxes, CA has already been more inclusive of same sex couples than other states, and to find out exactly how the new ruling will affect these areas just read more Because gay marriages won't be recognized by the federal government, certain rights will still be withheld from same sex couples that choose to tie the knot.
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Rebate Check Less Than You Expected? Here's Why

May 12 2008 - 9:59am by SavvySugar
16,499 Views - 26 comments
Rebate Check Less Than You Expected? Here's Why The IRS continues to update their FAQs about the stimulus checks and has now stated that If you owe federal taxes from previous tax years or have other debts you owe such as a student loan or child support, those uncollected amounts can be taken from your rebate check. According to the IRS, everyone eligible for a check will receive a notice shortly after your payment has been issued that explains how your payment was calculated. If you're someone whose payment was reduced to offset back taxes or other debts, you'll receive a separate notice from the IRS a couple of weeks after you've gotten your rebate check and first notice.
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More Rebate Check Details

May 6 2008 - 4:24am by SavvySugar
1,908 Views - 21 comments
More Rebate Check Details TeamSugar member frevirg pointed out one aspect of the rebate check schedule that I hadn't yet highlighted. While I paid for my tax service as soon as my tax return was filed and used my bank account, some tax services allow filers the option of having those fees taken directly from their tax refund. Frevirg was proactive and navigated around the TurboTax website, and found the following information that may be useful to some of you.
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