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The Roth IRA offers yet another way to save for retirement. Annual contribution limits of $7,000 will apply ($8,000 if you’re 50 or older) across all IRA accounts in 2024, and income caps also limit who can contribute. That said, these accounts offer significant tax advantages for those who can use them as well as … Read more

Are you curious how your tax refund compares to the U.S. average? The IRS releases filing statistics at the end of each tax season. According to its statistics for the 2023 tax season—for the 2022 tax year—approximately 64% of tax returns filed and processed as of April 21, 2023 resulted in tax refunds. Here’s everything … Read more

Many taxpayers reduce their tax bills significantly by deducting common expenditures from their income. To use these deductions, you have to itemize them on IRS Schedule A instead of taking the standard deduction. As we’ll explain in detail below, itemizable deductions include medical and dental expenses, state and local taxes, interest expense, charitable contributions, and … Read more

Even if you’re not a tax expert, quality tax-preparation software can provide you with the confidence to prepare and file an accurate tax return. Tax-preparation software eliminates the need to perform complex tax calculations on your own, and it’s cheaper than hiring someone else to file your taxes for you. Here are the best tax-software … Read more

There’s no shortage of investing apps available today, which can make choosing one difficult. M1 Finance is one example, and it’s a solid contender among the competition. Our review covers the ins and outs of this investing platform so you can decide whether or not it’s the right one for you. What is M1 Finance? … Read more