personal finance Archives | Crabb Tax Services

12 Budgeting Tips for New Parents

Crabb Tax Services — Tue, 29 Oct 2019 15:56:45 +0000

Middle-class families spend nearly $13,000 per child every year. Learn how to budget strategically.

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4 Strategies to Cut Your Taxes in Retirement

Crabb Tax Services — Mon, 21 Oct 2019 15:31:35 +0000

To help reduce your tax burden once you retire, and free up more money for expenses and fun, give income planning a try. Here are four ways to adjust your income and get a better grip on your tax bill.

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Be Like A Bank. Test Yourself To See How Your Finances Would Hold Up If Something Bad Happened

Crabb Tax Services — Sat, 12 Oct 2019 14:41:08 +0000

Is it crazy to compare yourself to a large financial institution? No. You both have a key thing in common: assets.The only real difference is that many more people depend on a big bank than on you.

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13 Advantages Of Keeping Personal And Business Bank Accounts Separate

Crabb Tax Services — Sun, 15 Sep 2019 22:11:48 +0000

Mixing one's funds with the proceeds of a business is a tempting prospect. For many solopreneurs, commingling allows them to have a much simpler time when banking. However, situations may arise where mixing business funds with personal funds can lead to a complicated mess. While the actual business of banking is easier, things like account-keeping, tax reporting and separating business expenses from private earnings become a nightmare.

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12 Small Business Tips from Podcasts Used by the Pros

Crabb Tax Services — Tue, 27 Aug 2019 20:55:50 +0000

Not all the advice that a budding business leader hears on a podcast will be particularly actionable or beneficial. There is, however, some very good information and perspectives out there. To help newer leaders be more aware of things they can and should do in regards to their business, we asked members of Young Entrepreneur Council (YEC) the following:

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Should Financial Success Be Your Ultimate End Goal?

Crabb Tax Services — Fri, 09 Aug 2019 17:48:02 +0000

Many studies point to the conclusion that wealth and happiness are not positively correlated...

Financial stress is the worst kind of stress, and with the continuing rising cost of living, many Americans are feeling the crunch of financial stress. Financial stress has been linked to health problems like depression and sleep disorders.

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Free Tax Return Preparation for Qualifying Taxpayers

Crabb Tax Services — Wed, 27 Mar 2019 00:14:47 +0000

The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $55,000 or less, persons with disabilities and limited English speaking taxpayers who need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation with electronic filing to qualified individuals.

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7 Red Flags That Could Trigger An IRS Audit Of Your Taxes

Crabb Tax Services — Tue, 19 Mar 2019 22:09:42 +0000

No one wants a visit from the Internal Revenue Service. But if you get too generous with your calculations, you may need to back up your tax return.

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Thinking of Paying for Long-Term Care From Your IRA? Think Again.

Crabb Tax Services — Tue, 19 Mar 2019 21:49:58 +0000

Chances are a big portion of your retirement savings are in pretax accounts like a 401(k) or IRA. If you need to tap those accounts for costly care, you must realize that every dollar is taxable. And you might be shocked at the tax rates that come with withdrawals large enough to foot the bill.

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IRS Reminds Taxpayers of Its Ability to Revoke Passports and Deny Passport Applications

Crabb Tax Services — Fri, 08 Mar 2019 00:13:58 +0000

What You Need to Do If You Plan to Travel Abroad and Have Unpaid Federal Taxes WRITTEN BY: Rosenberg Martin Greenberg LLP Last week, the Internal Revenue Service (“IRS”) published another friendly reminder that it was recently vested with the

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