Additional Common Questions

What do I do if I overcontribute to my Roth IRA?

It's really easy to get a Roth IRA started, but unfortunately, there aren't a lot of guardrails in place to prevent you from contributing too much. Here's what we mean by overcontributing and how to resolve it.

Retirement Plan Overview

There are some amazing resources out there about what to invest in and how to invest, but the thing that's not always clear is what the tax implications are for retirement accounts. We'll break down some of the basics below.

What percentage of my income do I pay in taxes?

While it is true that “the more you earn, the more you pay,” and it is possible that you’ll pay a higher percentage of your income taxes if you make more money, like most things related to the IRS, the story isn't so simple…

Do I have to pay taxes when I receive unemployment?

Generally, yes, you will pay federal taxes on any unemployment you receive. Depending on where you live, you may owe state taxes as well.

How do I find my 1095-A tax form?

If you had “Obamacare” or marketplace health insurance from HealthCare.gov or a state exchange, we will have to have this form in order to file your taxes. Below are instructions for how to locate this form.

If I have marketplace health insurance and my income has changed, what should I do?

Keep your estimated income updated with HealthCare.gov in order to have the best outcome on your tax return, especially if you are making more than expected and receiving a subsidy.

How does moving impact my taxes?

If you moved during the year, or worked out of state, there's a chance that's going to show up in your taxes. We'll help you figure out how to manage that, but below are some basic things to keep in mind.

How will getting married change my taxes?

In short: Marriage affects your filing status, and possibly your tax bracket, as well as the deductions and credits you're eligible for.

How does living or working abroad impact my taxes?

This is a huge topic! We can't get into every situation here, so below are some basic ideas and an overview of what we need from you to file your taxes if you live and/or work abroad.

What do I do about crypto and NFTs on my taxes?

The world of cryptocurrency is evolving fast, and there's not a lot of clear guidance out there. We'll help you sort it out.

What's the deal with crowdfunding?

Figuring out the tax implications of raising money through crowdfunding is not straightforward. We'll help you navigate the issues.

How do I file taxes for a deceased person?

There are a lot of challenges in the time after someone dies, and taxes are not something many people expect or want to deal with. We are here to help you navigate this process.

Documents for Children and Other Credits

Why are we asking for non tax related documents? For example, birth certificates, letters with the child listed and home address etc.

Do you have any foreign accounts? Here's what we'll need.

If you have non-US bank accounts, retirement accounts, or investment accounts whose total combined value is at least $10,000, there are reporting requirements that mean we'll need some other information to complete your return.