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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…
Generally, yes, you will pay federal taxes on any unemployment you receive, and depending on where you live, you may owe state taxes as well.
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.
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.
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.
In short: Marriage affects your filing status, and possibly your tax bracket, as well as the deductions and credits you're eligible for.
This is a huge topic with a ton of nuance and specifics to consider. We can't get into every situation here, so below are some basic ideas, as well as info on what we need from you to file your taxes if you live and/or work abroad.
Follow this handy guide for taking care of the common issues that crop up when filing prior year taxes.
The world of cryptocurrency, along with things like NFTs, is evolving fast and there's not a lot of clear guidance out there. We'll help you sort it out, we speak crypto.
Figuring out the tax implications of raising money through crowdfunding is not straightforward. We'll help you navigate the issues.
The short answer is, sometimes. It's only be relevant if the total amount that exceeds 7.5% of your income, and you have itemize (meaning you have a lot of "personal" expenses like real estate taxes, charitable contributions, mortgage interest, along with medical expenses).