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Taxes

A look at tax day

You remembered to pay your taxes, right? Take a few moments to listen, and enjoy Dave's Tax Day 2018 review from earlier this week.

Access to my checking account?

Ashley wants to know if paying her taxes online will give the government electronic access to her checking account. Dave explains that it will for that transaction, and he details his stance on this sort of thing.

Debt Forgiveness: It's Taxable Income

Chris asks when you get issued a 1099-C for cancelled debt, do you still owe the debt?

How Much Should I Withhold for Taxes?

Brandon wants to know if it's better to withhold the maximum from his paycheck and get a big refund or withhold less.

How Does Debt Owed to the IRS Fit into the Debt Snowball?

Jared owes the IRS $6,000 and is paying them monthly. Should he add a personal loan to this debt or continue the debt snowball until the IRS debt makes it to the top of the list?

How Long Do I Need to Keep Tax Documents?

Robert asks how long to keep tax documents.

Taking the Tax Hit

Allison says her husband is receiving a $60,000 lump sum as his commission. They aren't sure how to minimize their tax implications. They have no debt other than their mortgage.

Is It Worth a Lawyer?

Shane wonders if it's worth it to pay a lawyer to settle IRS debt. Dave doubts it would be.

Relocation Packages and Taxes

Lucas got promoted with his company, and he had to relocate. His company agreed to buy his previous home. Is there any advantage for him to wait until January for this transaction to take place?

Pay the IRS First

Olivia's husband installs windows and basically owns his job. They now have IRS and state tax debt as a result. Where do these tax debts need to be placed in the debt snowball?

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