A man holding a shield protecting money from arrows.

Unemployment Overpayment Wage Garnishment: All Your Questions Answered

Facing unemployment overpayment and potential wage garnishment can be daunting. This comprehensive guide provides clear answers to your most pressing questions, helping you navigate the complexities of wage garnishment related to unemployment benefits. Key Takeaways Unemployment benefits are generally protected from wage garnishment, with specific exceptions. Wage garnishment can occur for debts like child support,…

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A block illustration of a hand donating a coin to a charity box with a heart symbol, representing charitable giving.

Giving Back and Getting Back: A Guide to Charitable Donations and Your Taxes 2024-2025

Learn how to maximize your charitable giving while minimizing your tax burden with this comprehensive guide to tax-deductible donations, including tips on record-keeping, different donation methods, and the benefits of Qualified Charitable Distributions (QCDs).

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form 1040 schedules

Comprehensive Guide to IRS Form 1040 Schedules for Tax Year 2024

Filing your income tax return can be complex, especially when considering the various schedules that may apply to your financial situation. To help you navigate through the process with confidence, let's explore all the schedules you need to know when filling out IRS Form 1040 for the tax year 2024. Understanding Tax Schedules: What They…

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irs form 1040

Form 1040: A Step-By-Step Guide To Gain Income Tax Return

Filing your income tax return can seem daunting, but with the right guidance, you can navigate the process smoothly. This comprehensive guide will walk you through the steps of filling out IRS Form 1040, ensuring you meet your tax obligations accurately and efficiently. Let’s get started! Key Takeaways Form 1040 is the primary form used…

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A golden egg cracking open to reveal cash, with "20%" etched on the shell.

Navigating Your Lump Sum Pension Payout: A Tax-Wise Guide

Retirement is a time to enjoy the fruits of your labor, not worry about Uncle Sam taking a big bite out of your pension. If you're thinking about taking a lump sum payout from your pension plan, it's important to understand the tax implications and how to keep more of your hard-earned money. Let's break…

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A comprehensive guide: 401k to ira rollover

401k To IRA Rollover: A Comprehensive Guide

At XOA TAX, we understand that managing your retirement savings can be complex, especially when transitioning between jobs or entering retirement. One common question we encounter is whether to roll over a 401(k) to an Individual Retirement Account (IRA). This guide provides a step-by-step overview of the process, key considerations, and answers to frequently asked…

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A stylized calendar with "April 15, 2025" and "October 15, 2025" highlighted.

Tax Extension Deadline 2025: Don’t Miss the Date!

Tax season is here, and we know it can be a busy time. Between gathering all your documents and making sure everything is accurate, it's easy to feel a bit overwhelmed. But don't worry—if you need more time to file, you're not alone! The IRS offers a tax extension that gives you until October 15,…

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1040 v form

Mailing a Check to the IRS? Don’t Forget Form 1040-V!

Learn everything you need to know about IRS Form 1040-V, including how to complete it, where to mail it, and common mistakes to avoid when paying your taxes by mail with a check or money order.

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Compare Roth IRA vs Traditional IRA

Roth IRA vs. Traditional IRA: Making the Right Choice for Your Retirement in 2024

Planning for retirement is a crucial financial goal, and choosing the right Individual Retirement Account (IRA) is a key step in that process. Two popular options are the Roth IRA and the Traditional IRA. Each has its own advantages and disadvantages, and understanding these differences is essential for making an informed decision. This post provides…

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A person holding an approved Form W-7 with symbols of financial success.

The Ultimate Guide to IRS Form W-7 ITIN

Hello from XOA TAX! We often get questions about Individual Taxpayer Identification Numbers (ITINs) and how to apply for them. This comprehensive guide to IRS Form W-7 will walk you through the process, so you can file accurately and with confidence. Key Takeaways An ITIN is a tax processing number issued by the IRS to…

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