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Search resuls for: "Outlook Financial"


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How Long Does It Take to Get a Tax Refund?
  + stars: | 2024-01-15 | by ( E. Napoletano | ) www.wsj.com   time to read: +6 min
By E. NapoletanoOver dinner with friends, you toast to having finished this year’s tax return: Everyone’s getting a tax refund! How you file your tax return greatly impacts how quickly your refund arrives. Four ways to get your tax refund fasterThere are a few basic situations where your refund can be delayed. E-fileIf you still put a stamp on your tax return, you may want to upgrade to e-filing. How to check your refund statusNo matter how you file, you can easily check your refund status using the IRS’s Where’s My Refund?
Persons: they’ve, Uncle Sam, Rob Burnette, haven’t, you’ll, , you’re, Brian Eberle, it’s, Eberle, Organizations: Internal Revenue Service, IRS, Outlook Financial, Social Locations: Troy , Ohio, Minneapolis
Do I Get Taxed on a High-Yield Savings Account?
  + stars: | 2023-10-09 | by ( Aly J. Yale | ) www.wsj.com   time to read: +5 min
Today, you can even find some banks offering high-yield savings accounts with 5% APYs or higher, up from just 0.50% to 1% a few years ago. Has your high-yield savings account been racking up interest this year? How high-yield savings accounts are taxedThe interest you earn on a high-yield savings account—or any other savings account, money market account or certificate of deposit, for that matter—is subject to state and federal income taxes. What’s more, savings account and CD interest contrast with investment income, which is often taxed at lower rates. Some IRAs offer access to high-yield savings accounts.
Persons: Aly J, Uncle Sam, you’d, , Rob Burnette, that’s, They’re, Jan, You’ll, you’ll, Banks, you’ve, ” Burnette, you’re, Roth, won’t, Burnette, Organizations: Yale, Federal Reserve, Outlook Financial, IRS Locations: Texas, Illinois , Indiana , Michigan, Pennsylvania, Troy , Ohio
Eva-katalin | E+ | Getty ImagesIf you're one of the millions of Americans who worked remotely — fully or partially — in 2022, you may be wondering about the home office deduction on your taxes. However, many of those workers can't claim the home office deduction, said Brad Sprong, national tax leader of KPMG Private Enterprise. You won't qualify for the home office deduction with Form W-2 income. And the IRS expects it to be the principal place for your business, used regularly. Calculate the home office deductionThere are two ways to calculate the home office deduction: the "simplified option" and the "regular method," according to the IRS.
Morsa Images | Digitalvision | Getty ImagesIf you worked from home in 2022, you may be wondering if you qualify for the home office deduction, which offers a tax break for part of your home expenses. But most employees aren't eligible for the home office deduction, according to Brad Sprong, national tax leader of KPMG Private Enterprise. Your workspace must meet IRS guidelinesRob Burnette, CEO of the Outlook Financial Center, said your workspace must meet certain IRS guidelines to qualify for the deduction. And the IRS expects it to be the principal place for your business, used regularly. How to calculate the home office deductionThere are two ways to calculate the home office deduction: the "simplified option" and the "regular method," according to the IRS.
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