Janet Berry-Johnson
Investopedia
Omaha, NE, United States
Contact Janet
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Past articles by Janet:
Local Tax: What It Is and Types Communities Levy
In addition to federal income tax, most Americans pay various local taxes assessed by a state, county, or town to fund public services. → Read More
Yes, Student Loans Can Impact Your Taxes. Here’s How
Paying or defaulting on student loans and having student loan debt forgiven can have an impact on your tax return. Check out these tips before you file. → Read More
How To Handle Taxes If You Received Unemployment Benefits In 2021
Unemployment benefits can be a financial lifeline when you lose a job, but you should know that the IRS considers them taxable income. As such, you may need to have income taxes withheld from your benefits, make estimated payments, or create a plan for paying the amount you’ll owe when you file y → Read More
You Can Keep Filing Taxes Through Credit Karma—But It’s No Longer Completely Free
Credit Karma Tax is now Cash App Taxes, but Credit Karma isn’t out of the tax game just yet. The company recently announced it will still offer tax filing through TurboTax—another product provided by Credit Karma’s new parent company, Intuit. TurboTax is one of the easiest to use tax software → Read More
What Is My Filing Status?
When you file your federal income tax return, one of the first decisions you need to make is selecting your filing status. Choosing the right one is crucial because it affects your standard deduction (assuming you don’t itemize), your tax bracket, and the types and amounts of other tax credits and d → Read More
How Much Is The Standard Deduction For 2021 And 2022
The IRS released the new standard deductions for 2022, which have increased from the amounts available on 2021 tax returns. → Read More
What Is Taxable Income And How Does It Work?
Most people get money from various sources: wages from a job, investment returns, income from a business, Social Security benefits, and more. Some of that income is taxable, and some isn’t, which makes calculating your taxable income—and estimating how much tax you’ll owe—challenging. However, es → Read More
Here’s How To Fill Out IRS Form 1040
Follow these 5 steps to fill out IRS Form 1040 for the 2021 tax year. → Read More
Standard Deduction vs. Itemized Deductions: Which Is Better?
The choice between standard deduction vs. itemized deductions comes down to claiming a flat dollar amount determined by the IRS or what you actually spent. → Read More
How to Avoid Tax Filing Mistakes in 2020
Compared with the hubbub of 2019’s tax law changes, things should be smoother when you file your taxes this year. But as always, file as early as you can. → Read More
5 Things To Do On Personal Inventory Days
Having trouble staying on top of your personal finances? Try scheduling a monthly personal inventory day. You'll stop feeling guilty about what you should be doing and start celebrating your success. → Read More
How Do CPAs Spend Their Tax Refunds?
Wondering what to do with your tax refund this year? Who better to ask for advice than a CPA? Check out what these CPAs plan to do with their refunds from Uncle Sam this year. → Read More
3 Ways You Can Still Reduce Your 2016 Tax Bill
Are you worried about owing additional tax with your 2016 return? It's too late for many moves that would reduce your 2016 tax bill, but you may not be completely out of luck. Check out these three options for reducing your tax bill while keeping money in your own pocket. → Read More
Popular Tax Breaks Expiring At The End of 2016
Last year, the Protecting Americans from Tax Hikes (PATH) Act made permanent a number of expiring tax extenders. Although that legislation thankfully made planning for 2016 a little more certain, there are still a handful of tax provisions that are due to expire at the end of this year. PATH addressed many [...] → Read More
Saving for College: 529 Plan Or UTMA
A student talks on a mobile phone while walking past fall foliage on the Purdue Mall on the campus of Purdue University in West Lafayette, Indiana, U.S. Photographer: Daniel Acker/Bloomberg For the 2013-2014 academic year, the average annual price for undergraduate tuition, fees, room and board was $15,640 at public institutions, [...] → Read More