Archive for April 16th, 2018

HELP! I GOT AN EXTRA TAX REFUND!

So you haven’t even filed your taxes yet and you got a refund from the IRS. Free money, right? Not to mention the time you just saved gathering all the paperwork, going to your financial advisor or accountant, and filing your 1040.

Unfortunately, nothing with the IRS is ever that easy. It may be an actual government error (in which case you are liable for the money if and when the correction shows up), or you may have just become an unwitting participant in the latest tax scam. Read more…

What Was The Personal Exemption Anyway?

One of the biggest changes in the 2017 tax bill is eliminating the personal exemption. But what exactly was it? And how might this affect you as you file your taxes this year?

The personal exemption originated, along with the modern income tax itself, in the 16th amendment to the US Constitution. It originally exempted the first $3000 of each earner’s income, somewhat above the average income at the time (and equivalent to about $65000 modern dollars). This was in keeping with the intent of the tax: to be a progressive tax, on the “excess” income of high earners. Read more

Virginia Beach

Welcome to our web site where we bring you news, financial info and weather updates for Virginia Beach. Along the way we will give you some interesting reads on other topics as well.

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Virginia Beach News

Hampton University partners with Sentara to provide free vaccines to some peninsula seniors

HAMPTON, Va. (WAVY) -- Hampton University leaders with the School of Nursing partnered with Sentara […]

Newport News Shipbuilding awarded $2.2B contract to help build first Columbia-class ballistic missile submarines

NEWPORT NEWS, Va. (WAVY) -- Newport News Shipbuilding has been granted a $2.2-billion contract modif […]

MacArthur Memorial hosts virtual event for New York Times bestselling author

NORFOLK, Va. (WAVY) -- Leaders with MacArthur Memorial announced their plans to virtually host a New […]

Police looking for two suspects possibly related to Speedway armed robbery

PORTSMOUTH, Va. (WAVY) -- Detectives in Portsmouth are looking for two men they say threatened clerk […]

2 students test positive for COVID-19 during VCU exit testing for Thanksgiving break

During exit testing at Virginia Commonwealth University, two students tested positive for coronaviru […]

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