“How to Pay Less Taxes”

981 Search Results

981 Search Results

Do You Have to Pay Taxes on Forgiven Student Loans?

Do You Have to Pay Taxes on Forgiven Student Loans?

https://www.sofi.com/learn/content/are-forgiven-student-loans-taxed/

The Internal Revenue Service (IRS) generally requires that you report a forgiven or canceled debt as income for tax purposes. But tax on student loan forgiveness is a different matter. The American Rescue Plan (ARP) Act specifies that student loan debt forgiven between 2021 and 2025, and incurred for postsecondary education expenses, will not be […]


Income-Contingent Repayment Plan, Explained

Income-Contingent Repayment Plan, Explained

https://www.sofi.com/learn/content/income-contingent-repayment-plan/

Income-contingent payment (ICR) plans are one kind of Income-driven repayment plan, which can help make federal student loan payments more affordable. The income-contingent repayment plan allows you to extend your loan repayment period while reducing monthly payments to help them better align with your income. Any remaining loan amounts due at the end of your […]


Can You Use Your 529 to Pay Off College Loan Debt?

Can You Use Your 529 to Pay Off College Loan Debt?

https://www.sofi.com/learn/content/529-and-student-loans/

A 529 plan is a type of savings account that can help pay for college and other education expenses. If you’re among the more than 43 million Americans who have student loan debt, you might be wondering, can I use a 529 to pay student loans? While money from a 529 plan can be put […]


What Is OASDI Tax on a Paycheck? OASDI Tax Limits Explained

What Is OASDI Tax on a Paycheck? OASDI Tax Limits Explained

https://www.sofi.com/learn/content/oasdi-tax/

OASDI tax on a paycheck is one of two taxes the IRS collects under the Federal Insurance Contributions Act (FICA). It stands for old-age, survivors, and disability insurance, and it’s designed to replace income lost due to retirement, disability, or death. Some people refer to it as Social Security tax. The other tax provides for […]


Pros and Cons of Biweekly Mortgage Payments

Pros and Cons of Biweekly Mortgage Payments

https://www.sofi.com/learn/content/biweekly-mortgage-payments/

Homeowners with a mortgage typically make monthly payments toward the loan principal and interest. But borrowers can choose to make biweekly mortgage payments instead, resulting in 13 full payments over a one-year period. Opting for this mortgage payment strategy may come with advantages and drawbacks, including impacts on your savings and reducing the interest you […]


1 2 3 4 5 197
TLS 1.2 Encrypted
Equal Housing Lender