Hobbies and businesses are treated differently when it comes to filing taxes. The biggest difference between the two is that businesses operate to make a profit while hobbies are for pleasure or recreation. Whether someone is having fun with a hobby or running a...
While summer is a time for fun, it’s never the wrong time to thinking about taxes – and some of those summer activities could have an impact. Here are a few summertime activities and tips on how Massachusetts taxpayers should consider them for filing season. Marriage...
Let’s go in descending order for how long you should keep your Federal and Massachusetts Tax Records: Forever : If you never filed a return, or if you filed a fraudulent return (neither of which is recommended) 7 years : If you file a claim for a loss from worthless...
Summer wedding season has arrived, and newlyweds can make their tax filing easier by doing a few things now. A taxpayer's marital status as of December 31 determines their tax filing options for the entire year, but that's not all newlyweds need to know. Report a name...
Discover the truth about retirement savings at every age. Are you ahead or lagging behind? How do your retirement savings compare to those of your peers? Thanks to the Federal Reserve, you can now find out. The Federal Reserve has records dating back to the late 1980s...
New Mexico is the most dangerous state to raise a family, data shows. Findings based on FBI crime data shows New Mexico has the highest violent crime rate in the US. It also has the second-highest homicide rate of 12 per 100,000 people and is the third worst state for...
Forget nap time; playtime is what’s stressing Massachusetts parents out! A new survey shows that nearly six in 10 parents of preschoolers worry about their child’s development and whether they’re ready for kindergarten. The top concerns? Making friends and sharing...
According to the Center for Disease Control, During 2020–2022, 3.4% of children and adolescents aged 3–17 years had received a diagnosis of autism spectrum disorder. The prevalence of autism spectrum disorder among children and adolescents decreased as family income...
Would you associate certain character traits to being typical of an only child ? How about for the eldest or youngest? April 10 is National Siblings Day and to mark it, we’re looking at the question posed in a YouGov survey in the United States in October 2023: How...
Summer job season is approaching, the Massachusetts Attorney General’s Office has a message with the laws around teen workers. Message from Attorney General Andrea Joy Campbell: As the summer jobs season approaches, we at the Attorney General’s Office and your...