Deducting Health Insurance Premiums & Health Care Expenses on Your Taxes
The cost of health care has been rising faster than inflation for the past several decades, and it doesn’t show any signs of slowing...
Retirement Savings Contribution Credit – Get a Tax Credit Just for...
The U.S. Tax Code encourages certain behaviors. It does this by offering incentives in the form of tax breaks, deductions, and credits targeted at these...
List of 14 Commonly Overlooked Personal Tax Deductions & Credits for...
Tax time is stressful. It helps to be aware of possible deductions ahead of time so you can keep appropriate documentation to maximize your...
Tax Deductions for Charitable Contributions & Donations
Generally speaking, Americans are a generous lot. According to the National Philanthropic Trust, Americans gave $427.71 billion to charities in 2018. Perhaps one motivation...
How to Pay Federal Estimated Taxes Online to the IRS in...
It often seems traditional employees get the better part of the deal when it comes to paying taxes. Some money is withheld from their...
Child & Dependent Care Tax Credit – Deductions for Child Care...
If you pay for day care, you may be eligible for a tax credit to offset some of your tax bill. This credit applies...
What Is the Gift Tax – IRS Rules, Rate & Maximum...
Some people believe that when it comes to gifts, giving cash shows a lack of thoughtfulness. But as anyone who's ever received a horrible...
How Tax Reform Affects Deductions for Charitable Giving This Year
It may be better to give than to receive, but for many taxpayers, receiving a tax break for their charitable giving is a good incentive. Charitable donations stand at an all-time high, but new tax policies may be threatening people's desire to give. As with most tax deductions, there are a lot of rules and limitations you need to be aware of if you want to stay generous without overpaying Uncle Sam.
What Happens If You Miss the Tax Deadline? – Penalties for...
If you missed the tax deadline, you're likely very concerned about fees, penalties, and how to file your taxes late. The good news is that it can happen to anyone, for a variety of reasons, and you can still get back on track. Here is some advice for doing just that, whether you’re owed a refund or you owe tax to the IRS.
Taxes on Retirement Accounts – IRA & 401(k) Distributions & Withdrawals
When your retirement accounts are growing, it's great to see the numbers climb. But when you retire and start withdrawing money from your IRA and...
Claiming the Child Tax Credit – Everything You Need to Know...
Raising a child isn't cheap. According to the United States Department of Agriculture, the price tag for a child born in 2015 is about...
Estate & Inheritance Tax – Threshold, Rates & Calculating How Much...
As the old saying goes, nothing is certain except death and taxes. Nobody loves either one of these things – and when you put...
